Take it for what it's worth -- Mac's Football Blog is reporting that Jason Smith is restructuring his contract significantly.
If the report bears truth, the restructure hinges on two major factors. Obviously the first is Smith's 2012 salary, chopped from $10m to $4m, with a $500,000 roster bonus coming his way. That's a decent chunk. Perhaps more important in the long run though is that it shaves a year off the contract.
Initially, Smith was under the deal through 2013 with 2014 being a voidable year. That's been moved up, so his contract would be voidable after this season. In fact that 2013 season now carries just a $750,000 salary with a $11.25m bonus...hello, pressure.
The Rams got the right numbers in place to reflect the reality of the situation -- this is Jason Smith's last shot with the Rams. If he can't get it together this year and show he's capable of playing up to starting caliber (to say nothing of his draft position), the Rams are in a much better position to cut ties and move on.