Thanks Chuck..that clears up everything perfectly..its as clear as mud now:
"The announcement, which was billed by Hagel and his staff as a definitive answer to questions about his political future, left far more questions than answers.
Hagel offered no insight into whether a presidential candidacy would preclude a run for a third Senate term, saying only that he would continue to raise money for both his Senate campaign committee and his political action committee."
WaPo has more of the non-story here.