1. A minor league player who was 18 or younger on the June 5th immediately prior to signing his first contract is eligible for selection starting with the 5th Rule 5 Draft after he signs, and a minor league player who was 19 years or older on the June 5th immediately prior to signing his first contract becomes eligible for selection starting with the 4th Rule 5 Draft that followed his signing.

2. If a player signs his first contract after the conclusion of the season of the MLB or minor league club to which he is first assigned, the next season is considered to be the player's "first season" for Rule 5 eligibility purposes.

3. Any free-agent with prior MLB and/or minor league service who signs a minor league contract prior to the Rule 5 Draft is eligible for selection, as long as the player was 18 or younger on the June 5th immediately prior to signing his first contract and it is at least the 5th Rule 5 Draft since he signed his first contract, or the player was 19 years or older on the June 5th immediately prior to signing his first contract and it is at least the 4th Rule 5 Draft since he signed his first contract. 

4. Any player on a minor league reserve list who has either been released or had his contract voided and then re-signs with the same MLB organization within one year is eligible for selection.

5. Any player on a minor league reserve list who has been outrighted to the minors previously in his career is eligible for selection.

6. A player on the Voluntary Retired List, Disqualified List, or Ineligible List is not eligible for selection in the Rule 5 Draft, but a player on the Restricted List or the Military List is eligible for selection.

7. An MLB club can designate any player on a minor league reserve list "eligible for selection" in the Rule 5 Draft even if the player would not normally be eligible, but once a player is made eligible for selection, he remains eligible for selection in all subsequent Rule 5 drafts. However, a player who was signed after being selected in the First-Year Player Draft (MLB Rule 4 Draft) cannot be designated "eligible for selection" in a Rule 5 Draft until after the first anniversary of the player signing his first contract with an MLB organization.

8. A minor league player-manager who would be eligible for selection in the Rule 5 Draft if he was only a player can be selected, but if he is selected, the player-manager can reject the selection. He has 30 days to decide. If he rejects the selection, the player-manager cannot be re-signed as a player during the following season.  

CUBS ELIGIBLE FOR MLB RULE 5 DRAFT POST-2013 (last updated 3-30-2013):
Hunter Ackerman, LHP
Arismendy Alcantara, INF
Gioskae Amaya, INF
Jose Arias, RHP
Frank Batista, RHP
Xavier Batista, OF
Dallas Beeler, RHP
Justin Bour, 1B
Sergio Burruel, C
David Cales, RHP
Esmailin Caridad, RHP
Marcelo Carreno, RHP
Lendy Castillo, RHP
Javier Castro, RHP
Zach Cates, RHP
Hunter Cervenka, LHP
Pin-Chieh Chen, OF
Casey Coleman, RHP
Gerardo Concepcion, LHP
Willson Contreras, C
Wes Darvill, INF
Antonio Encarnacion, RHP
Luis Flores, C
Anthony Giansanti, OF
Enyel Gonzalez, RHP
Carlos Gutierrez, RHP
Jae-Hoon Ha, OF
Eric Jokisch, LHP
Dong-Yub Kim, OF
Austin Kirk, LHP
Luis Liria, RHP
Matt Loosen, RHP
Jeff Lorick, LHP
Eric Martinez, RHP
A. J. Morris, RHP
Chad Noble, C
Juan Carlos Paniagua, RHP (see NOTE)
Loiger Padron, RHP
Amaury Paulino, RHP
Felix Pena, RHP
Starling Peralta, RHP
Dae-Eun Rhee, RHP
Kevin Rhoderick, RHP
Greg Rohan, INF
Jose Rosario, RHP
Zac Rosscup, LHP
Victor Salazar, RHP
Brian Schlitter, RHP
Ryan Searle, RHP
Elliot Soto, INF,
Nick Struck, RHP
Luis Villalba, LHP
Yao-Lin Wang, RHP
Oliver Zapata, OF
NOTE: Juan Carlos Paniagua signed his first contract with the Arizona Diamondbacks as "Juan Callado" on 5-8-2009 and pitched for the DSL Diamondbacks in the Dominican Summer League in 2009-10, but the contract was "pending" for almost two years and was never officially approved by MLB. The contract was eventually rejected by MLB due to "fraudulent paperwork" and Paniagua (Callado) was suspended for one year and then was declared a free-agent. He signed with the New York Yankees in March 2011 but then was suspended again and that contract was rejected, too, because his birth certificate could not be verified. Paniagua was cleared by MLB in 2012 and he signed with the Cubs on 7-9-2012. Therefore, Paniagua could be eligible for selection in the Rule 5 Draft for the first time in December 2013, since 2009 was his "first season" on the field, and he was 18 on the June 5th immediately preceding the signing of his first contract, or he might not be eligible for selection in the Rule 5 Draft for the first time until December 2015 if 2012 is considered Paniagua's "first season" for Rule 5 eligibility purposes.

