The reworked Kaepernick contract gives him the option to void the deal after the 2016 season. The restructured pact eliminates roughly $14.5 million in injury guarantees for 2017 and dissolves the final three years of a six-year deal that previously kept him under contract through 2020, Rapoport adds. Kaepernick's contract is now essentially a two-year deal.
A former 46-man roster bonus has been converted to part of his base salary and a bonus will be triggered if Kaepernick plays half of the team's snaps this season.
The new deal will eliminate the risk of the 49ers having to pay out guarantees to Kaepernick if the quarterback is injured this season and would allow the signal-caller a chance to test the free-agent market in March.