Faried, the 6'8" forward, started 39 games for the Nuggets as a rookie in the 2011-12 season, averaging 10.2 points and 7.7 rebounds per game. His play as a rookie garnered him a selection to the NBA All-Rookie First Team. He was drafted in the first round with the 22nd overall pick after averaging 17.3 points and 14.5 rebounds per game as a senior at Morehead State.
Hamilton, a 6'7" wing, appeared in 26 games last season, averaging 4.4 points in 10 minutes per game. He left Texas after his sophomore year in which he scored 18.6 points per game while grabbing 7.7 rebounds.
The third-year option keeps both players with the Nuggets through the 2013-14 season, when Faried will be owed $1.44 million and Hamilton $1.23 million. Both then have an additional team option for the 2014-15 season.