Simon, who was ranked No. 64 in NFL.com's top 101 available players, has signed a three-year, $14 million contract with the Colts that includes $6 million guaranteed, a source informed of the deal told NFL Network Insider Ian Rapoport. The deal includes incentives that pushes the potential max value of the contract to $17 million.
Simon tallied 51 tackles and 3.5 sacks for the Texans last season en route to his Indy payday.
In addition, Indy added punter Jeff Locke to replace the recently-retired Pat McAfee. Locke was the punter in Minnesota for the past four seasons.
The Colts also announced the release of cornerback Patrick Robinson on Friday. Robinson played in seven games in his lone season in Indy. The veteran cornerback will enter free agency amidst one of the deepest secondary draft classes in recent memory.
For a comprehensive recap of Thursday's transactions, check out our Day 1 free-agency roundup.
Here are the other notable agreements we're tracking on Day 2 of the 2017 NFL free-agency signing period:
1. The Panthers are reuniting with pass-rusher Julius Peppers. The team announced they are signing safety Mike Adams to a two-year deal, and also signed wide receiver Charles Johnson. Carolina continued the addition of former Vikings later Friday, agreeing to terms with defensive back Captain Munnerlyn, who was a Panther before he was a Viking. It's a four-year deal for Munnerlyn, per Rapoport, with $7 million due in the first season.
2. The Detroit Lions signed former Oakland Raiders cornerback D.J. Hayden to a one-year deal worth up to $5.25 million, Rapoport reported. Detroit also added former Buccaneers defensive tackle Akeem Spence, they announced.
3. The Rams franchise tagged Trumaine Johnson but are still in discussions with teams about potentially moving him, Rapoport reported.
4. The numbers are in on Dre Kirkpatrick's new deal with the Bengals. Rapoport reported Friday that the deal is for five years, $52.5 million with $12 million in guarantees.
6. The Cowboys re-signed wide receiver Terrance Williams to a four-year deal worth $17 million, Rapoport reported. Dallas is also signing cornerback Nolan Carroll to a three-year, $10 million deal with $4 million due in the first year, Rapoport reported, and agreed to terms with defensive tackle Stephen Paea, the team announced.
7. Former Panthers offensive tackle Mike Remmers is signing a five-year, $30 million deal with the Vikings, Rapoport reported. Minnesota also gave former Lions tackle Riley Reiff $58.75 million over five years with $26.3 million in guarantees, per Rapoport.
9. The Eagles agreed to terms with guard/center Stefen Wisniewski on a three-year deal, the team announced Friday. NFL Network's Mike Garafolo reported the deal is worth close to $9 million over three years, adding that Wisniewski could make up to $15 million if he hits his incentives, per a source.
10. Tight end Jared Cook's chances to return to Green Bay are nonexistent, Garafolo reported, and he'll visit elsewhere. Negotiations with the tight end stalled Friday, Rapoport reported, and Green Bay went in a different direction, signing Martellus Bennett to fill the void.
11. The Cardinals agreed to terms with kicker Phil Dawson on a two-year contract and linebacker Karlos Dansby on a one-year deal, the team announced. This is Dansby's third stint in Arizona -- he was made a second-round pick in 2004 by the team.
15. The Bills announced the release of safety Corey Graham. The 31-year-old played in all 16 games last year for Buffalo, totaling nine pass defenses and an interception. He's played 10 years in the league.
17. The Jets are signing tackle Kelvin Beachum. Rapoport adds the deal is for three years and is worth $24 million with $12 million in guarantees.
New York also signed kicker Chandler Catanzaro, the team announced.
19. Free agent defensive tackle Bennie Logan is visiting with the Redskins on Friday and Saturday, Rapoport reported.
21. Safety Daniel Sorensen agreed to a four-year deal with the Chiefs worth $16 million with an addition $2 million in incentives, Garafolo reported.
22. The Packers have re-signed tackle/guard Don Barclay, the team announced.