Mid Level Exception
Lower Level Exception
Every team that is over the cap, which will be around 53 million this year gets one. All but 5 teams (TOR, ATL, CHA, NOH and CHI who all have cap space) will have the MLE and the LLE can be used once every two years. So if a team used their LLE exception last year, they cant use it this year. Or at least thats the way it was in the last CBA.
MLE is worth about 5.1-5.4 million
LLE is worht about 1.6-1.8 million