With only three months left on that deal, the Red Sox reached a contract termination settlement with the 31-year-old pitcher on Tuesday, placing Jenks on unconditional release waivers.
Former Red Sox general manager Theo Epstein signed Jenks to a contract in December 2010 with the hope that the former White Sox closer could be a vital part of Boston's bullpen.
But Jenks struggled when he pitched last season, making just 19 appearances and posting a 6.32 ERA. Thanks mainly to back problems, he spent three separate stints on the disabled list.
It got worse for Jenks when last season ended, as he underwent back surgery, only to develop an infection in his spine and had to have another surgery 18 days later.
When Jenks arrived at Spring Training, he already knew he was going to start the season on the 60-day disabled list.
Things got worse yet again on March 23, when Jenks hit a couple of cars in the parking lot of a gentleman's night club in Fort Myers, Fla., and allegedly fled the scene. He was charged with DUI, property damage and hit-and-run.
Jenks passed a breathalyzer test, but admitted he was "messed up" from muscle relaxers during the accident.
It was a steep fall for Jenks, who recorded the last out for the Chicago White Sox in the 2005 World Series.
In his career, Jenks is 16-20 with a 3.53 ERA and has 173 saves.