On July 29, 2002, Faulk signed a new seven-year, $43.95 million contract with the Rams. Faulk was about to enter the fourth year of his 1999 contract. In this new contract Faulk received a $10.7 million signing bonus. In the 2002 season the Rams struggled and finished the year at 7–9. Faulk played in 14 games and started 10 and ended with 953 yards and 80 receptions. The following season, he played in and started 11 games, finishing with 818 yards and 45 receptions as the Rams rebounded with a 12–4 record.