Under the latest collective bargaining agreement, teams are allowed to exercise fifth-year options in the standard four-year contract of their first-round picks. They have to make a decision to pick up that option prior to said player's fourth year in the league, which means teams had to choose whether they're keeping around players taken in the first round back in 2013.
The fifth-year option is a guaranteed contract that is determined based on where in the first round a player was picked and some of the average salaries for the highest-paid players at his position. Teams are still able to sign their rookies to long-term contracts and don't need to rely on the option to retain them, but the tool is there to be used if necessary.
Teams had until May 2 to pick up the fifth-year option on 2013 first-round picks. There are some interesting players who went in the first round, from someone like Sheldon Richardson of the New York Jets -- who has a ton of value to the Jets -- to someone like Cordarrelle Patterson, who didn't get his option picked up.
Below, we've got a full list of players who had their option picked up, those who did not and those who were ineligible.
Option Exercised
C Travis Frederick, Dallas Cowboys
The Cowboys announced they have picked up the option on Frederick. Frederick has been and is one of the best offensive linemen in the league and certainly the best center. His selection was something the Cowboys drew plenty of criticism for, but it's paid off time and time again. He'll be getting a large contract extension at some point.
OL Justin Pugh, New York Giants
The Giants decided to move forward and pick up the fifth-year option on offensive lineman Justin Pugh. The No. 19 pick in the 2013 draft will be with the team through 2017, and could be worth just shy of $9 million. Pugh is expected to start at left guard in 2016 and will be key in boosting a young offensive line.
S Kenny Vaccaro, New Orleans Saints
The Saints made Vaccaro the first player from the 2013 class given the option on April 12. Vaccaro will be with the team through 2017 and it should be a nice payday for him, coming in just over $5.5 million. Given his rookie deal was for $9.4 million over four years, Vaccaro should be pleased. The 15th overall pick of the 2013 draft, Vaccaro is a leader on defense and played well last season, recovering from a benching in 2014.
TE Tyler Eifert, Cincinnati Bengals
After sitting out all but one game in the 2014 season, Eifert came back strong last season. He played in 13 games for the Bengals and caught 52 passes for 615 yards and 13 touchdowns. He was a big weapon in the end zone and the Bengals obviously believe he can develop into a top-tier tight end.
DT Star Lotulelei, Carolina Panthers
Now official, Panthers general manager Dave Gettleman said in March that he would exercise the fifth-year option on Lotulelei. The 14th pick in the first round, Lotulelei has been a consistent performer for the Panthers since they brought him in. He has 89 tackles, six sacks, a forced fumble and a fumble recovery in 44 games played, missing two games in each of his last two seasons.
OL Kyle Long, Chicago Bears
The Bears announced Long's option being picked up on April 15. Long was the No. 20 overall pick in the draft and has been great since joining the team. Many were disappointed when the Bears selected him, but he made it to two Pro Bowls at right guard before being moved to right tackle last season, where he made the Pro Bowl again. Now he's moving back to guard, but his high level of play thus far made his option being picked up a no-brainer.
WR DeAndre Hopkins, Houston Texans
The Texans exercised Hopkins' option not long after the Bears decided to hang onto Long for another year. Hopkins will make just under $8 million, though they can still sign him to a long-term extension. Hopkins is one of the best receivers in the league and the Texans are hoping he'll pair well with free agent signing Brock Osweiler.
DE Sheldon Richardson, New York Jets
The Jets exercised the fifth-year option for the talented defensive lineman, keeping him around alongside Leonard Williams. Getting Richardson extended to a long-term deal is a likely goal, but for now the Jets are set to pay Richardson around $8 million next season.
CB Desmond Trufant, Atlanta Falcons
Atlanta was adamant that they would not pursue Josh Norman on the free agent market, but took care of some housekeeping by locking down Trufant through the 2017 season. Trufant was taken with the 22nd pick in 2013 and will make just over $8 million with this option. He made the Pro Bowl for the first time last season.
OG D.J. Fluker, San Diego Chargers
San Diego exercised Fluker's option on April 22, according to Albert Breer of the NFL Network. Fluker was drafted as a tackle and played well playing at the right tackle spot as a rookie. But he eventually made the shift to guard and there he's become one of the top players in the league. It was an obvious move to exercise his option, though the Chargers will likely try and get him signed to a long-term extension.
FS Eric Reid, San Francisco 49ers
The young safety has had some concussion issues in his short career, and he looked tentative playing last season. But as the season progressed his level of play picked up and the 49ers once again looked like they had one of the top safety pairings in the league. The 49ers are keeping him around, a good sign given the likelihood that Jaquiski Tartt takes over the other starting spot, giving them a strong core of young safeties to anchor the defense.
DT Sharrif Floyd and CB Xavier Rhodes, Minnesota Vikings
Both Rhodes and Floyd got the option from the Vikings. Rhodes hasn't been a huge success for the Vikings, but the young cornerback still has potential and the position is still one of need. Giving him another year, even at an increased dollar amount, is just smart for a team that can't afford any holes in the secondary. Floyd has been excellent since the Vikings drafted him and will be looking for a big extension in the near future.
DE Ezekiel Ansah, Detroit Lions
Ansah has tallied 30 sacks in his first three seasons in the league and is more than worth the $12.7 million he'll earn under the fifth-year option for 2017. He's an integral piece of the puzzle for the Lions and this option is only a formality. The team would like to get him signed to an extension to keep him around for even longer.
