Bogans' contract, which is scheduled to pay him $5.3 million this season and $5.5 million next season, is also non-guaranteed. Coupled with center Brendan Haywood's non-guaranteed, $10.5 million salary in 2015-16, the Cavs could have more than $16 million in non-guaranteed money to use as trade chips next year.
Cleveland also gets second-round picks in 2015 and 2017 from Boston, via Sacramento, that are top-55 protected.
Bogans, 34, has averaged 6.3 points per game in 11 NBA seasons for eight different teams. He played only six games for the Celtics last season, as they excused him from the team in January.
The Cavaliers open training camp on Saturday.
- Chris Mascaro