Just a trade exception, but it keeps the Cavs out of the luxury tax at the moment and gives them the same flexibility as Bogans non-guaranteed contract gave, aside from being able to package him with other players, as they can't do it with a TPE.
I was also going to comment on him having the Bulls as the leagues 2nd best team, and the Cavs at 5, but I forgot that I'm in the minority here on thinking the Cavs are better than the Bulls.