12.3 (a)(iv) A Player subject to a Club-elected salary arbitration pursuant to this
Section 12.3(a) shall remain eligible to negotiate and sign an Offer Sheet
with any other Club pursuant to Section 10.3 of this Agreement by no later
than 5:00 p.m. New York time on July 5 immediately following the Club's
election of salary arbitration. For further clarity, if a Club has elected
salary arbitration on a Player pursuant to this Section 12.3(a), and such
Player signs an Offer Sheet by no later than 5:00 p.m. New York time on
July 5 immediately following the Club's election of salary arbitration, the
Club's rights under this Section 12.3 shall be void ab initio and the Club's
rights shall instead be governed by Section 10.3 of this Agreement.