5.1) The draft will consist of six (6) rounds. Draft picks can be traded during the draft, or anytime between the start and close of the trading period. Franchises will only be able to trade draft picks two years into the future. (Ex. In 2012 you will only be able to trade draft picks up to and including 2013).
5.2) All rookie contracts will come out of the pool of 95 contracts that all teams are allotted. The franchise will assign rookies a contract anywhere from 1 to 5 years.
5.3a) The following is the breakdown of the rookie slotting for the 2014 season.
1st Round 2nd Round 3rd Round 4th Round 5th Round 6th Round
1: 2.85 mil 1.65 mil 800K 350K 300K 300K
2: 2.75 mil 1.60 mil 800K 350K 300K 300K
3: 2.65 mil 1.55 mil 800K 350K 300K 300K
4: 2.55 mil 1.50 mil 700K 300K 300K 300K
5: 2.45 mil 1.45 mil 700K 300K 300K 300K
6: 2.35 mil 1.40 mil 700K 300K 300K 300K
7: 2.25 mil 1.35 mil 600K 300K 300K 300K
8: 2.15 mil 1.30 mil 600K 300K 300K 300K
9: 2.10 mil 1.25 mil 600K 300K 300K 300K
10: 2.00 mil 1.20 mil 500K 300K 300K 300K
11: 1.95 mil 1.15 mil 500K 300K 300K 300K
12: 1.90 mil 1.10 mil 500K 300K 300K 300K
13: 1.85 mil 1.05 mil 400K 300K 300K 300K
14: 1.80 mil 1.00 mil 400K 300K 300K 300K
15: 1.75 mil 950K 400K 300K 300K 300K
16: 1.70 mil 900K 400K 300K 300K 300K
5.4) Sixteen uncontested hours is the time frame for signing free agents via the auction from tbd until the beginning of the season. Once the season starts until the end of your season, blind bidding and FCFS decides where free agents land.