Ok. Lets see if I can remember!
*You are allowed to keep up to 2 keepers. Those players must have been drafted by somebody the previous year. Any players that were not drafted can not be kept.
*The player will then be slotted in this years draft 2 rounds earlier than where the player was drafted last year. (Last year round 4 pick, this year your round 2 pick.)
*New to next seasons draft will be the introduction of the 3 year rule. No owner can keep any one particular player beyond 3 consecutive years.
Any questions or clarifications you are anyone else may have, please feel free to ask either here, the league site, or my email - firstname.lastname@example.org.