Faulk, who signed a seven-year deal in July 2002, was scheduled to make about $7.5 million this year. In the new contract, the team said on its Web site the recently demoted nine-year veteran now will receive a total of $6 million over the next two years.
Coach Mike Martz has made the younger Steven Jackson the starting rusher for next season. Jackson was the Rams' first-round draft pick in 2004. Last season, he ran for 673 yards and four touchdowns while averaging five yards per carry.
Faulk, one of the league's most versatile backs, still led the Rams in rushing with 774 yards, averaging four yards per carry. He was the team's third-leading receiver with 50 receptions.