Generally, when teams use the "vet min" salary exception, it's referring to a 10+ year vet.
Simple minimum salary exceptions are for guys with less than ten years experience.

Just to clarify the scale for 2012-2013 (same as last year):
Minimum salaries

0 Yrs - $473,604
1 Yrs - $762,195
2 Yrs - $845,389
3 Yrs - $885,120
4 Yrs - $915,852
5 Yrs - $992,680
6 Yrs - $1,069,509
7 Yrs - $1,146,337
8 Yrs - $1,223,166
9 Yrs - $1,229,255
10+ Yrs (The "Vet Min") - $1,352,181

This should prove helpful for all the salary cap gurus out there.

must be nice where the minimum wage is almost $500,000