Question on Rookie Bonus and Reneg
The rules read as follows: Further, each rookie will have a maximum salary that his contract can hit with incentive bonuses. The maximum salaries will vary on position and round drafted. When calculating for the maximum salary, the player will first be assessed his 10% annual contract increase, and then any applicable signing bonus will be applied up to the maximum salary payable according to the players position and the draft round and pick the player was drafted in. Once an incentive clause bumps the contract at or above the maximum salary, incentive bonuses will no longer apply, although the 10% annual contract will still apply on any remaining years of the contract.
My question concerns RB Chris Johnson as I'm deciding if I want to reneg his contract. CJs current salary is $3,056; a 10% increase for 2012 brings his contract to around $3306. $3200 is the amount where the rookie bonus no longer applies (without the bonus cutoff he would receive a $480 bonus).
I can interpret the rules and reneg as follows: $3056 + $300 = $3356 (2011 salary) the add 10% (336) for a 2012 salary of $3692. Is this correct?
Thanks
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