New York Giants wide receiver Steve Smith caught 65 passes for 637 yards and one touchdown in his first two seasons in the National Football League. After leading the NFC with 107 receptions--a Giants single-season record--and earning a trip to the Pro Bowl in 2009, Smith is looking for a new contract.

"I deserve to at least be getting what these other players in the NFL are getting, like a Greg Jennings, at least," Smith told the New York Post.

Jennings, a 2006 second-round pick of the Green Bay Packers, was headed into the final year of his rookie contract before he signed a three-year contact extension last summer. Jennings' contract included $26.35 million dollars in "new money", including a $11.25 million dollar signing bonus, along with a $5 million dollar fully guaranteed base salary in 2009.

Smith is slated to earn $550,000 in 2010, the final year of his four-year, $3.275 million dollar contract he signed after being chosen with the 51st overall pick of the 2007 NFL Draft out of USC.

"I understand it's making it tough on both sides," Smith said.. "It's bad timing for me to be doing well in the National Football League."

The 30% rule governing contract extensions in the uncapped year limits the amount in which base salaries can increase in a contract extension. For Smith, who made $460,000 in 2009, his threshold would be $138,000 annually. (New York Jets offensive tackle D'Brickashaw Ferguson's was $1.8M) The rest of a multi-year, multi-million dollar contract extension would need to be come in the form signing and roster bonuses, which considering the league's current labor situation, may not be something the Giants want to rush into.