11.19 Loan to Clubs Outside North America. The SPC of any Player may contain a clause that provides that, in the event his NHL Club Loans the Player to a club outside the NHL, during the period of such Loan, the Player shall have the option to be Loaned to a club of his choice outside North America. The clause may relieve the NHL Club of the obligation to pay the Player his Paragraph 1 Salary for the duration of such Loan if such relief is expressly stated in the provision, but the NHL Club shall otherwise be responsible for all other payments due to the Player by the NHL Club pursuant to his SPC. Such clause shall be subject to any applicable Player Transfer Agreement between the NHL and a hockey federation and/or the IIHF in effect, at the time of the Loan. The Player shall be permitted to make financial arrangements for compensation and other benefits with the club outside North America for the duration of the Loan, which financial compensation and benefits shall not be included in Averaged Club Salary, Actual Club Salary, League-wide Player Compensation or the Players' Share. The Club shall be required to provide to the NHL and the NHLPA in accordance with Exhibit 3 any loan agreement entered into in relation to such Loan by no later than 5:00 p.m. New York time on the day following the day the Club has received the executed loan agreement."