Indianapolis gave Boston College OT Emmett Cleary a $20,000 signing bonus, second only to John Lotulelei, a UNLV linebacker signed by the Seahawks. The article also states "NFL teams could spend a maximum of $78,170 in signing bonuses on undrafted rookie free agents," meaning the Colts spent over a fourth of their allotment on this player. Cleary clearly (sorry) must've been in high demand following the draft. The signing bonus is fully guaranteed and will count against the cap if he's cut.
Colts trade LB Jerry Hughes to Buffalo for LB Kelvin Sheppard. Sheppard has 150 tackles over the last 2 seasons, starting 24 games. I believe this confirms Jerry Hughes as a 1st round draft bust. Although he made progress last year clearly Grigson isn't a patient man!