Franchise Tag

Exclusive Franchise Player
An "exclusive" franchise player -- not free to sign with another club -- is offered a minimum of the average of the top five salaries at the player's position as of April 16, or 120 percent of the player's previous year's salary, whichever is greater.

Non-Exclusive Franchise Player
If the player is offered a minimum of the average of the top five salaries of last season at his position, or 120 percent of the player’s previous year’s salary, he becomes a “non-exclusive” franchise player and can negotiate with other clubs. His old club can match a new club's offer, or receive two first-round draft choices if it decides not to match. The signing period for non-exclusive franchise players to sign with new clubs is March 3 through November 9 (10th week of the season).