San Jose is still $17M below the floor with no significant RFAs, plus they have Vlasic's contract expiring next summer, plus they're probably adding an ELC with whoever they draft this year. They need to add a lot of salary. They would make sense more as a location for Hamilton than Palat, truth be told.
It goes to show just how much salary you need to add as a rebuilding team though, San Jose has $13M in dead money between buyouts, retention, and Couture, plus they have Vlasic who is basically dead money - having a bunch of ELCs and young players, you need a lot more money elsewhere. The max ELC has barely gone up since the 2005 CBA and so we're entering a world where ELCs take up 1/100th of the cap where they used to take up something like 1/60th.