If a club tenders an offer of $685,000 per year for a three-year veteran, and $725,000 for a four-year veteran, the player's current team has "right of first refusal" over the contract at those terms, and may sign the player at those terms.
If a club tenders an offer of $712,000 or 110% (whichever is greater) of the previous year's salary, then the current club has both "right of first refusal" and rights to a draft pick from the same round (or better) from the signing club. Essentially, this means that the new club must forfeit the draft pick to the old club if they wish to sign the player under these terms.
If a club tenders an offer of $1.552 million or 110% (whichever is greater) of the previous year's salary, then the current club has both "right of first refusal"; and rights to the first round draft pick from the signing club.[63]