While we generally have a good handle on the free agent class of 2012, the list is still not complete because quite a few players have options on their contracts for 2012-13. Whether or not these options – Team, Early Termination or Player – are invoked or declined could have a big impact on what teams have to spend in free agency come July. Or possibly what they need to replace.

All options must be decided upon by June 30^th though contracts can stipulate earlier dates.

TEAM OPTIONS

With a Team Option, the player has no say in the outcome. If the team invokes the option, the player is under contract for another year. If the team does not invoke the option (meaning they do nothing), the player becomes an unrestricted free agent.

Chase Budinger, Houston Rockets – $885,120

Sixth on the team in scoring last season at 9.6 points a game, Budinger also hit 40 percent of his three-pointers. Whether or not he plays a ton of minutes – 22.4 a game last season – that price is still a steal.

Pick it Up? Yes

Andrew Bynum, Los Angeles Lakers – $16,100,000

Named an All-Star last season, Bynum posted career-highs in scoring, rebounds and minutes. $16.1 million is a lot of money, but it takes a lot of money to keep All-Star centers who are only 24 years old (yes, you read that right).

Pick It Up? Yes

Solomon Alabi, Toronto Raptors – $885,120

In two seasons Alabi has played 26 NBA games and scored a total of 39 points. It’s likely he could be replaced by a rookie capable of doing the exact same things for $400k less.

Pick It Up? No

Jamaal Tinsley, Utah Jazz – $1,352,181

Tinsley had a few solid games off the bench for the Jazz and posted an assist/turnover ratio of 2.36/1, which is just fine for a reserve point guard.

Pick It Up? Yes

EARLY TERMINATION OPTIONS

With an Early Termination Option the player is in control. The difference between this and a Player Option (below) is what happens when nothing is done by the player. With an ETO if the player chooses do nothing they are under contract for the upcoming season. If the player wants to become a free agent, they must invoke the option and choose free agency.

Matt Carroll, Charlotte Bobcats – $3,500,000

There isn’t much to discuss here. On the open market Carroll is probably a minimum salary player.

Invoke ETO? No

Elton Brand, Philadelphia 76ers – $18,160,355

Brandon is still a very solid option as a power forward, but he is not the same player who signed this original contract. If he invoked the ETO, he would be hard-pressed to earn this much money in two seasons. There is talk Philly may amnesty him if he doesn’t invoke the ETO and there is also talk of him invoking the ETO and working out a new contract with Philly. The decision here assumes no other discussions.

Invoke ETO? No

Louis Williams, Philadelphia 76ers – $5,351,500

Williams is going to invoke his ETO. He was a key member of Philly’s success this year, posting career-highs in scoring and three-point shooting. At minimum, he is a MLE ($5 million to begin) player on the open market, but a new deal now assures him more stability.

Invoke ETO? Yes

PLAYER OPTIONS

With a Player Option, the player must make a decision. If they do nothing, they become a free agent. If they are satisfied with their role and what their 2012-13 salary will be, they must invoke the option in order to lock in the money. (The Milwaukee Bucks’ Beno Udrih is not on this list because he already invoked his Player Option for 2012-13.)

Brandon Bass, Boston Celtics – $4,250,000

After the trade from Orlando, Bass started 39 games for the Celtics and posted career-highs in scoring, rebounding, minutes, assists, steals and blocks. His presence is a big reason the Celtics are now in the Eastern Conference Finals. That said, $4.3 million is way under what his value will be on the open market.

Pick It Up? No

DeSagana Diop, Charlotte Bobcats – $7,372,200

Diop scored 31 points in 27 games in 2011-12, which were both actually improvements over his 2010-11 numbers. Not a lot to think about here.

Pick It Up? Yes

Jason Maxiell, Detroit Pistons – $5,000,000

Maxiell started 42 games for the Pistons this past season, posting decent numbers for the cost. If he were to decline his option and hit free agency, he’d probably find a three-year deal, but for less than $5.0 million. He could do the same thing in the summer of 2013, after picking up this option.

Pick It Up? Yes

Dahntay Jones, Indiana Pacers – $2,900,000

Jones had a very solid season off the bench for the Pacers, hitting 43 percent of his three-pointers and providing good defense in 16.2 minutes a game. That said, this salary won’t be on the table if he opts for free agency.

Pick It Up? Yes

Mo Williams, Los Angeles Clippers – $8,500,000

Williams likely will pick up the option. He wouldn’t get this much as an unrestricted free agent, but there is a chance a team could be willing to pay him starter’s money for three or four years. Unfortunately, he has to decide on the option before really knowing if that will happen.

Pick It Up? Yes

Ramon Sessions, Los Angeles Lakers – $4,551,626

A couple months ago Sessions becoming a free agent was a no-brainer, but his effectiveness was called into question at the end of the season and in the playoffs. In free agency, his value may not be as high as it was, but he could pick up a few more years of guaranteed money.

Pick It Up? No

Deron Williams, New Jersey Nets – $17,779,458

Williams becoming a free agent is a foregone conclusion. He won’t invoke the option, become a free agent and sign a new max deal.

Pick It Up? No

Gerald Wallace, New Jersey Nets – $9,500,000

Wallace is still a very valuable player who contributes on both ends of the floor. In free agency, he wouldn’t see $9.5 million (probably), but by becoming a free agent he could get four more years of guaranteed money. For a player who has managed more than 72 games just once in his NBA career, that’s hard to pass up.

Pick It Up? No

Jordan Farmar, New Jersey Nets – $4,250,000

With injuries to Williams last season, Farmar stepped in and was very productive, posting career-highs in scoring and all shooting percentages. He may be worth MLE money on the open market or he may not, but Farmar will assuredly find another long-term deal.

Pick It Up? No

J.R. Smith, New York Knicks – $2,612,500

After his return from China at midseason, Smith posted numbers consistent with his career averages. He also drove a lot of people mad with his shot selection and decision making, consistent with the rest of his career in Denver and New Orleans. His talent is worth more than $2.6 million, but there is a real risk teams may not be willing to pay for the baggage. At minimum, he could add more years to the same dollar amount.

Pick It Up? No

Jameer Nelson, Orlando Magic – $7,800,000

Nelson was right around his career averages in 2011-12, except for his field-goal percentage which has dropped in each of the last three seasons. On the open market, he probably wouldn’t find a contract worth this much, but he could sign long-term. Considering he has played 70 or more games just three times in eight season, that might be a good idea.

Pick It Up? No

Earl Clark, Orlando Magic – $1,240,000

If Clark were to choose free agency, he would likely only be worth a minimum salary offer of $885,120 after averaging 2.7 points and 2.8 rebounds a game.

Pick It Up? Yes

Jamal Crawford, Portland Trail Blazers – $5,225,000

The plan all along was Crawford wouldn’t be picking up this option if things didn’t work out in Portland, which they did not. Crawford has been telling anyone who will listen on Twitter that he is a free agent this summer. He’ll likely see MLE-type money in free agency again.

Pick It Up? No

Shawne Williams, Portland Trail Blazers – $3,135,000

Williams was out of the NBA for an entire year before catching back on with the New York Knicks in 2010-11 for a minimum salary. There he posted the best numbers of his career and parlayed that into a two-year deal with New Jersey worth $6.1 million. He played 25 games with Jersey and shot only 29 percent from the field before suffering a season-ending injury. In free agency, he may only get minimum offers.

Pick It Up? Yes

What’s your recommendations? Leave them in the comments below! Follow Jason Fleming on Twitter @jfleminghoops and hit up his chat Monday at 8pm Eastern.