How can Dion Waiters win an NBA ring even if his team loses?

Log Angeles Lakers guard, Dion Waiters could get a ring if either team wins. How is this even possible, you may ask?

The Miami Heat have just secured their spot in the Finals against the Lakers. Lucky for Waiters, he was a part of both teams during this season. At the start of the season, he played 10 games for the Miami Heat before getting traded to the Memphis Grizzlies. In March, he was traded to the Los Angeles Lakers and has been playing with them ever since the NBA restart.

This situation is truly what you call a win-win for Waiters. However, it is up to the Heat to give Waiters a ring if they do win. Receiving a ring from the Heat would be extremely generous though many believe Waiters and the Lakers will bring home a championship.