No you aren’t.
You can guarantee $20M of a contract and have no signing bonus.
So here are the contracts.
4 year, $20M guarantee
Cap hits 8, 9, 11, 12. If cut after year 2 cap hit is 3M, after year 3 cap hit is 0
4 year, $20M signing bonus guarantee.
Cap hits 3+5, 4+5, 6+5, 7+12 or 8, 9, 11, 12 same as above.
If cut after 2 years cap hit is $10M, after year 4 cap hit is $5M