It has nothing to do with contracts, that is the week 10 (or 6 games played) deadline. Peters has 3 years left on his deal. If he plays in 6 games this year, then his contract will advance a year and he will have 2 years left.
The august deadline is for accrued seasons of service, and should only come into play in theres no new CBA. In 2010, if theres no cap, veterans must have 6 seasons of service to qualify as a UFA. If they have less, the team still has their rights. As for Peters, do not know if he was 3 or 4 seasons of service, because i do not know if 2004 counts, as he appeared in only a handful of games. Lets assume Peters has 4 right now. If he doesnt get credit for the 2008 season, entering 2009 he'll only have 4 seasons still. Its possible that he could become a FA in 2010 like he's scheduled to, but not have enough accrued seasons (6) to actually be a UFA. Hope this helps.