Article XX-B MLB Free-Agency
Per Article XX-B of the CBA, any player on an MLB Reserve List who has accrued at least six years of MLB Service Time and who is not signed for the following season automatically becomes a free-agent at 9 AM (Eastern) on the first day after the conclusion of the World Series. The player's former club retains exclusive negotiating rights with the player up until midnight (Eastern) on the 5th day after the after the conclusion of the World Series, after-which the player is free to sign a Major League contract (or minor league contract) with any club, including with the player's former club.
Also, any international player who was at least 23 years old and who had played all or parts of at least five seasons in a recognized foreign "major" league (NPB, KBO, Serie Nacional, et al) prior to signing his first contract with an MLB club becomes an Article XX-B FA when the player's contract expires.
CUBS ARTICLE XX-B MLB FREE-AGENTS POST-2014 (last updated 8-13-2014):
Kyuji Fujikawa, RHP (club option)
Carlos Villanueva, RHP
Tsuyoshi Wada, LHP (club option)
An Article XX-B MLB free-agent who signs a Major League contract after 11:59 PM (Eastern) on the 5th day following the conclusion of the World Series receives automatic "no trade" rights that extend through June 15th of the following season, even if the player re-signs with his former club. An Article XX-B MLB Free-Agent who receives "no trade" rights this way can waive the right, but if he does, his club can trade the player only for player contracts and/or cash with a maximum aggregate value of $50,000. Note that a player who signs a Major League contract after becoming a free-agent by any other means (Outright Release, Non-Tendered, or Article XX-D or MLB Rule 55 minor league free-agent) does NOT receive automatic "no trade" rights through June 15th.
If an Article XX-B MLB free-agent signs a minor league contract at least ten days prior to MLB Opening Day, and then is either not released by 12 PM (Eastern) on the 5th day prior to MLB Opening Day or added to an MLB Active List (25-man roster) or MLB Disabled List by 3 PM (Eastern) on MLB Opening Day, the player automatically receives a $100,000 retention bonus, and the player can unilaterally opt-out of the minor league contract on June 1st if he has not been added to an MLB Active List (25-man roster) or an MLB Disabled List by that date.
CUBS ARTICLE XX-B MINOR LEAGUE PLAYERS SPRING TRAINING 2015: (last updated 3-30-2014)