According to a Tweet from the Atlanta Braves, the team has signed its top draft pick in the just-completed 2012 draft, Lucas Sims.
The Braves have signed top draft pick, RHP Lucas Sims. He will join the GCL Braves at the Braves facility at the ESPN WWOS Complex on 6/12.— Atlanta Braves (@Braves) June 7, 2012
So far the Braves have "officially" signed two player, Sims and fifth-round pick Blake Brown. They have agreements in place with six other players, though there is no word on whether they have officially signed.
Sims apparently signed for $1.65 million, which is $175,000 below the slot recommendation of $1.825 million. With some of the money the Braves saved, they apparently signed 12th-round pick Connor Lien to a $375,000 bonus, which is $275,000 over slot. The Braves will get penalized if they go over slot, but can avoid that penalty by staying under a cap of $4,030,800 for all of their bonuses with their first ten picks, plus any additional bonuses for later picks that go over $100,000.
It's complicated, and there is a lot of math involved. To rephrase it, the Braves have $4,030,800 for all their bonuses across their first 10 picks (first 10 rounds). If they go over that number, then they are penalized. If they stay under that number, then they can use that additional money on bonuses for players drafted after the 10th round. That overage would need to apply to any post-10th round bonus over $100,000.
The Braves used rounds seven through ten to select players who will likely sign for less than their recommended slot. That should give them additional funds to spend on bonuses after the tenth round. They also reportedly paid their second pick, Alex Wood, a bonus higher than slot.