Bell's one-year deal has a base salary of $1 million, which will be prorated for the five games he wasn't on the team, meaning he will make around $690,000, a source told ESPN's Jeremy Fowler.
The pact reportedly also includes up to $1 million in playing time and playoff incentives.
The three-time Pro Bowler agreed to a deal with the reigning Super Bowl champions on Thursday, two days after surprisingly being released by the New York Jets.
The Jets previously gave Bell one of football's biggest contracts for a running back with a four-year, $52.5-million deal signed prior to the 2019 season. New York still has to pay Bell $6 million in 2020, but that value will be defrayed by his annual salary with the Chiefs.
Bell's pending guaranteed money from the Jets this year allowed teams to offer him a minimum deal, which increased the options for the star back.
The Jets effectively paid $27 million in guarantees for Bell's 17-game stint with the team, according to Over The Cap.