a sign-and-trade deal — whrein the incoming salaries don’t equal more than 125% + 100,000 of the outgoing salaries — by re-signing Shawn Marion and shipping him off to Dallas.

http://sports.espn.go.com/nba/news/story?id=4314637

As a result, the Raptors maintained its mid-level exception, bi-annual exception, Bird rights on Carlos Delfino, et cetera.

Regarding Jarrett Jack and the Toronto Raptors, a four-year, $20,606,080 offer sheet with a 17.5% signing bonus and annual salary decreases of 8% would look like the following.

Signing Bonus: $3,606,064
2009-2010: $4,952,484 (Cap Hit: $5,854,000)
2010-2011: $4,484,164 (Cap Hit: $5,385,680)
2011-2012: $4,015,844 (Cap Hit: $4,917,360)
2012-2013: $3,547,524 (Cap Hit: $4,449,040)

http://www.blazersedge.com/2009/7/11/946214/jarrett-jack-receives-offer-sheet#18116611

As it stands, the Raptors have used its mid-level exception to sign Jack to an offer sheet — which will probably go unmatched by the Indiana Pacers — and, subsequently thereafter, will target Linas Kleiza with its bi-annual exception or through a sign-and-trade deal with Denver.

Here, by the way, is a theoretical example of a sign-and-trade deal wherein Kleiza goes from Denver to Toronto.

Step #1: The Nuggets re-sign Kleiza to a three-year, $12,000,000 contract with non-escalating annual salaries of $4,000,000 per season.

FROM DENVER & TO TORONTO
Linas Klezia ($4,000,000) [Base-Year Compensation Player]
Steven Hunter ($3,696,000)

Outgoing Salaries: $5,696,000 X 125% +100,000 = $7,220,000
Incoming Salaries: $6,264,171

FROM TORONTO & TO DENVER
PG Marcus Banks ($4,553,793)
C Patrick O’Bryant ($855,189)
SG Quincy Douby ($855,189)
Cash Considerations ($3,000,000)

Outgoing Salaries: $6,264,171 X 125% +100,000 = $7,930,213
Incoming Salaries: $7,696,000

Quincy Douby, who has a non-guaranteed contract, would probably be waived by the Denver Nuggets, since it wouldn’t surprise me to see George Karl’s kid (i.e., Coby Karl) get a shot to make the team as the third-string shooting guard behind sharp-shooting sixth man J.R. Smith and whoever is signed to replace Dahntay Jones as the team’s starting defensive stopper on the wing (e.g., Ime Udoka).