Woodhead earned a signing bonus of $425,000 to go along with the $395,000 base pay he's earning in 2010. He's expected to make about $550,000 in 2011 and up to $700,000 in 2012.
Woodhead was waived by the Jets earlier this season during final roster cuts. While with New York, Woodhead served as a receiver with the team low on receivers while Santonio Holmes was suspended for four games. The Patriots decided to take a chance on the 5' 8 26-year old after the team lost the versatile Kevin Faulk for the season.
Since signing with the Patriots, Woodhead has carried the ball 64 times with over 300 yards rushing and three touchdowns, which is good for second on the team. Woodhead averages about 5.4 yards per carry, a team high. He has also been a reliable receiver as he has caught 24 balls for 230 receiving yards and a touchdown.
With Fred Taylor losing significant time due to injury, Woodhead and BenJarvus Green-Ellis have received the bulk of the work in the Patriots backfield, which ranks 16th in the NFL in rushing offense.