Re: Kevin Walter can go sit on the bench..
According to spotrac, KW received a $1M bonus in 2011 to bump his overall salary to $3M.
I try to compare his contract with other #2 receiver on 15 other teams (starting in alphabet order: AZ, ATL, and so on,) I found that there's only one team with two receivers having a better contract than KW (the Bears with Edwards and Hester.)
KW's contract is actually better than that of the #1 receiver on some team.
Paycut or no paycut, he's still very well compensated.