Former Giants safety Kenny Phillips didn't just settle for a short-term deal with the Eagles. He did it without pocketing any guaranteed money.

Details of Phillips' deal show the oft-injured safety signed a one-year, $2 million contract with the NFC East rival, according to multiple reports. Phillips could earn another $1 million in incentives if he meets a variety of performance bonuses, including making his first career Pro Bowl.

But the deal does not contain a traditional signing bonus, meaning the Eagles can cut Phillips before the season begins without any substantial financial penalty. Phillips was limited last season with recurring knee injuries. He's still currently rehabbing.

If Phillips does remain on the Eagles' roster for the entire season, the 2008 first-round pick will collect an $850,000 base salary, $1 million roster bonus (to be paid out over 17 weeks) and a $150,000 workout bonus.

Phillips, 26, has struggled with knee injuries the past few seasons. Clearly that affected the market for his services.

The Giants recently offered him a deal, but Phillips jumped within the division anyway. The 26-year-old said he wanted a "new start." He gets that with the Eagles, but he'll have to prove himself once again if he wants a long-term deal next offseason.