If a player signs by 5pm Eastern, 5 days after the end of the World Series, in this case November 6th, he's not declared a FA and no other team has the opportunity to sign him. Felix Pena signed before the deadline. Then Pena's agent would be the one not doing his due diligence I guess, by signing before hitting FA if there was a team out there that had interest on him for a 40 man spot. Correct me if I'm wrong but I'm fairly certain 6 year MiL free agents are in the same boat as your standard major league FA. They can re-up prior to hitting the open market, but the team doesn't have any sort of auto-renew the first time around like with those pre-arb players on the 40 man.