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Mike Smith Qualifying Offer

A $997,500 qualifying offer is required to retain the RFA rights of Mike Smith. 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.

Reference Contract

SIGNING DATE:Feb. 7, 2007
LAST YEAR:2009
ANNUAL AVERAGE:$950,000

Salary Calculation

PREVIOUS SALARY:$950,000
SIGNING BONUS:$0
BASE SALARY:$950,000
MULTIPLICATION FACTOR:105%
QUALIFYING OFFER:$997,500