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Jimmy Kempski, who blogs for Bleeding Green Nation and Blogging the Beast, emailed me this morning about a post he did on compensatory picks in the upcoming 2013 draft. He predicts that the Tennessee Titans will get three picks based on the contracts Cortland Finnegan, Jason Jones and William Hayes signed with their new teams last offseason.
As Kempski says in this post, the awarding of compensatory picks is based on the contracts free agents that leave your team sign, and can be canceled out by any free agents your team signs. Since the Titans didn't sign anyone noteworthy- Kamerion Wimbley and Steve Hutchinson don't count because they were cut by their respective former teams- they have in line for three picks.
Kempski suggests they will get a third round pick for Finnegan. That is the highest compensatory pick that is awarded. He also projects at fifth for Jones and seventh for Hayes. That would give the Titans 10 9 picks in the draft.
While you cannot trade compensatory picks, having those picks would give them some wiggle room to trade up if they so desire.