More like half, but I get your point.
It could be viewed as a 'win-win' for both sides. Give him more now, and have him sign for a reasonable amt for the next few yrs.
He may not be selling himself short if he gets a pay raise from the approx.500k that he was supposed to earn each yr x the next 2 yrs. On top of that, he may have just signed for a nice signing bonus and the security that many players want. He could/should be set for the rest of his life, barring any majorly stupid spending sprees.
Especially those who only have 2 yrs in the league and are barely in their early 20's.