East Rutherford, NJ (SportsNetwork.com) - The New York Giants assigned the non-exclusive franchise tag to defensive end Jason Pierre-Paul at Monday's deadline as the team continues to attempt to work out a long-term deal with its top pass rusher.

Pierre-Paul will earn a $14.8 million salary in 2015 as a franchise player, though the Giants now have until July 15 to negotiate an extension with the 2010 first-round pick by applying the tag.

The 26-year-old is coming off a bounce-back 2014 campaign in which he recorded 12 1/2 sacks and three forced fumbles while starting all 16 games. Pierre-Paul had a career-low two sacks while being limited to 11 games by injuries the previous season.

He has amassed 42 sacks, 286 tackles, eight forced fumbles and 28 passes defensed during his five-year tenure with New York, which selected the two- time Pro Bowl honoree with the 15th overall choice of the 2010 NFL Draft. He racked up 16 1/2 sacks during the Giants' Super Bowl XLVI championship season of 2011.

The Giants made another notable move on Monday, releasing center J.D. Walton after just one season with the club.

Walton signed a two-year, $6 million contract with New York last March and started all 16 games, but was deemed expendable due to upcoming $3.625 million cap hit and 2014 second-round pick Weston Richburg ready to take over in the middle.