Similar situations to Cueto's extension in 2011. I also wouldn't be opposed to a more expensive team option (something like $18-$20M) for 2018 in this scenario if they were bent on signing something that would mimic a 5 year deal. Bruce (and maybe Choo)'s contracts would be up that year, and Phillips would already be off the books, so those may still be affordable and well worth it.'
This would confirm a Reds window of contention through 2017, with 2018 looking to be a major rebuilding year. That would be awesome.