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He must receive a "qualifying offer" from his team, or he becomes unrestricted. A qualifying offer will be 100 per cent of last season's salary for players making under $800,000, and 75 per cent of last season's salary for those making over $800,000. A restricted free agent can accept an offer from other teams...
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A restricted free agent can accept an offer from other teams. But his old team can match the offer or receive compensation, as in the previous free agent system. A restricted free agent must sign a contract within 14 days of the opening of training camp, or be ineligible to play that season. This is designed to prevent lengthy hold-outs in contract disputes...
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