I could be misremembering, but I think most of the guaranteed money in his contract is only until next season. So if you want to be optimistic, he could be cut after the '16 season with relatively little penalty. (Again, only if you want to be optimistic) So the Chiefs could tank this season, draft a QB, let him sit and develop a year, cut Alex after the season and ride or die with a 2nd year QB.
I know there's very few here who choose to be that optimistic, and JC's injury has me in that group as well, but just throwing it out there as a hypothetical situation.