Smith is on target to return from a Lisfranc foot sprain that required surgery.
The Ravens also restructured cornerback Lardarius Webb's contract. He now has a $9.25 milllion salary-cap figure, down from $12 million for this year. He's due $18 million over the next three years with $5.25 million guaranteed.
The Ravens didn't draft a cornerback until the fourth round. The Ravens had heavy interest in cornerbacks Kevin Johnson and Marcus Peters, but both were gone by the 26th overall pick when they selected Central Florida wide receiver Breshad Perriman.
"I don't think we needed to draft a cornerback because of me and Jimmy," said Webb, who held his annual charity softball game Friday night at M&T Bank Stadium. "I think we needed to draft a corner because of what we went through last year and kind of add some depth. They know what they're doing.
"We do have some good guys. I think they didn't choose to get many corners because we have some young guys who are very talented and the upside is so much."
Smith is under contract through the 2019 season, and Webb is under contract through the 2017 season. Before Smith got injured, he was arguably playing at a Pro Bowl level.
"Jimmy deserves every penny he got," Webb said. "He could have got more, but we understand we want to be Ravens for life and what we want to do as a duo."
Rookie class shaping up
The Ravens signed fourth-round outside linebacker Za'Darius Smith to a four-year, $2.763 million contract that includes a $483,124 signing bonus.
Including second-round tight end Maxx Williams' $4.052 million deal that includes a $1.826 million guaranteed with a $1.207 million signing bonus, seven of the Ravens' nine draft picks have signed their contracts.
The lone remaining unsigned draft picks are first-round wide receiver Breshad Perriman and third-round defensive tackle Carl Davis.
Steve Smith advises rookies
Five-time Pro Bowl wide receiver Steve Smith huddled with the rookies at the end of their first NFL practice Friday, advising them to treat the next several months like an extended job interview.
"Pretty much, 'Audition, you're an intern, come in, do what you have to do and when the summer is over, they're going to pick the guys they want," said rookie running back Buck Allen, relating Smith's talk. "Getting drafted doesn't mean you make the 53-man roster. He knows what he's talking about."
The Ravens signed 15 undrafted free agents: Alabama safety Nick Perry, Alabama linebacker Trey DePriest, Michigan defensive end-outside linebacker Brennen Beyer, Sacramento State wide receiver DeAndre Carter, LSU running back Terrence Magee, Colorado State-Pueblo outside linebacker-defensive end Darius Allen, Oklahoma cornerback Julian Wilson, East Carolina wide receiver Cam Worthy, Iowa State outside linebacker-defensive end Cory Morrisey, Ohio State offensive tackle Darryl Baldwin, Harvard offensive lineman Nick Easton, Louisiana-Monroe punter-kicker Justin Manton, Rutgers offensive lineman Kaleb Johnson, BYU offensive lineman De'Ondre Wesley and Mississippi State offensive tackle Blaine Clausell. The following players had previously agreed to terms, but weren't signed due to failed physicals or other complications: Troy offensive lineman Terrence Jones, San Jose State offensive lineman David Peterson and Northern Colorado defensive tackle Lexington Smith. … The Ravens invited Maryland defensive end Andre Monroe, Purdue cornerback Antoine Lewis, Wyoming defensive tackle Patrick Mertens, Harvard defensive back Norman Hayes, James Madison wide receiver Daniel Brown, Thomas More running back Dominique Hayden, USC safety Gerald Bowman and Delaware wide receiver Andrew Opoku to their rookie minicamp on a tryout basis, according to sources.