Does star forward Jaromir Jagr have an opt-out clause?

The Edmonton Journal reports, that Jaromir Jagr could return to the NHL this summer as an unrestricted free agent. Avangard Omsk, the team Jagr plays for is in financial trouble which has sparked speculation that Jagr could hit the free agent market this summer.
A source in the Pittsburgh media claims he spoke to Jagr in the summer and Jagr does have an opt-out clause following year 1. Others have denied that but Jagr is a smart man and why would he sign in Russia for three years without a way out.
It’s looking more likely that Jagr could hit the free agent market this summer. Last summer the Oilers and Penguins were in pursuit of Jagr. Pittsburgh and Jagr discussed a two year-deal worth $5.5 million per season, but Jagr was torn on returning to Pittsburgh and didn’t move on the Penguins offer. The Oilers offered Jagr a one year-deal worth $8 million. Jagr was looking for a three year deal.