You can retain up to 50% cap hit on 2 or 3 contracts. The dollar amount is irrelevant.
It's actually up to 50% of 3 contracts at a time & the total dollar amount can't exceed 15%, or $10.35m this season, of the upper cap limit so overall dollar amounts are very much relevant.
Source: Section C on page 272 of the CBA http://www.nhl.com/n...PA_2013_CBA.pdf
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