Taxi Squad Compensation

I have a question about the taxi squad compensation...

Shawn, Spartacus Smash (now referred to as SSS), has bid on three players unprotected on Taxi Squads.

In 2012:
B. Irvin was pick 3.12
JM. Johnson was pick 4.05
G. Childs was pick 4.08

SSS has no 4th round picks, but has three 3rd round picks(3.05, 3.06, 3.13). With that in mind:

Orions Belt would receive a 3rd as compensation for taxi squad bidding on Bruce Irvin.

But for the two 4ths, would JM Johnson get the higher of the remaining two 3rd round picks SSS has, since he was a higher pick in the draft?

In which case the following would transpire:

Orions Belt receives 3.05 for Bruce Irvin
Orions Belt receives 3.06 for JM. Johnson
Scurge of Olympus receives 3.13 for G. Childs

Does that sounds like how this is to play out or what is the plan?

Thanks
Jeremy
Orions Belt

Ure right Jeremy.