a 2nd round tender and hope a team signs him.
Sign Bowen to a contract similar to Ratt's, and move him to the starting spot . Sign Hatcher to a contract making roughly 1.5 - 2 millions for 4 years as a back up. Draft somebody in the 3rd or 4th round, bring in somebody from the free agent market ( players that are going to be cut ), and have both compete with Marcus Dixon for the other back up DE spot.
Hopefully Spears will be gone, bringing in a much needed extra 2nd round pick ( although to be honest, I don't see ANY team in the NFL who'd be willing to sign Spears to a long term contract even if he was an unrestricted FA, much less willing to give up a 2nd round pick too ), and with the money they'd save signing him, rework Ratt's contract to bring him up to the level he deserves.