A $1,000,000 qualifying offer is required to retain the RFA rights of Richard Pánik. A two-way qualifying offer is permitted since Pánik has not met both the games played and waivers requirements. The qualifying offer is equal to 105% of the previous contracts final season base salary because the salary was greater than $600,000 and less than $1,000,000. However, because the 105% increase results in the contract exceeding $1,000,000, the contract is limited to $1,000,000.