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Old 06-30-2013, 06:34 PM   #223 (permalink)
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Join Date: May 2008
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In the collective bargaining agreement that went into effect on December 9, 2011, the mid level exception will be a lot more limited.
Teams under the luxury tax threshold can offer four-year contracts starting at $5 million, with three percent annual increases. Tax-payers are limited to three-year offers starting at $3 million. The base salaries will increase by three percent every year starting in 2013-14.

Teams that go under the cap at any point cannot use the mid level exception, but can sign players using the "Space Exception" introduced in the 2011 CBA.
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