Ellerbe will average $5.2 million in 2016 and 2017 compensation after being scheduled to average $6.2 million in base salary alone in those years.
Ellerbe played just one game last season due to a hip injury.
Stills, 22, was drafted in the fifth round of the 2013 draft out of Oklahoma. He caught 63 passes for 931 yards and three touchdowns last season. He has 95 catches for 1,572 yards and eight scores in his two-year run with the Saints. He still has two years and $1.26 million left on his rookie deal.
Ellerbe agreed to restructure his contract to help New Orleans with their cap situation. He had three years and $20.95 left on his current contract before the deal. Terms of his contract restructure weren't made public.
Ellerbe, 29, played in only one game in 2014 due to a hip injury that landed him on injured reserve. He played in 15 games the year prior managing 101 total tackles and two interceptions.
The team has already released Phillip Wheeler and Ellerbe will be the latest Dolphin linebacker thrown into the free agency pool.
The Dolphins will sign
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