It's times like this that I'm proud I stuck to my guns in support of Tim Ruskell. This deal is beyond belief.
The deal counts $5 million against the salary cap in the first year, down from the $8.3 million total for the franchise tag. The deal includes escalator clauses starting in the third year, but the team could walk away after two seasons and save money under the cap. In other words, Seattle won its gamble in withdrawing the franchise tag.
Seattle locks up Hill for his age 27 and age 28 seasons at an average of less than $6 million a season. That makes his second season essentially another contract year. Seattle can then keep Hill, opt out of the contract or use their leverage to renegotiate the deal. The Seahawks hold all the cards.