washingtonpost.com
Some one was asking earlier if Lloyd was a June 1st cut, here's what this article said:
"...was designated a June 1 cut for salary cap purposes, executive vice president Vinny Cerrato said, which means his salary cap figure of $4.2 million will drop to $1.8 million on June 1. (Lloyd will count $5.5 million in dead cap space in 2009.)"