I believe the difference is that some players were under short term week to week contracts for the preseason. If they had made the final cut, a contract would have been offered instead they were "released". The players who were under contract for this season had their "contract terminated".
It has to do with how long you have been in the league, etc. Under four years you get "waived" which allows others to pick you up with your contract intact. After four years you get "released" which allows you to sign like an UFA with anyone for whatever the market will bear. "Contract terminated" is frankly a term I've not seen used before but given Cook's years in league it must have the effect of a release.
I've always wondered this myself...I always thought the other way sounded worse though....I figured Release means they tell the guy nicely like "I'm sorry guy, you just didn;t make the team"....while "contract terminated" went something like "get the f#@! out of here, and you see this contract??? it's been terminated!!!" (ripping contract down the middle)
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