Every year, Major League Baseball holds two player drafts but the Rule 5 Draft is less understood.

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(KSDK Sports) -- Every year, Major League Baseball holds two player drafts. Most fans are familiar with and have a basic understanding of the First-Year Player Draft, which occurs each June and deals with amateur players in the United States and Puerto Rico. But the Rule 5 Draft, which takes place in December and concerns professional players, is less understood.

A team that selects a player in the Rule 5 Draft pays $50,000 to the team from which he was selected. The receiving team must then keep the player on the Major League 25-man roster for the entirety of the next season, and the selected player must remain active (not on the disabled list) for a minimum of 90 days. If the player does not remain on the Major League roster, he is offered back to the team from which he was selected for $25,000. If his original team declines, the receiving team may waive the player.

The Rule V draft is underway this morning. Here are how the Cardinals have been affected so far.

INF Jake Lemmerman was selected by the San Diego Padres off the Springfield roster in the Triple-A phase of the Rule 5 Draft.

RHP Kevin Thomas was selected off the Springfield roster by the Minnesota Twins in the Triple-A phase of the Rule 5 Draft.

Cardinals select SS Greg Miclat off the Frisco roster of the Texas Rangers in the Triple-A phase of the Rule 5 Draft.

Cardinals select 3B Jesus Ustariz off the Detroit Tigers Erie roster in the 2nd round of the Triple-A Rule 5 Draft.

More as new information becomes available.

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