No when you win a guy in FA you can assign years
[3.2 Assigning Contracts]
Players acquired through the off season UFA must be assigned a contract length of up to 5 years and are able to be assigned one of two contract types:
& #8226; Straight contract: This is a contract value of the full winning bid amount, no cap penalties are incurred when cutting a player with this type of contract.
& #8226; Bonus contract: This is a contract value of 80% of the winning bid amount. The remaining 20% becomes a bonus which is not included in the team’s salary cap. If a player is cut, the bonus becomes a cap penalty equal to the number of years, multiplied by the bonus amount.
& #8226; Each team has a contract limit of 80 years, the total of all contracted years cannot breach this amount.
Players picked up on waivers during the year get automatically assigned 1 year deals
[5.2.1 Blind Bid Waivers]
 All players added via blind bidding automatically receive a 1-year, straight contract.