I'm no cap expert but it looks like he'll make $1.8m salary next year with a cap hit of $3.2m. If we exercise the 5th yr and assume its $10m, then we would get him for two years at around $12m, or $6m/yr. Beyond that, no dead cap money at all.
That seems reasonable unless you can work out a 4 or 5yr "role player" type contract, like others stated above.