4 / 14

Boston Bruins v Montreal Canadiens - Game Three

MONTREAL, QC - APRIL 18: Scott Gomez #11 of the Montreal Canadiens controls the puck in behind the net while being pursued by Adam McQuaid #54 of the Boston Bruins in Game Three of the Eastern Conference Quarterfinals during the 2011 NHL Stanley Cup Playoffs at Bell Centre on April 18, 2011 in Montreal, Canada. (Photo by Phillip MacCallum/Getty Images)

NHL Compliance Buyouts

June 27, 2013

Each team is allowed two compliance buyouts under the terms agreed to in the new CBA.

The conditions of the buyouts are as follows: The player's cap hit is removed but the team must pay two-thirds of the total amount owed over twice the length of the remaining years left on the contract. The buyout period runs from June 26 and closes at 5 p.m. on July 4.

Once bought out the player becomes an unrestricted free agent and can sign with any team except the one that just released them.