Breece Hall is one of the best players for a franchise in transition.

Keywords: “franchise” and “transition.” The Jets and Hall have until 4 p.m.

Tuesday to agree on a multiyear contract extension or he will be slapped with either the franchise tag or the transition tag to keep him from reaching free agency, as general manager Darren Mougey revealed last week at the NFL Scouting Combine.

If that happens, the dynamics of the negotiation will shift because the salary attached to the tag will set a floor for Hall to use as the average annual value of a contract, and both sides will feel less urgency to act, an NFL agent told The Post.

The Jets will know their running back is restricted by the one-year tender on the table and Hall will want to see a few developments.

So, what’s the difference between the two options? The rarely used transition tag ($11.3 million) affords the Jets the right of first refusal — to keep Hall by matching any contract terms he accepts from another team.

If they do not match, they receive no compensation.

Only six players have been transition-tagged in the last 10 years and none have received an offer from a competing team since 2018 (Kyle Fuller).

The more common franchise tag ($14.3 million) means another team would have to surrender two first-round picks to the Jets to sign Hall — a no-chance scenario that essentially takes him off the market.

“I’d wait for a few things if I’m Breece,” CBS Sports contracts analyst Joel Corry, a former agent, told The Post.

“Wait to see what free agent Kenneth Walker gets done.

We will likely see a couple of first-round draft picks fundamentally change the running back market: Jahmyr Gibbs (Lions) and Bijan Robinson (Falcons) are going to be looking at extensions at Saquon Barkley’s contract.

And Devon Achane (Dolphins) is going to be looking to be up there.

I let those guys redefine the running back market under the theory that a rising tide lifts all boats.” An agent said the two tag amounts are the correct top and bottom....