No word yet on what the compensation is.
Just two years ago -- in the first year of the Bill Parcells regime -- the Dolphins gave Smiley a five-year deal with a total value of $25 million and $9 million guaranteed.
The trade will be completed once Smiley passes a physical. There are rumors out there that he has a bum shoulder (which would explain why Parcells wants to trade him) so it's still possible that something disrupts the completion of this.
Smiley is 28 and spent his first four seasons in San Francisco.
Check out a reaction from Jaguars fans over at SB Nation's Big Cat Country.