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National Hockey League Collective Bargaining Agreement -1993-2004
Article 9 
Entry Level Compensation


9.1. Applicability and Duration.  Effective with contracts
entered into after the date of the 1995 Entry Draft:

     (a) No Club may enter into a Player Contract with a Rookie
(excluding a player who is age 25 or older) that provides for
Compensation in excess of that permitted by this Article.  For
purposes of this Agreement, a Group IV Player under the age of 25
will be subject to this Article if such player was subject to
this Article at the time he became a "defected player" (as
defined in Section 10.2(b)(i)).

     (b) The period covered by the Player Contract for every
Rookie, and the number of years that such player will be in the
Entry Level System and subject to the Compensation limits set out
in Section 9.3, shall be as indicated on the chart immediately
below, and during such period, the player shall be deemed to be a
"Group I Player": 

First Contract Signing Age         Period Covered by First        
                                   Contract and Years in the      
                                   Entry Level System and Subject 
                                   to Compensation Limits
  
18-21                              3 years 
22-23                              2 years 
24                                 1 year 
25 and older                       No required number of years,   
                                   not in the Entry Level System  
                                   and not subject to limits on   
                                   Compensation


     (c)  (i)  In the event that an 18 year old or 19 year old
player signs a Player Contract with a Club but does not play at
least 10 NHL games (regular season and/or playoffs) in the first
season under that player's Player Contract, the term of his
Player Contract and his number of years in the Entry Level System
shall be extended for a period of one year, except that this
automatic extension will not apply to a player who is age 19
according to Section 9.2 by virtue of turning 20 between
September 16 and December 31 in the year in which he first signs
a Player Contract. 
          (ii)  In the event that a player signs his first
contract at age 18 and has had his Player Contract extended
pursuant to Subsection (i), and such player does not play at
least 10 NHL games (regular season and/or playoffs) in the        
second season under that player's Player Contract, then the term
of his Player Contract and his number of years in the Entry Level
System shall be extended for one additional year.  
          (iii)  In the event a player becomes a defected player
(as described in Section 10.2(b)(i)(A)) or, having signed a
Player Contract, ceases to render his playing services called for
thereunder (except as a result of injury or illness), in each
case during such period that he is in the Entry Level System,
then during such defected or non-playing period, as the case may
be, the player's number of years in the Entry Level System shall
be extended for a period equal to the remaining unfulfilled
portion of his Player Contract.   
          (iv)    The return dates to Major Junior (as
established by Agreement between the NHL and the Canadian Hockey
League, dated May 2, 1995, (or any successor or similar agreement
so long as there is no material change in those return dates)),
and the prohibition on sending underage players to the Minor      
Leagues (as set forth in Section 8.7) are hereby confirmed and
affirmed and are continued during the term of this Agreement and
any extension hereof.

9.2. Age of Players.  As used in this Article, "age", including
"First Contract Signing Age," means a player's age on September
15 of the calendar year in which he signs a Player Contract
regardless of his actual age on the date he signs such contract.

9.3. Compensation Limits.

     (a) The maximum annual Compensation, including any bonuses
for games played, permitted to be paid to a Group I Player shall
be as follows:

Draft Year                         NHL Compensation

1995                                    US$  850,000
1996                                    US$  875,000
1997                                    US$  925,000
1998                                    US$  975,000
1999                                    US$1,025,000
2000                                    US$1,075,000


All amounts are the maximum annual amounts for each year of the
player's first Player Contract.  For example, an 18 year old
player drafted in 1995 and signing a Player Contract at the age
of 19 must sign a three year Player Contract, with a maximum
Compensation of U.S. $850,000 per year.

     (b) The aggregate of all Signing, Reporting and Roster
Bonuses attributable to any League Year to be paid to a Group I
Player may not exceed 50% of the player's Compensation for such
League Year.  Games played bonuses attributable to a League Year
shall be included in Compensation for that League Year at their
full potential value (e.g., assuming all such bonuses are earned)
and shall be treated as Paragraph 1 Salary.

     (c) For greater certainty, nothing contained in this Section
9.3 shall be deemed to limit the amount permitted to be paid to
any Group I Player in respect of any Exhibit 5 Performance
Bonus(es).

     (d) The provisions of this Article 9 (including without
limitation, the minimum performance levels specified on Exhibit
5) shall have no application to any player other than a player
who is subject to the Entry Level System in accordance with this
Article 9.

9.4. Minor League Compensation.  Each Player Contract entered
into with a Rookie in the Entry Level System shall automatically
be deemed to be a "two way" contract with a minor league salary
equal to the minor league salary set forth in such Player
Contract or, if no minor league salary is set forth, the greater
of (i) $25,000 and (ii) the minimum minor league salary provided
for players in the Minors; provided, however, in no event may
such a Player Contract provide for minor league Compensation,
including any bonuses for games played, greater than 50% of the
NHL Minimum Compensation.  The maximum Compensation payable to a
Group I Player who is playing in the Major Juniors shall be
$7,500 for players drafted in the 1995, 1996 and 1997 Entry
Drafts and $8,500 for players drafted in the 1998, 1999 and 2000
Entry Drafts.

