Devin Hester came to Atlanta surrounded by rumors that he wanted $4 million per season. A closer look at the parameters of his contract reveal that he's not going to get that, and thanks to some smart cap structuring, he probably never will.
Here's the numbers, per Over the Cap:
2014: $1,833,333 cap hit, $3.5 million in dead money
2015: $3,333,333 cap hit, $1,668,667 in dead money, $1,666,666 saved if cut
2015: $3,833,334 cap hit, $833,334 in dead money, $3 million saved if cut
As you can see, this is essentially a two-year deal with an option for a third season. The cap hit for cutting ties with Hester in 2015 isn't unreasonable, either, so the Falcons could just choose to keep him around for a year if things really go awry. That $3 million cap savings makes it likely Hester will be out of Atlanta in 2016, all things equal, but the Falcons are going to lean on him heavily in the return game in 2014, at minimum.
If Hester continues to be an asset in the return game and maybe pitches in on offense, the Falcons can manage those cap hits easily with the boatloads of cap space they'll have in 2015 and 2016. It's a flexible, relatively team-friendly deal that still stands to pay Hester well for his services. Assuming he doesn't drop off the face of the earth, the contract should go down as a deal for both teams.