They can get out of both deals with little to no damage with a June 1st cut. The impact year would be 2015, but the salary cap should be in the 132-133 range for that season. Stew would cost the team 4.5 million in 2015 and that's it.
Team would eat the balance on this year of 6 million and then eat 12 million in 2015. Costing the team roughly 4.5-5 million to get out from under his contract. Dwill would save the team money in 2015 and counteract that hit a bit. So if you add both deals together the team would get a hit of around 1-2 million on 2015's cap by designating them as June 1st cuts.