Ethically what he did was wrong. Legally what he did was fine. Large difference between the two.
Further, when you have the unspoken backing from the team you are retiring from that couldn't pay you on time largely as a result of your contract, it makes it even less of an issue.
I was talking more about business ethics than legalities per say. Legally, Kovy found a way out of his contract, but in typical business ethics, you would expect a person to honor their contract if it was at all possible for the person to do so, not seek to dodge it. Honestly, though, I'm tired of re-hashing the Kovy saga. He's gone, and he's not coming back, so he's not important to the current team and doesn't want to be.
This will probably be my last post about Kovy for awhile. I just wanted to make it clear that I think there are ethical questions with Kovy leaving that aren't "business as usual" with professional hockey, so I believe it is unfair to expect that fans will treat Kovy's departure as a "business as usual" thing like a player signing somewhere else. I don't spend much time resenting Kovy (I rather focus on the positives with this team, little though they may be), but I also am not going to stick up for him when someone calls him a traitor, since I understand how they could feel betrayed by what Kovy did. I'll defend somebody like Zach, but not Kovy.