I will try to explain the new draft system the best I can.
MLB has a slot system in place to try to level the playing field in the first 10 rounds. It ranges from 6mil to 125k at the end of the 10th round. Clubs can pay over slot but it comes out of their pool of money. Meaning if they over pay for one pick they can't sign another or have to underpay.
Anybody after the top 10 rounds can only get 100k unless a club is willing to pay a huge fine. I don't think any clubs did that last year. This is a huge help to colleges since they know if a signee is after round 10 then 100k is biggest offer they will receive.
Yes all kids can get their college as part of their contracts. Only the top drafts get incentives in their deals