Currently we have straight contract of 1 - 5 years for MLB, this would introduce the ability to give a Player option on a FA contract.
Contract Opt-out
The General Manager may offer an opt-out in any contract at any time when a player is signed. The opt-out is only triggered if the player finishes the option year in the 95% percentile of their FA class. Player's who opt out are eligible for an extension.
Example:
signed SP Anthony DeSclafani to a 3 yr / $19,069,000 contract with an opt out after the second year. If at the end of the second year DeSclafani finishes in the 95% percentile or better, using the same formula we use for extensions then he automatically opts out of the remainder of his contract.