Asked about the clause after Sunday's win over Everton, Rodgers said: "Listen, there are probably clauses in most managers' contracts. It's all hypothetical.
"I've been very fortunate to work with some brilliant clubs and great institutions. The ambition was to help the club to arrive in the top six."
But Rodgers added he was happy at the King Power Stadium.
"My main focus is very much with Leicester. They have been first class with me.
"I left a club eight months ago, and now there's a huge challenge for us which is finishing in the top-six. I have loved every minute since I came here."