Free Agency Question

Can some please explain to me what are the different types of free agents and what do they mean? Thank you.

Unrestricted free agents can sign with whomever they wish. Restricted free agents must sign an offer sheet, which their old team may match to keep them; if the offer isn't matched within fifteen days, they can officially sign with their new team.

For the different types of exceptions in free agency, you might want to check out this FAQ.

Thanks. what does Team Option, Player Option, and Early Term Option mean?

From the aforementioned FAQ:

Team Options give the team the right to invoke the option year. There can be only one option year (except in the case of rookie scale contracts), and the option year can't be for a lower salary than the previous season.

Player Options give the player the right to invoke the option year. There can be only one option year, and the option year can't be for a lower salary than the previous season.

Player Early Termination Options (ETO's) give the player the right to terminate the contract early. An ETO can't occur prior to the end of the fourth season of the contract (which implies that the contract must be for at least five seasons).