CBA/Salary Cap/Waiver Question regarding Wade Redden

Im asking this here because if Im wrong on this, Id REALLY like to know and make a point of it. I dont think I am, but I need to know either way. I would not want to make a point of convincing people of something that is not correct.

I said this earlier today on TSN:

TheMetalChick: One problem I have with this article is with the somewhat misleading phrase 'The Wade Redden era in New York has come to an end.' This isnt really true. Since Redden has four years still remaining on his contract, and NHL contracts are guaranteed, he will be back again every offseason, for many years. Sounds like nothing except when you remember that there is a limit to how much over the cap a team can be during the offseason. Then they have to do all of this all over again... until they trade him, convince a healthy guy in his 30s to retire and give up 20+ million dollars for no reason, or buy him out. The truth of the matter is that the Redden era in NYC still has a long way to go.Oh and for people asking whether he gets paid his same salary in the AHL: Of course he gets paid his same salary in the AHL. Wade Redden was not on a 6.5M/6Y 2-way deal LOL.

And I got this response:

Dave_in_Jersey: You are wrong metalchick. He cannot rejoin the Ramgers, this year or any year following until his contract expires, unless the Rangers put him on re-entry waivers. Sure he can come to camp, but his salary won't be counted towards the in season or offseason cap unless he clears those waivers. They might invite him to camp, give him a chance to impress with the sole intention of attracting another team's interest, so they can reduce the cash they pay him by half, but they are under no obligation to do that. The Redden era IS over, unless they CHOOSE to bring him back for some misguided reason.
To which I in turn responded:
TheMetalChick: Dave_in_Jersey: You think so, huh? You think that just one waive of a player in Sept, 2010 will simply last until July, 2015? All those offseasons, etc mean nothing, and the Rangers never have to do anything again, Redden just POOF disappears forever?
I know he would have to go through re-entry waivers to come back to the NHL this season, I never said otherwise. My point was not about THIS season, but about subsequent seasons. Is one waive suddenly eternal? Am I wrong? I really didnt think so but this guy has me questioning myself. I can take it, so please just let me know if you can. Id like to be specific, as well- if there is something that states I am wrong, and waivers can extend throughout years that way, I need to know about it.

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