No word yet on compensation, but here's a free form look at what I consider an acceptable price for Seneca Wallace:
Shaun Rogers: Malcontent.
Any draft pick: Draft picks do not sack themselves.
Brady Quinn: Myoplex party over here.
Brian Robiskie: Safe.
Pat Murray: Homecoming.
Almost anything else.
It was fun Seneca, but your chances of developing have ended and Seattle needs a starter capable quarterback and as many roster spots as possible to add that.