It sounds a little better than that, but not by much. They mention jogging in this ESPN article.
http://espn.go.com/chicago/nfl/story...act-terminated
It's definitely a sad story, and he indeed may never play again. That being said, I don't think it's too crazy to envision a Jake Ballard-like scenario, where he's brought on and immediately placed on PUP. Give him another 12 months and gauge his progress, and if it looks like he doesn't have a decent shot of returning to the field, cut him. At least, that seems like a low-risk option.