Details have emerged from a league-issued memo circulating to teams, players and agents.

The contract length will be five years for Bird rights players and four years for non-Bird.

There will be no reduction in the Rookie Scale or the minimum salary.

Max salaries will only have one level and it will be equal to 30% of the salary cap, while sign-and-trades will be allowed.

The new exception will be $2.5 million for teams below the cap to go over the cap. Those teams can't use the mid-level or bi-annual exceptions.

For the mid-level exception, teams under the luxury tax can pay $5 million annually for up to four years, while teams over the tax have a $3 million offer for up to four years.

There also will be a 10% annual escrow system.

The minimum team salary increases to 85% in the first two years and 90% in years thereafter.