Thanks apirchik,
I am aware of the $150 discounted rate for the first year after dropping from Gold, but I had already used that, when I did drop from Gold!
Seems to me like the system lets you renew your membership for another year at the discounted rate, as long as you are still within the year of dropping from Gold, and even though you have already renewed it once for $150 already.
Then once the year is over, if you haven’t yet paid for the next year of KD membership, tough luck and you have to pay the full $300.

In short, it seems like you can get 2 years of KD membership at the discounted rate ($150 per year) as long as you pay for the second renewal while you are still within the year.
Does that make sense?