Rules Question about y2y.1 call ups

[Shrewsbury Big Flies]

Dutch's post brings up a question.  If a player was called up this year and didn't meet threshholds, can we keep him on y2y.1 next year? (Art Warren on my team, for instance).  If I'm reading the rules (pasted below) I think the answer is yes, but wanted to double check.  Thanks!

This is a year to year contract. The player stays at $300,000 until he passes the rookie threshold. Once he passes 50IP/130AB he is then offered the next level of contract the following year.

[Dutch Miracle]

Good post! I think I interpreted it correctly, but I also explicitly posted those references so anyone could correct me. 

[Manila Folders]

Drew,  You are reading the rule correctly.