Wake's original contract had one year left with $550,000 left on it. He skipped the team's voluntary workouts this past month as he wanted a new contract with the team.
Wake is one of the best pass-rushers in the league, making the Pro Bowl in 2010 after having 14 sacks. He had 8.5 last year.
Wake originally played in the Canadian Football League, but was signed by the Dolphins in 2009 to a four-year, $4.9 million deal with $1 million guaranteed. He started out in Penn State, but went undrafted and failed in his stint with the Giants.
He later took his talents to the CFL, winning two Defensive Player of the Year awards.
The 30-year-old has done his work now and the money is earned finally.
Wake so far has 28 sacks for his three-year career.
Josh Dhani is the founder of FootBasket. He also contributes at Hoops Authority and Eight Points Nine Seconds. You can read more about him at his website. Follow him on Twitter @joshdhani.
