A weaker version of the Larry Bird Exception
to salary cap rules, this variant is called "Early Qualifying Veterans Free Agents
" in the CBA
. Unlike in the Larry Bird exception, which is a total of three seasons
, a player qualifies for this in two seaons
of play. Note, however, that this play must be without being waived or changing teams as a free agent
By using this exception, a team may resign the free agent at 175% of salary, or average player's salary, whichever is greater. This salary may bring the team above the salary cap for the team - hence, the term exception. While under this exception, a player may receive up to 12.5% salary increases, this can last no longer then six seasons.