All those contractual safeguards must take longer to decipher than the Broncos and Javon Walker expected.

Having agreed in principle last week on a six-year contract worth around $43 million, the Broncos and the receiver did not finalize the deal as expected Monday as the two continued to pore over contract language that has become especially crucial considering Walker's recovery from major knee surgery.

Once the deal is done, the Broncos could have a win-win situation.

Should Walker, 27, regain his 2004 Pro Bowl form, the Broncos would make him the third-highest paid receiver in the game. But if Walker struggles to overcome the knee injury that forced him to miss all but 2 1/2 quarters of the 2005 season, the Broncos would have a chance to minimize their financial investment.

According to a league source, Walker, acquired April 29 for a second-round draft pick, will get the $1.15 million base salary he had remaining from the contract he originally signed with the Green Bay Packers, then a five-year, $42 million extension from the Broncos. Included in the extension is a $1 million roster bonus the Broncos inherited from the Packers.

The key to the deal is the bonus payout, which according to the source is between $15 million and $16 million. Multiple websites have reported Monday the bonuses would be paid out as club options - most in 2007, the rest in 2008.

Option bonuses are usually not guaranteed, although they can trigger salary promises.

Know this: The Broncos didn't give up a second-round pick with the idea of keeping Walker for a year.

If all goes well for both sides, Walker would be paid more than any receiver except Indianapolis'