reserve-clause

reserve clause

noun Sports.
the clause in the contract of a professional player in some sports that binds the player to a team for a season beyond the expiration of the contract in the event a new contract has not been made meanwhile or the player has not been sent to another team.

Origin:
1940–45

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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WordNet
reserve clause

noun
a clause that used to be part of the contract with a professional athlete extending the contract for a year beyond its expiration; "the reserve clause was used to bind players to a particular ball club" 
WordNet® 3.0, © 2006 by Princeton University.
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