9.5. Implementation.  For purposes of determining whether a Group
I Player's Compensation is within the limits permitted in this
Article, notwithstanding any provision in a Player Contract to
the contrary or when such payments are actually made, the
following rules shall apply in determining the components of a
Group I Player's Compensation that are to be attributed to a
given League Year and the value thereof:

     (a) Any and all components of Compensation paid, granted or
provided to a Group I Player during the term of his Player
Contract, shall be included in Compensation for the League Year
in which it is contractually required to be paid, granted or
provided, or in the case of annuities, insurance policies and the
like in the League Year which they cover or in which they are
otherwise payable, or when the Player first has the right to
require such payment, grant or provision, or at the first date at
which the Club has the option of making, granting or paying such
Compensation, whichever occurs first, in accordance with the
terms of the Player Contract and any underlying documentation.

     (b) Any and all components of Compensation to be paid,
granted or provided to a Group I Player after the term of his
Player Contract, including without limitation, annuities,
insurance policies and the like ("Deferred Compensation"), shall
be included in Compensation for the League Year to which it is
attributed or to the League Year in which the Player first has
the right to require such payment, grant or provision, or at the
first date at which the Club has the option of making, granting
or paying such Compensation, whichever occurs first, in
accordance with the terms of the Player Contract and any
underlying documentation.  All Player Contracts entered into by
Group I Players after the date hereof shall specify the League
Year to which Deferred Compensation is attributable.  Components
of Deferred Compensation shall be valued as follows:

                  (i)     Deferred Compensation which includes an
interest component shall not be discounted for present value
purposes and shall be included in Compensation for the League
Year to which it is attributed or to the League Year in which the
Player first has the right to require such payment, grant or
provision or at the first date at which the Club has the option
of making, paying or granting such Compensation, whichever occurs
first, in accordance with the terms of the Player Contract and
any underlying documentation (A) at its face value for Deferred
Compensation which is cash Compensation, or (B) at its fair
market value for non-cash components of Deferred Compensation, or
(C) at its cost for annuities, insurance policies and the like,
as the case may be, determined in accordance with this Section.

                 (ii)     Any and all components of Deferred
Compensation which do not include an interest component shall be
included in Compensation for the League Year to which it is
attributed, or in which the Player first has the right to require
such payment, grant or provision or at the first date at which
the Club has the option of making such payment, grant or
provision, whichever occurs first, in accordance with the terms
of the Player Contract and any underlying documentation, at its
present value based on the 12 month treasury bill rate (the
"T-Bill Rate") published in the Wall Street Journal on the
preceding February 1, or the first business day thereafter if
February 1 is not a business day, such present value calculation
to be based upon (A) the face value of such Deferred Compensation
if it is cash Compensation or (B) fair market value for non-cash
components of Deferred Compensation or (C) cost for annuities,
insurance policies and the like, as the case may be, determined
in accordance with this Section.

     (c) Notwithstanding anything in Article 11 to the contrary,
a Player and Club entering into a Player Contract not in
conformance with this Article shall be so notified by the League
and shall have 48 hours from receipt of such notification by Club
and Player or his Agent and the NHLPA to renegotiate the
provisions of such Player Contract and to submit the Player
Contract for approval.  Failure to timely resubmit a Player
Contract in conformance with the above shall result in the
offending Player Contract being submitted to the Impartial
Arbitrator who shall make such revisions as are necessary to
bring the Player Contract into conformance.

     (d) Except as set forth in subsection (b) above,
Compensation payable in cash or cash equivalents shall be
attributed a value equal to its face value.

     (e) Except as set forth in subsection (b) above, any and all
non-cash components of Compensation (e.g., automobiles, housing,
air passage, art, reimbursement of expenses in excess of that
which the Player is entitled to in accordance with this
Agreement, and the like, including the use thereof) attributable
to a League Year in accordance with this Article shall be
included in Compensation for that League Year at their fair
market value.  The Player and the Club shall designate the fair
market value of any such non-cash Compensation in the Player
Contract, although such designation shall not be binding on the
NHL and the NHLPA.  If the parties dispute the fair market value
of any component of Compensation, such dispute will be submitted
to the Impartial Arbitrator.

     (f) Annuities, insurance policies and the like shall be
valued at cost.

     (g) No Club may make any Compensation advance or loan to or
for the benefit of a Player or guarantee or securitize any loan
to or for the benefit of a Player unless the aggregate
outstanding amount of all such advances or loans is at all times
less than 2/3 of the remaining Compensation due to Player under
his current Player Contract.

     (h) In the event a Club makes a Compensation advance or loan
to or for the benefit of a Player or guarantees or securitizes
any loan to or for the benefit of a Player, which loan or advance
bears interest at an annualized rate which is less than the
T-Bill Rate, then the product of the amount of (A) the
outstanding amount of such loan from time to time multiplied by
(B) the difference between (y) the T-Bill Rate minus (x) the
annualized interest rate of such loan, shall be included in the
Player's Compensation in the applicable year during which there
is any loan amount outstanding.

9.6. Exhibit 5 Performance Bonuses.  Notwithstanding anything to
the contrary contained in this Article (including, without
limitation, Section 9.3) or this Agreement, Clubs and Players may
freely negotiate, and a player who is subject to the Entry Level
System under Article 9 may be paid, any amount(s) for any Exhibit
5 Performance Bonus(es), which amount(s) shall not be included in
determining or calculating a player's maximum annual Compensation
pursuant to Section 9.3.  Nothing contained in this Article shall
limit (i) the amount of, or the criteria for earning, any bonuses
for players who are not in the Entry Level System or (ii) the
criteria for earning games played bonuses for any player.

9.7. Player Contract Extensions.  Player contracts for players
subject to the Entry Level System may not be extended.

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