I'd try to restructure and keep him. For a long time.
Carpenter has three of the traits most valuable in a kicker -- initial height, effortless distance and great mechanics.
The latter is particularly undervalued. I've mentioned previously that my friends and I play a little game, betting tourists on which side of dead center the kick will end up. It's not difficult at all once you know what to look for. Feels like stealing. Carpenter is one of the few guys, the very few number of guys, who we never use during those bets. His setup mechanics are ideal. If he misses it's due to a push or pull but he never lines up improperly.
He got a bit quick during his slump then relaxed later in the season.