So it's a player option. I would have little doubt that he will exercise it. Is there something in the rules that prohibits offering a player a financial incentive NOT to exercise an option?
I think sometimes in certain cases a player will take a smaller amount of money but its rare. i think alonzo mourning did it this year.
" .....Norris, 31, has one more season — worth $4.2 million — left on the contract he signed with the Rockets, with the team holding an option for an additional season. The contract for Baker, 33, includes one more season, at his option, worth $3.85 million......" http://www.chron.com/cs/CDA/ssistory.mpl/front/3056661
Whatever his contract situation, it's all good to me. Either way, it will gives the Rockets more cap flexibility then they had, something they really needed. Any contribution he can give the Rockets would be gravy, again, good trades by CD.