Can you explain further? What are some of the basic keeper rules?
It just means that you can only 'keep' a player on your roster for 3 total seasons. They you have to throw him back into the free agent pool. You could still draft him again, but you'd have to bid like everybody else.
SO, We started 2 years ago. D-Rose was on your team in 10'-11' and 11'-12'.
If you keep him again for 12'-13', next year you have to put him back into the pool to be redrafted.