Found March 24, 2009 on Da Great White Hype:
The compensatory draft pick formula is real complicated, taking into account salary, playing time, and post-season honors of players lost in free agency. The Giants lost lost three players last year in FA and signed only LB Danny Clark and S Sammy Knight. Players the Giants signed like DE Reynaldo Wynn and QB David Carr didn't count against this formula, since they were signed after the cutoff date of June 1, 2008.

Basically what this all means is that the Giants now have five picks in the top 100 after being awarded the 100th pick overall via compensation. In total, the Giants now have ten picks in the 2009 NFL DRAFT--including the standard seven, the compensatory pick, and the two picks from the Saints (2nd and 5th round picks) from the Shockey trade last year.

Teams are not allowed to trade the compensation pick, but the Giants are sure to make some moves. GM Jerry Reese has been exceptional in his first two drafts, and will not need all ten to fill holes in the Giants roster. As mentioned on sites like ProFootballTalk, the Giants may be setting themselves up to make a big trade come draft day. (Info was used and kinda plagarized from NJ.com).
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