You are correct. I read an article that said the Colts could "protect " four players . They went on to say that Eason was 100% sure to be designated as one of those. I assumed that this meant they didn't have to clear waivers. I just did find an article explaining it . As you say he can be signed by another team after he is waived. Furthermore , it appears that teams can sign these players on Mondays and Tuesdays. IMO , this new rule is pretty useless . It certainly does not provide what I inferred.