First off... it is crazy that $500,000 per year is seen as not a significant difference. (I'd do a LOT for $500,000
)
Anyway...
If the "Top 7 money" is $11.5 million/year, for the three years that he is a free agent, that's already $34.5 million, which is only half a million less than the amount that you suggested ($35 million) for five years. Only $500,00 for two years??? That's not gonna work.
(Again, I'd take $250,000 per year!!!)
So, if we add in the $540,000 minimum for year one, plus the RFA price tag of $1.5 million, that gets us up to a minimum (IMO) of five years/$37 million.
Maxing out (the other end) would be $60 million.
SUMMATION:
Half way between $37 million and $60 million is $53.5 million. Considering that the Steelers don't have to do anything (they have leverage) five years/$50 million seems reasonable... although, I'd be perfectly fine with giving him five years/$55 million.