For all tenders, the original team retains right of first refusal to match the offer or receives various levels of compensation (selections in this year's NFL draft). Here is the tender amount and compensation required this offseason:
$927,000 (minimum tender)
Compensation: Round drafted (or simply right of first refusal if player was undrafted).
Compensation: Second Round pick
Compensation: First Round Pick
Compensation: First and Third Round Pick
Neither Morency nor Cole are expected to receive anything but the minimum tender. Both were backups last season at their respective positions. There is somewhat of a risk with giving Cole a low tender because he entered the league with Minnesota as a non-drafted free agent. Therefore, if Cole, after receiving a qualifying offer from the Packers, signs an offer sheet from another team and the Packers refuse to match, Green Bay would get no draft picks in return.
If a player does not receive an offer sheet from his original team, he becomes an unrestricted free agent.
In 2007, the first and third round tender was $2.35 million. The first round tender was $1.85 million; second round tender $1.3 million; and low tender, $850,000.