12.10 Walk-Away Rights for Player-Elected Salary Arbitration.
(a) If a Club has elected to arbitrate a one-year SPC, and the award issued is for
$3,500,000 or more per annum, then the Club may, within forty-eight (48) hours after the award
of the Salary Arbitrator is issued (or, if a Club has any other Player still eligible for salary
arbitration at that time and for whom a decision has not been rendered by a Salary Arbitrator at
that time, and the Club still has a walk-away right available to it in such League Year pursuant to
paragraph (c) below, forty-eight (48) hours after the award of the Salary Arbitrator for such other
Player is issued or that Player's salary arbitration case is settled), notify the Player or his
Certified Agent, if any, the NHLPA and the NHL in writing, in accordance with Exhibit 3
hereof, that it does not intend to tender to the Player an SPC based on the award as determined
by the Salary Arbitrator. Upon receipt of that notice, the Player shall automatically be deemed to
be an Unrestricted Free Agent.
(b) If a Club has elected to arbitrate a two-year SPC and the award issued is for
$3,500,000 or more per annum, then the Club may, within forty-eight (48) hours after the award
of the Salary Arbitrator is issued (or, if a Club has any other Player still eligible for salary
arbitration at that time and for whom a decision has not been rendered by a Salary Arbitrator at
that time, and the Club still has a walk-away right available to it in such League Year pursuant to
paragraph (c) below, forty-eight (48) hours after the award of the Salary Arbitrator for such other
Player is issued or that salary arbitration case is settled), notify the Player or his Certified Agent,
if any, the NHLPA and the NHL in writing, in accordance with Exhibit 3 hereof, that it does not
intend to tender to the Player a two-year SPC based on the award as determined by the Salary
Arbitrator. Upon receipt of that notice, the Player and the Club shall enter into a one-year SPC
providing for the compensation set forth in the award and the Player will automatically be
deemed to be an Unrestricted Free Agent at the conclusion of that one-year SPC, subject to the
provisions of paragraph (c) below.
(c) Notwithstanding the provisions of paragraphs (a) and (b) above, a Club may
exercise the walk-away rights referred to therein not more than one (1) time in a League Year in
which the Club has only one (1) salary arbitration award, one (1) time in a League Year in which
the Club has two (2) salary arbitration awards, two (2) times in any League Year in which the
Club has three (3) salary arbitration awards, two (2) times in any League Year in which the Club
has four (4) salary arbitration awards, three (3) times in any League Year in which the Club has
five (5) salary arbitration awards and so on. If a Club exercises its walk-away right with respect
to a two-year award, the walk-away right shall be deemed to be exercised in the first year of the
two-year SPC.
(d) The dollar amount of $3,500,000 set forth in each of paragraphs (a) and (b) above
shall be increased on an annual basis at the same percentage rate of annual increase as the
Average League Salary, with the first such increase occurring based upon a comparison of the
2014/15 Average League Salary to the 2013/14 Average League Salary. By way of example, if
the Average League Salary for the 2014/15 League Year has increased by ten (10) percent from
the Average League Salary for the 2013/14 League Year, then the figure of $3,500,000 stated in
paragraphs (a) and (b) above shall be increased by ten (10) percent to $3,850,000.
(e) No Club shall be entitled to walk away from any award in a Club-elected salary
arbitration.