Guaranteed money is a signing bonus PLUS any guaranteed salary.
It would be perfectly normal to guarantee to a player that his first years salary will be paid no matter what. So if this is the deal, the guaranteed money is the entirety of the signing bonus (paid upfront) PLUS the first years salary. So if Cruz gets a bonus of $11MM and his first years salary is $1.5MM, his guaranteed money is $12.5MM. He will get the signing bonus up front (even though they are generally spread out over the life of the deal) and get his salary during the season.
If get tears up his knee and can't play anymore, he would keep the $11M and get his salary during the course of the season.