Vazquez and Encarnacion were signed for less than 300K as well as Ramos. They only took away the ones signed for over 300K, as that would have been their limitation.
I think they kept Drew, becauise they had no idea on how to handle making him a "free agent"
I also think the problem with Waters was that we "offered" illegal compensation but in the end his signing was perfectly legitimate. Considering the offer was in jest, taking a third rounder is absolutely absurd. Voiding Waters contract may have drawn a lawsuit.