Here's what I wrote in an earlier thread regarding this topic:
"Anyhow, it’ll be interesting to see what kind of contract Pendergraph receives from the Trail Blazers. As it is, anything beyond a two-year, minimum-level contract — which’d be worth a total of $1,219,783 (2009-2010: $457,588 & 2010-2011: $762,195) — would dip into either cap space or the mid-level exception.
After viewing contracts of a few high-end second-round draft picks signed the past couple of years, it seems fair to dip into either cap space or the mid-level exception to give Pendergraph an appropriate contract. As a result, a three-year, $2,470,500 contract (2009-2010: $762,500; 2010-2011: $823,500; 2011-2012: $884,500) — which includes maximum annual raises of 8% and the third season non-guaranteed if he’s waived before 7/1/2011 — is what I’d offer him."
Depending on what the Portland Trail Blazers front office decides to do within the upcoming week and the week thereafter during the July moratorium, the organization will either have a modicum of cap space or a slew of exceptions -- which include the mid-level, the bi-annual, a couple of trade exceptions, and perhaps the Bird rights of Raef LaFrentz that'd bring with it a whopping $19,083,750 cap hold (i.e., 150% of his salary this past season) -- and, in all likelihood, Jeff Pendergraph's contract will dip into those funds.
As is common practice in the NBA today, most high-end second-round picks demand more than the maximum that's allowed without reaching into excess funds -- which, for this upcoming fiscal year, would be two-year, minimum-level contract worth a total of $1,219,783 (2009-2010: $457,588 & 2010-2011: $762,195) -- thus, it'll be interesting to see what kind of deal is agreed to between the franchise and Pendergraph.
As far as I'm concerned, Pendergraph deserves a deal approximate to two guaranteed seasons and team options for the final two seasons -- which is what first-round picks are granted -- at a cost that's worth slightly less than the rookie scale amount for the 30th pick this season (i.e., $824,200); ergo, that's how I came up with my above proposal.
Yet, rather than two separate team options for the third and fourth seasons on the contract similar to first-round picks, I trimmed it down to a three-year contract -- which makes sense since second-round picks are restricted free-agents after the third completed season, but unrestricted free-agents after the fourth competed season -- as well as made the final year of the contract a non-guaranteed salary if waived prior to a certain date (i.e., 7/1/2011) instead of a team option for flexibility purposes.
All things considered, a three-year, $2,470,500 contract (2009-2010: $762,500; 2010-2011: $823,500; 2011-2012: $884,500) -- which includes maximum annual raises of 8% and the third season non-guaranteed if he’s waived before 7/1/2011 -- for Pendergraph seems like a fair-market value deal to me.