Apparently Bears think that Glennon has a higher value than Taylor, and Browns, 49ers & Jets probably weren't going to pay Tyrod more than what the Bills were offering in a restructure.
Trying to back into the contract numbers from what's been reported, it looks like Taylor dropped his salary to $8mil from $12mil, and will get a $7mil signing bonus, which will bring his cash pay in '17 to $15 million, and in line with his market value.