Ah -- ok, got it. Interesting. I think there's also some kind of concept where if a player qualifies for the minimum salary cap relief for veterans benefit, then it can also affect the comp formula. But after some googling I really couldn't find anything other than stuff explaining the cap benefit for low salary vets, but not anything about comp pick affect.If I remember, the club option means when you decline it, they become free agents -and- will count as part of your compensatory formula, as opposed to just cutting a player. So a two year contract that includes an option year basically lets you spread out the signing bonus, but will not cost you a compensatory pick if you decline the option instead of just cutting them.
So the structure in this case may be more about giving them a shot at picking up a low-round compensatory pick NEXT year instead...