Peyton Manning and the Denver Broncos are finalizing a reduction of his pay from $19 million to $15 million.

Manning's production dipped during the second half of 2014.

The contract is not final until Manning passes his physical exam.

Manning informed Broncos general manager John Elway on Feb. 12 that he was physically and mentally prepared to play in the upcoming season after undergoing a comprehensive workout regimen and evaluation with noted performance trainer Mackie Shilstone.

Manning gets an extra $2 million back for winning the AFC Championship Game and another $2 million for winning the Super bowl.