OT Eric Fisher, Kansas City Chiefs
Fisher hasn't been a great tackle, but after a rough start to his career, he has been improving. There is still a chance he develops into a top-tier left tackle, and that chance is more than enough for the Chiefs to exercise his option, especially after 2015 was his strongest season yet.
WR Tavon Austin, Los Angeles Rams
Austin hasn't been the most productive receiver, but the Rams have decided to pick up his fifth-year option. He had just 473 receiving yards in 2015, but he added 434 rushing yards, and he has value as a return specialist, also. The Rams will pay Austin over $12 million after picking up the option. They may be more confident in what Austin has to offer when Jared Goff is throwing him the ball instead of Nick Foles or Case Keenum.
LB Alec Ogletree, Los Angeles Rams
Injury concerns might have been the only thing that would have kept Los Angeles from picking up the option on Ogletree. Ogletree missed 12 games last season with an ankle injury, but that apparently didn't scare the Rams. Los Angeles picked up Ogletree's option Monday. After losing middle linebacker James Laurinaitis, keeping Ogletree around to take over in the middle makes sense, and he'll earn just under $8.4 million with the option.
Option Declined
S Matt Elam, Baltimore Ravens
The Ravens will not pick up the option on safety Matt Elam, whose up-and-down career is likely the reason. Elam was the last pick in the first round of the 2013 draft, and the option would have cost Baltimore $5.5 million in 2017. Elam has 127 tackles, one interception and a forced fumble over two seasons. Elam missed the entirety of the 2015 season with a torn bicep.
CB D.J. Hayden, Oakland Raiders
The Raiders selected Hayden with the 12th overall pick in the 2013 NFL Draft, and he's never really lived up to the expectations associated with that pick. After benching Hayden at different times during the 2015 season and reports of the coaching staff criticizing him for not practicing hard, the Raiders were not expected to pick up Hayden's option. That decision was confirmed Monday.
LT Luke Joeckel, Jacksonville Jaguars
On the heels of the Jaguars' decision to sign former Pittsburgh Steelers tackle Kelvin Beachum in free agency, Jacksonville has decided to not pick up the fifth-year option on left tackle Luke Joeckel's contract. Joeckel was the second overall pick in the 2013 draft, and he is the highest pick from his draft class to not have his option picked up.
CB Dee Milliner, New York Jets
After missing 27 of 48 games due to injury over the course of his four-year career, Dee Milliner will not have his option picked up by the New York Jets. The salary for Milliner's fifth year would have been $11.9 million and guaranteed for injury, which would have been a big risk for the Jets.
LB Barkevious Mingo, Cleveland Browns
Mingo finished the 2015 season with 24 tackles, no sacks and one interception, and picking up the option would have put Cleveland on the hook for just under $12 million for the fifth year, which would be fully guaranteed if Mingo were on the Browns' roster at the start of that league year in March. That's a lot of money to commit to a player who isn't contributing enough to justify it. Instead, the 2016 season will be an opportunity for Mingo to prove himself to the new coaching staff in Cleveland.
WR Cordarrelle Patterson, Minnesota Vikings
After the Vikings selected wide receiver Laquon Treadwell in the first round of the 2016 draft, and considering how little Patterson contributed to Minnesota's offense last season, this one isn't terribly surprising. Patterson had just 10 receiving yards last seasaon, and though he has been decent on punt and kick returns, the Vikings would have to pay him nearly $8 million if they picked up his option. That's a lot for a return specialist.
G Chance Warmack, Tennessee Titans
The Titans declined the option on Warmack, who hasn't been as consistent as one would expect from a tenth-overall pick. Picking up the option on Warmack would have guaranteed his salary of $11.9 million, which is significant considering that Warmack has been serviceable, but not dominant.
DT Sylvester Williams, Denver Broncos
The Broncos declined to pick up the option on nose tackle Sylvester Williams, who played fewer than 50% of Denver's defensive snaps last season. His salary under the option would have been $6.75 million. Williams isn't a bad player, but considering his role in the defense, the Broncos weren't sure his contributions warranted that kind of cap hit.
DE Datone Jones, Green Bay Packers
Jones hasn't lived up to expectations and it's not surprising to see the Packers pass on the option. Jones is switching from defensive end to the "elephant" linebacker position, taking the place of Julius Peppers. He could rise to a much greater role in Green Bay's defense this coming season. The team declined the option on Monday.
OG Jonathan Cooper, New England Patriots
The Patriots traded for Cooper with the Cardinals and have yet to see Cooper take the field for them. Using the option was too risky in at this stage and the Patriots declined the option on Monday. Cooper has been an above average stater over the years but hasn't quite blossomed into a top tier interior lineman. The Patriots are hoping that will change, but couldn't take the risk at this point.
QB EJ Manuel, Buffalo Bills
This one was essentially a no-brainer. The Bills have Tyrod Taylor at quarterback and just drafted Cardale Jones in the NFL Draft. Manuel did not work out as a starter so 2016 will be his contract year, alongside Taylor, who wants a big contract extension. Manuel may not be with the Bills for much longer.
OLB Jarvis Jones, Pittsburgh Steelers
The Steelers picked up options on Cameron Heyward and David DeCastro the past two seasons, but did not exercise the option for Jones. He has been underwhelming since the Steelers threw him into a starting role as a rookie. He has just a handful of sacks in his short time in the league and smart money is on him being a popular "change of scenery" candidate when he hits the open market next offseason.
Ineligible
OT Lane Johnson, Philadelphia Eagles (extended)
DE Bjoern Werner, Indianapolis Colts (released)
DE Dion Jordan, Miami Dolphins (suspended)