There's also a genuine possibility that they did come to an agreement on the 5x9 deal, but can't finalize the minutiae. Which would mean this whole conversation about bridge deals and money and term is all futile, because now the only concern is bonuses and structure.
I don't think they've made it clear in so many words, but if you're Guerin, you have to be thinking he's going to go to UFA when this contract is over, and you have to realize that it's very likely he doesn't sign with us. I think the questions left for Guerin at this point are, if you can get him locked up to your 4,5 year deal, how long before you move him? You can't let him walk to free agency, but do you wait until that last year, try to negotiate something before he walks, and then trade him before the deadline if he doesn't wanna talk? I'd bet that's what Guerin does, even though there's merit to trading him sooner.