Peyton Manning passes physical, cleared to play in 2014

Denver Broncos quarterback Peyton Manning on Monday passed his annual physical exam regarding his surgically repaired neck, a team source told FOX Sports 1's Mike Garafolo.

Manning's contract has a stipulation that requires the veteran quarterback to undergo an annual exam in order for him to play the following season. Manning, who is cleared to play in the 2014 season, is guaranteed his $20 million salary after receiving the doctor's approval.

If doctors would have discovered deterioration or new damage to Manning's neck, the Broncos could have voided his contract.

Manning is coming off a career season in which he threw for 55 touchdowns and 5,477 yards leading the Broncos to Super Bowl XLVIII.