1. A club must have as many slots open on its MLB Reserve List (40-man roster) prior to the Rule 5 Draft as the number of players it selects in the Major League Phase, and an MLB club's AAA and AA affiliates must have as many slots open on their respective reserve lists prior to the Rule 5 Draft as the number of players selected in the AAA and AA phases of the draft. There is no limit on the number of Rule 5 eligible players any one organization can lose.

2. A player selected in the Major League Phase of the Rule 5 Draft must be placed on the drafting club's MLB Reserve List (40-man roster) immediately, and must be tendered a major league contract by 5 PM (Eastern) on the day of the draft.

3. A player selected in the Major League Phase of the Rule 5 Draft can be traded at any time, but the player cannot be released or sent to the minors any earlier than 20 days prior to MLB Opening Day, and then only if Outright Assignment Waivers have been secured and the player's former club declines to re-claim the player. 

4. If a player selected in the Major League Phase of the Rule 5 Draft remains on an MLB Active List and/or MLB Disabled List(s) for the entire MLB regular season following selection and spends at least 90 days on an MLB Active List (25-man roster), Rule 5 restrictions are removed at the conclusion of the season. (If time spent on an MLB Active List is less than 90 days in the season following selection, the player remains a Rule 5 player into the next season, and the player continues to be a Rule 5 player until he has spent 90 days total on an MLB Active List).

5. If a club decides not to keep a player selected in the Major League Phase of the Rule 5 draft on its MLB 25-man Active List (and/or MLB DL), the player must be placed on Outright Assignment Waivers, where any of the other 29 MLB clubs can claim the player for the $25,000 Rule 5 waiver price and assume the Rule 5 obligations.

6. If the Rule 5 player is not claimed off Outright Waivers, the player then must be offered back to the minor league club from which he was drafted, and the player's former club can reclaim the player for $25,000, with the player being automatically outrighted to the Reserve List of the minor league club from which he was drafted. The club from which the player was drafted usually has 72 hours to decide whether to reclaim the player, but it has only 24 hours to decide if the player is eligible to be an Article XX-D Free-Agent if outrighted to the minors (player has at least three years of MLB Service Time and/or player has been outrighted previously in his career).

7. If a Rule 5 player is returned (outrighted) to the minor league club from which he was drafted, the drafting club is responsible for any portion of the player's salary above what the player was paid the previous season.

8. If a Rule 5 Player is returned (outrighted) to the minor league club from which he was drafted, and if the player has at least three years of MLB Service Time and/or has been outrighted previously in his career, the player can elect to be an MLB Article XX-D minor league free-agent after being outrighted (he has three days to decide), or he can accept the Outright Assignment and defer the right to be a minor league free-agent until after the conclusion of the MLB regular season. (The player is not eligible to be an Article XX-D minor league free-agent after the conclusion of the MLB regular season if he accepts the Outright Assignment and is subsequently added back to an MLB Reserve List prior to the conclusion of the MLB regular season).

9. If the minor league club from which the player was drafted declines to reclaim the player, the Rule 5 restrictions are removed, the drafting club retains the player, and the player can be sent to the minors or released.

10. A player selected in the AAA or AA Phase of the Rule 5 Draft must be assigned to the Reserve List of the AAA or AA club that drafted the player, but the player can be assigned to the Active List of any minor league affiliate in the MLB club's organization once the minor league regular season commences. Also, unlike players selected in the Major League Phase of the Rule 5 Draft, a player selected in the AAA or AA Phase of the Rule 5 Draft does not have to be offered back to the club from which he was drafted if the player is ultimately assigned to the Active List of a minor league affiliate below the level of the minor league affiliate that drafted the player.

11. A club can select a player off the reserve list of one of its own minor league affiliates, but if the player is selected in the Major League Phase, the club is bound by the same Rule 5 roster restrictions as if it had selected the player off the reserve list of another club's minor league affiliate. 

12. A player eligible for selection in the Rule 5 Draft cannot be "covered up" from selection, either by agreement between two clubs or by effect. If the MLB Commissioner believes a club "covered up" a player to avoid losing the player in the Rule Draft, the offending club or clubs are subject to a fine.       

A "Draft-Excluded Player" is any minor league player eligible for selection in the Rule 5 Draft whose contract is selected and who is added to an MLB Reserve List (40-man roster) between August 15th and the Rule 5 Draft.

While a "Draft-Excluded Player" can be non-tendered on 12/2 and released or traded at any time, he cannot be sent to the minors by Optional Assignment beginning with the conclusion of the MLB regular season up until 20 days prior to MLB Opening Day, and a Draft-Excluded Player can be outrighted to the minors prior to the Rule 5 Draft only if Outright Assignment Waivers are requested no later than the 4th day following the conclusion of the World Series.

If Outright Assignment Waivers are not requested by the 4th day following the conclusion of the World Series, Outright Assignment Waivers cannot be requested until 25 days prior to MLB Opening Day, and the player cannot be sent outright to the minors any earlier than 20 days prior to MLB Opening Day.