As the Ravens make their bid today to try to hammer out a contract with starting inside linebacker Dannell Ellerbe, they've already accomplished another piece of business.

Wide receiver David Reed has agreed to a two-year contract that carries a maximum value of nearly $2.5 million and includes a $500,000 signing bonus, according to league sources with knowledge of the situation.

Reed was a restricted free agent who didn't receive a tender from the Ravens.

Reed returned last season after spending the first 11 games of the season on the physically unable to perform list with a torn anterior cruciate ligament suffered the previous year. He caught five passes for 66 yards and recorded four special-teams tackles in five games.

A 2010 fifth-round draft pick from Utah, Reed led the NFL with a 29.3 kickoff return average as a rookie and returned a kickoff 103 yards for a touchdown against the Houston Texans.