...we keep him long enough to trade him. However, if we trade him after exercising the option, the full salary amount comes off our books and the other team pays him. If we give him his release, we still have to pay him $1 million, while he negotiates another deal with another team.

We only pay him the full amount if we keep him the full 2013/14, then let him walk after that (I think the next year is a player option). If we do that, we're against the cap, but we get a bonus draft pick for losing a free agent.

I think that's how it works. Someone correct me if I'm wrong.