Hernandez was cut by the Patriots hours after his arrest in the Lloyd case, and coach Bill Belichick later said he was "shocked and disappointed" upon learning of the criminal investigation.
Thursday's indictment raises the possibility that Hernandez played the 2012 NFL season after killing the two men.
Six weeks after allegedly committing the murders in July 2012, Hernandez received the lucrative contract extension from the Patriots and talked about being inspired by his family to make smart decisions.
"I called [my family] and told them obviously what the contract was, and the basics about it," he said at the team's annual charity gala on Aug. 27, 2012. "They were all crying. I was crying right with them. This is probably one of the best days of my life. I'll remember this day forever. I just hope I keep going, doing the right things, making the right decisions so I can have a good life, and be there to live a good life with my family."
Upon receiving the deal, Hernandez donated $50,000 to a fund Patriots owner Robert Kraft set up to honor his late wife, Myra, and told reporters he would "live life as a Patriot."
"[Kraft] didn't need to give me the amount that he gave me, and knowing that he thinks I deserve that, he trusts me to make the right decisions, it means a lot," Hernandez said then. "It means he trusts my character, and the person I am, which means a lot, because my mother, that's how she wanted to raise me.
"They have to trust you to give you that money. I just feel a lot of respect and I owe it back to him. Not only is it $50,000 ... it's more, I have a lot more to give back, and all I can do is play my heart out for them, make the right decisions, and live life as a Patriot."
Also Thursday, Ernest Wallace, an associate of Hernandez, pleaded not guilty to murder in the shooting death of Lloyd.
Information from ESPNBoston.com and The Associated Press was used in this report.