Falcons defensive end Brooks Reed restructured his contract, likely taking a pay cut, to stay with the team, according to NFL Media.
Reed, a salary-cap casualty candidate, was scheduled to make $4.5 million in base salary and had a salary cap number to $5.44 million.
Reed, who formerly played with the Texans, signed a five-year contract in 2015 and there are two years remaining on the deal.
The Falcons apparently rated Reeds contribution to the team higher than Derrick Shelby, who was released.
Reed played 412 defensive snaps (39.1 percent) and had four sacks and 39 tackles last season. Shelby played 397 defensive snaps (37.7 percent) and had one sack and 30 tackles.
The Falcons are trying to create as much salary cap space as possible in order to add free agents and sign quarterback Matt Ryan to a contract extension that could be worth between $180 million and $190 million.