Perhaps a buy out of the last two years and free agency?
A year is a long time to miss for a 38 year old. Although look what Manning has done.
As a rule, major league (NFL, NHL, NBA) suspensions are without pay, but otherwise the contract remains in force, in other words, he is not a free agent, cannot play in Japan or whatever, during that period.
Usually many if not most athletes can take it many more years from their late 30s. But what happens after 10 to 15 years of play is they lose their fire in their bellies and the game is not as fun to them so they move on. They still have the skills for a decade or more, but lose the drive.
Manning is still very hungry.