You highlighted the wrong sentence.
Quote:
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If the claimed player is subsequently released during the length of the same contract, the waiving team will receive a cap hit of only 10% of the current years salary, as the singing bonus is to be considered paid by the original team.
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This is where you fall with Manningham and Buffalo D. If they are subsequently picked up after being waived a 2nd time in-season, THAT team would be able to drop them without penalty.
In your case there is a 10% cap penalty for dropping Manningham and Buffalo D if you go that route.