They converted $7 million of his base salary this year into a bonus and spread that over the remaining years of the contract. By doing that, instead of saving millions as a regular cut next year, he's now only a net cap savings of $400K. They'd have to make him a June 1 cut to make it worthwhile but the reality is that if you are cutting a guy a year after a restructure, that's just bad cap management.
When you restructure, the ideal plan is have the player play out multiple years because you can spread the restructure over a long period. You don't want to cut a guy one year after you just restructured him. That's just not very smart roster building there.