Just wanted to make sure that I get this correct. As long as player is cut prior to 1st regular season game the bonus is not due?

No. You have to cut before training camp and "void contract." At this point, if there is bonus money (1st 4 rounds pick) you have to eat the bonus on a cut.

Oh crp, I messed that up. I had it wrong. So you have to make a cut prior to TC before you even know if the player booms or busts? or do you mean right after TC prior to 1st preseason game.
If as you say before TC no one would do that so then always have to eat the bonus

That's my understanding. Someone will correct me if I'm wrong. If there is a particularly weak draft class and you are in cap troubles, I can see someone voiding a 4th round pick. That said, we saw the previous season someone void the contract of the #1 overall pick. It does happen!

I've voided 3rd round picks (that auto picked while I was at work), if I think the contract is more than the player is worth.