12.3 (c) A Player will be subject to only one Club-elected salary arbitration in his career. Notwithstanding Section (a) or (b) above, a Player as to whom a Club has elected salary arbitration, regardless of whether a hearing took place in connection with that election, is no longer eligible for Club-elected salary arbitration. If a Club subsequently elects to take such a Player to salary arbitration, that election will be null and void.
Mrazek, of course, could elect to go to arbitration. I doubt he would get the $5mil that kickazz is suggesting, though.