EARLY BIRD EXCEPTION -- This is a weaker form of the Larry Bird exception, and is also a component of the Veteran Free Agent exception. Players who qualify for this exception are called "Early Qualifying Veteran Free Agents" in the CBA. A player qualifies for this exception after playing two seasons without being waived or changing teams as a free agent. Using this exception, a team may re-sign its own free agent for 175% of his salary the previous season or the average player salary, whichever is greater (see question number 24 for the definition of "average salary." Also note that for 2005-06 they used a defined figure of $5 million) As a question, wouldn't this apply to Memo?