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RonG is right, and yes the language is complicated. Lakers will swap with the Cavs pick (whichever is least favorable--likely the Heat) if the Lakers make the playoffs. If the Lakers don't make the playoffs, then Phoenix gets the pick (and the Cavs right to swap expires). Nothing carries over to next year.
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For Phoenix:
2013 first round draft pick from L.A. Lakers
The L.A. Lakers will send the least favorable of their own 1st round pick (top-14 protected), Cleveland's own 2013 1st round pick, Sacramento's own 1st round pick (top-13 protected) and Miami's 2013 1st round pick to Phoenix. If the L.A. Lakers' 1st round pick is within the top-14 selections, Phoenix will automatically receive the L.A. Lakers' 1st round pick. [L.A. Lakers-Phoenix, 7/11/2012]
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For Phoenix:
2013 first round draft pick from L.A. Lakers
The L.A. Lakers will send the least favorable of their own 1st round pick (top-14 protected), Cleveland's own 2013 1st round pick, Sacramento's own 1st round pick (top-13 protected) and Miami's 2013 1st round pick to Phoenix. If the L.A. Lakers' 1st round pick is within the top-14 selections, Phoenix will automatically receive the L.A. Lakers' 1st round pick. [L.A. Lakers-Phoenix, 7/11/2012]