In the memo, a copy of which was obtained by SheridanHoops.com, union director Billy Hunter wrote: “Although the players made significant financial concessions, including taking a reduced share of Basketball Related Income, collective salaries will nonetheless increase over the course of the CBA, the players retained important system issues, and achieved gains on non-economic issues.

The document goes on to list the terms of the agreement. Among them:

_ An expected increase in annual collective salaries and benefits from the current $2.17 billion to more than $3 billion by the end of the 10-year agreement.

_ Neutral review of commissioner David Stern’s financial discipline for players’ on-court conduct.

_ A minimum of 16 days off for each player during a season (beginning in 2012-13).

via Chris Sheridan of Sheridan Hoops