I don't expect Bynum to get a contract extension. If I'm LA, and I expect LA to do this, I'd wait the year and let him prove his fitness. No need to take the risk. He's a restricted free agent anyway. Just play out the year.
Bynum is worth a max contract. He's already a better player than guys like Bogut and his potential is massive, and you'll have to pay a good bit on his potential.