Are you severely mathematically challenged or what?
For starters, if he has a base of 7 mil in the first year, a signing bonus of 35 mil, his guaranteed contract has to be at least the sum of the two figures for a 42 mil guaranteed. You can't take any of the signing bonus back dufus (seeing how your so quick to point out itty bitty details). Any contract written, even with your 35 million dollar SB original example, has to include at least the first year base salary, in the guaranteed money.
Second of all, a 35 mil signing bonus if virtually unheard of for a player of JG caliber. To my knowledge the highest signing bonus to date is Aaron Rodgers at 33 mil. But continue to pull numbers out of your ass to try to make a point.
Next is the fact that over the five years of your fictitious contract JG will only make 80 mil, or, 16 mil a season, avg. Congratulations, you have just had your client possibly sign the absolute worst contract (relative to earning potential at that time frame) in the History of the NFL. In your effort to make it cost preventative to cut your client, you have also made it a terrible contract should your client be worthy in the future of a top 5 contract.
By comparison, Matt Stafford, after his new contract is settled, should be making close to 25 mil a season. Now, I don't think JG deserves Matt Stafford money yet, but good lord, your locking him into the next five years at 16 mil? LMFAO.
So, this leaves us with the fact that no GM in his right mind would ever write that contract, and no agent would have his client sign that contract either.
Jimmy would still be much better off playing under the tag for 25 mil in 2018, and testing the FA waters (or maybe a second tag for 30 mil) in 2019, over your insane example.