Milwaukee will stretch Hawes' $6 million salary for the 2017-18 campaign over the next three seasons since the league's collective bargaining agreement states stretched salaries must stay on a team's cap sheet for "twice the number of years remaining on his contract, plus one."
The Bucks initially acquired Hawes and Roy Hibbert from the Charlotte Hornets in exchange for Miles Plumlee in February.
While Hibbert was traded to the Denver Nuggets weeks later, Hawes hung around and managed to carve out a small role off head coach Jason Kidd's bench.
Over the course of 19 appearances with the Bucks, Hawes averaged 4.4 points and 2.2 rebounds in 9.0 minutes per game.
It's hard to envision Hawes—who has played for five teams since the start of the 2013-14 season—garnering more than a veteran minimum flier at this point in the offseason.
But with a solid three-point stroke and high-post passing skills, he might be worth a look in training camp by teams in need of additional frontcourt depth.