The deal that Cunningham signed allowed the Cavs to cut him today and owe him nothing further. If he is still on the team’s roster by 5PM the rest of his contract is guaranteed.
According to Chris Haynes, the Cavs plan to keep the speedy leaper, at least long enough to guarantee his contract:
Sources: #Cavs plan to guarantee contract of G Jared Cunningham to remain with team past today’s 5 p.m. deadline https://t.co/qUfoDpkcKc
— Chris Haynes (@ChrisBHaynes) January 7, 2016
Haynes says that his contract is fully guaranteed at &981,348.