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is this true?

I was reading an article on bleacher report a couple days ago. It was about NBA players with the most to prove this season. Obviously, Amare Stoudemire was on the list. There was something interesting on his slide though. It said the Knicks would have the option of terminating STAT's contract after this season. Is this true? If it is, are there any requirements that would have to be met before they could do it? Would they have to pay the full amount left on his contract? Or be able to negotiate a buyout? Would that count against the cap?

                                                                                                                                                                                                               

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