Michael Jacobs is among four Northampton players offered new contracts, while eight of Town's squad have been told to leave Sixfields.
Midfielder Jacobs was a key player in the Cobblers' successful survival charge this season, bagging six goals having started all but one of the club's league games.
And he has been offered fresh terms by the League Two outfit along with defenders John Johnson and Anthony Charles and goalkeeper Neal Kitson.
But manager Aidy Boothroyd, in his first close season at the helm, has released Lewis Young, Jason Crowe, Andy Holt, Nathaniel Wedderburn, Ryan Gilligan, Michael Built, Freddy Hall and Tadhg Purcell.
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