
Chicago Bulls sign Cameron Bairstow
Wookiee, by way of example:
1. If the Bulls elect to waive Bairstow before the 14/15 season begins (for whatever reason) they will owe 100% of his 14/15 salary as it's fully guaranteed, 50% of his 15/16 salary and 50% of his 16/17 salary.
2. If Bairstow is waived after the 15/16 season then he will only be owed 50% of his 16/17 salary. He will have already earned 100% of his salaries for the 14/15 and 15/16 seasons.
If Bairstow were to be waived mid-season, how much he's owed might depend on whether this occurs before a certain date.

If he gets the opportunity and stays healthy I think they will renegotiate before the second year is up, great news for another hard working Aussie...

How can something be 50% guaranteed? I really don't get the contract side of the NBA... does that mean if they don't take the option up on Cam, he still gets half the cash even if not on the team?

Actually, it is a 3-yr deal according to Geoff Grammer of Albuquerque Journal:
Chicago Bulls sign former Lobo Cameron Bairstow
Specific financial terms of the deal were not disclosed, but the Journal has confirmed the contract is for three years with the first year being fully guaranteed and year two of the contract being 50 percent guaranteed. The NBA’s rookie minimum salary for the 2014-15 season is $507,000.

Super effort...testimony to hard work

Rumours were true! Great work Bear!
"Per team policy, terms of the contract were not disclosed."
While initial rumours centered around a 3-yr deal, it is more likely a 2-yr deal.

