I understand what you're saying OP about not overpaying Lawrence and receiving a comp pick, but it'd put us in a very, very bad spot this year.
Trading him > Letting him walk.
We'd likely get the highest comp pick possible for Lawrence (a 3rd), but having to wait a year to be able to use that 3rd hurts.
If they explore trades for him, there's a good chance they could get back a 2nd or even a late 1st. The Patriots were in a similar predicament with Chandler Jones (who was around D-Law's age at the time) and got a 2nd rounder back for him. This is a much better alternative to letting him walk because a) It'd be a higher draft pick than the comp pick and b) you'd get to use the draft pick right away instead of waiting a year.