Contracts for baseball players in the Major Leagues are regularly signed for millions of dollars in annual salaries and bonuses. These expensive baseball contracts are negotiated by agents who specialize in sports contract negotiations, and successful agents may be able to significantly raise the price of a player's contract. Other terms and requirements are often negotiated for in contracts for baseball players. Contracts may be guaranteed contracts, which means that the money paid to a player is guaranteed, regardless of what happens after the contract is signed. If a player is cut from a team early and has a guaranteed contract, that player may remain on the payroll and continue to collect a salary. In other cases, clauses in guaranteed contracts may allow teams to pay a player a lump sum fee in order to terminate a contract before it expires, Contracts that have expired may also be able to be extended or renegotiated to keep a player after a contract term ends.