White Sox offer Buehrle salary arbitration - but decline on Pierre

[Fenway]

http://chicago.whitesox.mlb.com/news/article.jsp?ymd=20111123&content_id=26034998&vkey=news_cws&c_id=cws


Around MLB

http://espn.go.com/mlb/story/_/id/7274620/albert-pujols-prince-fielder-jose-reyes-big-names-offered-arbitration

[Moses_Scurry]

I'm a little confused on the new rules. Do we not get any picks for Buehrle now, or does that not happen until next year? Or do we only get a pick if somebody offers 12 million or more a year for him?

Can somebody smarter than me explain the new rules?

Here is how I understand it:

No players are type anything, they are all equal in that regard. If player A is to be a free agent, then the team decides to offer arbitration or not. If player A declines arbitration, then in order for the team to get a pick, player A must be signed for at least 12 million a year by a new team.

Is this right?