The deal is worth $894,340, The Baltimore Sun has learned.
Cundiff received an $825,000 base salary, a $65,000 signing bonus and a $4,340 workout bonus.
Under the minimum salary benefit, Cundiff carries a salary-cap figure of $609,340 with his $825,000 salary only counting for $540,000 against the cap.
Cundiff made 3 of 4 field goals in his Redskins debut Wednesday night, hitting all three extra points for 12 points during a 30-3 win over the Tampa Bay Buccaneers. He connected on kicks from 39, 27 and 22 yards, missing from 46 yards wide right in the second quarter.
The Ravens terminated Cundiff's five-year, $14.7 million contract on Sunday.
It was a contract that he signed after his 2010 Pro Bowl season. That deal included a $3 million signing bonus and a $2.2 million base salary for 2012.
The Ravens saved approximately $1.81 million against this year's salary cap by parting ways with Cundiff and going with rookie kicker Justin Tucker.
Tucker is signed to a three-year contract that includes a rookie minimum base salary of $390,000. The deal didn't include a signing bonus.
Now, the Ravens are $4.933 million under the NFL salary cap limit.
That's enough space to do a contract extension for quarterback Joe Flacco and have enough left over for an emergency fund should more injuries happen.
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