This is the dumbest proposal I've ever seen for so many reasons.
Vegas will trade for Clarkson before they take on Horton. The leafs are probably the only club in the league that can swallow Hortons contract and not be an issue. Toronto is stuck with him.
It only counts until you spend up to the cap and then it goes away.
And when it comes to bonuses I've yet to see a definitive answer
Maximum actual dollars retained. No cap retained.
Double-helps Vegas get to the cap floor and gives them a stud winger to start with.
Leafs get a whole lot of freedom.
This is hands down one of the worst trade proposals I've ever seen. Horton doesn't even count against the cap, and Lupul has two seasons left on LTIR. I don't understand what the endgame is here.
if you have ltir it doesnt save you a penny until you are over the cap... so expect your cap to be maxed out (cap is calculated daily so its a bit more complicated but this much ltir pretty much maxes your cap)
bonuses that arent reached until end of year can be a problem for these sorts of situations.
that said, toronto gets away with crap and lou gets away with even more. im sure this will workout