GREEN BAY, Wis. -- Aaron Jones' run with the Packers will continue after the running back reached an agreement Friday on a reduced salary for the 2023 season, his agents, Drew Rosenhaus and Ryan Matha, told ESPN's Adam Schefter.

Jones, who was scheduled to make $16 million, agreed to cut that by $5 million in exchange for a signing bonus of $8.52 million as part of his total pay of $11 million for the 2023 season.

He had been under contract for $20.013 million, which had included a $7 million roster bonus due next month and an $8.1 million base salary. By replacing the roster bonus with the signing bonus and lowering the base salary, the Packers will significantly reduce Jones' salary-cap figure.

Including the upcoming season, Jones will have made $31 million since 2021, second most among running backs behind only Christian McCaffrey.

Jones, 28, will still have two years remaining on his contract under the new agreement. He signed a four-year, $48 million contract in 2021, but it was always viewed as a deal that would have to be restructured after two years if the Packers did not release him.

Packers general manager Brian Gutekunst said last month that he expected to have Jones back next season.

"The way he leads that football team, his consistency, is amazing," Gutekunst said. "In this league, you can't have just one [running back]. Obviously, having AJ [Dillon], it's nice to have that one-two punch. Aaron, when we got first here, you're thinking, 'Hey, this probably won't last long because the way he's built and his size,' and he just keeps on defying the odds."

This isn't the only contract the Packers will try to restructure. Left tackle David Bakhtiari is owed a $9.5 million bonus if he is on the roster on the third day of the league year, which begins March 15, and could be a candidate for a restructure or a pay cut.

"With the way we're doing things lately, we'll probably restructure everybody and try to keep making some [salary-cap] room," Gutekunst said last month.

Last season, Jones posted his third 1,000-yard rushing campaign since 2019, finishing with a career-high 1,121 yards while compiling seven total touchdowns (two rushing, five receiving).