First off, regarding Brown, according to the Plain Dealer, the cornerback was given a $5 million signing bonus. Brown's contract was not extended; it was only renegotiated. Brown should be in action when the team starts their offseason training activities (OTA's) next week.
One person (among others) who probably won't be at the voluntary OTA's though is Elam. On his website today, Elam stated that he was seeking a multi-year deal:
I was tendered at second round level by the Browns but at this point I am weighing my options in hopes of receiving a multi-year deal. I am praying everything works out for the best. As of right now my focus is on training and continuing to improve as a player.
I don't envision Elam's hopes panning out, and he didn't have enough of an impact last season to prove that he was invaluable to the team. If Elam gets a multi-year deal, it'd have to be the Browns getting the bargain, which I'm sure isn't what Elam is aiming for. I suppose he doesn't have much to worry about when it comes to his position though: he's the only starting safety returning from last year, Mangini is still in charge and he's the guy who acquired him, and there really isn't anyone on the roster who is even an option to compete for Elam's spot.