Didn't the Bengals already pass on franchising Joseph?
If the league somehow winds up playing 2011 under the 2010 rules, then Joseph is still a RFA and would cost a 1st & 3rd as compensation. If Joseph becomes an UFA, then he will get slightly less than Nnamdi money.
The 1st and 3rd is negociable and would come out of the 2012 draft. (I think that's the case.)