I'm late to the party on this one, GoGregGo covered it here yesterday. Matching the Titans' offer to backup CB/S Jarrett Bush helps by keeping an experienced player on the roster. The $1 million guaranteed contract, he'll get paid $2 million overall in 2009, doesn't hurt either because it's not a cap killing contract, it probably won't stop them from signing any other free agent their still interested in, and it probably won't take up enough cap room from stopping any future contract extensions.
I didn't think the Packers would match it because they had signed free agent FS Anthony Smith, but there is room on the roster for both players. Bush will receive more than Smith, but Bush still received a market contract. Cleveland gave S Mike Adams slightly more, about $1.7 million guaranteed, which is what it takes to sign a backup cornerback who isn't good enough to play in the nickel or start.