from Pierre LeBrun of ESPN,

An NHL team source provided highlights from the latest offer the NHL gave to the union on Thursday:

• Ten-Year Agreement (through 2021/22 season); Parties have mutual opt-out right after 8 years.

• 50-50 Revenue Split between Clubs and Players with current HRR Accounting.

• $300 million in “Make-Whole” payments (outside the system) to compensate Players for the reduced value of Player contracts in the early years of the new CBA.

• No contractual “roll backs” of Player Salaries.

• Clubs can operate with an effective Upper Limit of $70.2 million in 2012/13; must come into compliance with $60 million Upper Limit for the start of the 2013/14 season.

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