Yes, but the documentation seems to suggest that -e enables or disables the exit code. I would say something more like:

arg_parser.add_argument('-e', '--exit_code', help="Force naarad exit code to also be determined by the SLA results. Default is False.", default='False')

Also, I think there is a specific argument type for boolean values. We shouldn't force the user to type True or False. Just doing -e should be enough.