Wednesday's NHLPA offer, broken down a little:

FIRST THREE YEARS OF PROPOSED AGREEMENT
Total payroll is fixed at $1.91 billion in Year 1; $1.98 billion in Year 2; and $2.1 billion in Year 3. Effectively, they are 2 percent, 4 percent and 6 percent raises.

FINAL TWO YEARS
If revenue doesn’t adequately grow: NHL option to extend two more years at a payroll of $2.1 billion
If revenue skyrockets: NHLPA option to extend two more years at $2.1 billion, plus 57 percent of new revenue only in years 4 and 5

If revenue falls in between, deal automatically extended two more years, as follows:
Year 4 = Year 3 share plus 54 percent of hockey-related revenue growth in Year 4
Year 5 = Year 4 share plus 54 percent of hockey-related revenue growth in Year 5

The players' offer fluctuates based on revenue growth.
Example: Based on historical revenue growth of 7.1 percent a year, the players' share would start at 54.3 percent in Year 1 and phase down to 52.3 percent in Year 5.