THE NHL'S PROPOSAL 1. A 50-50 split in revenues.

2. NHL says no "salary rollback." Instead, sources say, initial 12 percent pay cuts would be deferred and reimbursed to players over course of their contracts.

3. Transition rules would insure cap-ceiling teams such as the Wild don't have to shed players.

4. Players become unrestricted free agents at 28 years old or eight years of service.

5. Contracts can be a maximum of five years.

6. Three-year entry-level contracts and salary arbitration stay pat.

7. If an NHL player on a high-priced, one-way contract is sent to the AHL, his contract counts toward the cap.