-- It includes an NFL-record $61 million in "guarantees," but only $13.073 million (his signing bonus, 2014 base salary and workout bonus) is fully guaranteed at signing. He will count $3.76 million against the 2014 salary cap.

-- His base salaries from 2015-17 - and a portion of his 2018 base salary - are guaranteed for injury only. That is, Kaepernick can't be released if he is hurt, but the 49ers can part ways for any other reason without paying him his base salary for that season. His base salaries become fully guaranteed on April 1 of each year. His $39.8 million in base salary from 2019-20 is nonguaranteed.

-- Starting in 2015, it includes $2 million annual de-escalators that could lower the value of his deal by $12 million if he doesn't have a season in which he plays 80 percent of the offensive snaps while also starting the Super Bowl or being named a first- or second-team All-Pro. Kaepernick can eliminate the de-escalators as soon as 2014 by having such a season.

-- From 2015-20, Kaepernick has $12 million tied up in per-game roster bonuses. That is, he will lose $125,000 for each regular-season game in which he is inactive.

-- Kaepernick was required to purchase a disability policy that pays the 49ers $20 million if he suffers a career-ending injury.

"I think the deal is more favorable for the 49ers than to Kaepernick," said (Joel) Corry, who now covers NFL contract and salary-cap issues for CBS. "But you don't know what the objective was for Kaepernick. I've seen some rumblings that he wanted to have a deal that made it possible for them to retain other talent on the team. And if you're the agent, you're supposed to achieve your client's objectives. You work for the client, not the other way around."