Forward Brayden Schenn and the Philadelphia Flyers have agreed to a four-year deal, narrowly avoiding arbitration.
Sources tell ESPN's Pierre LeBrun that the deal has an average annual value of $5.125 million.
Schenn, 24, was a restricted free agent after posting career highs with 20 goals and 33 assists in 80 games last season.
The fifth overall pick in 2009, taken by the Los Angeles Kings, Schenn's contract is split almost exactly between salary and bonuses. He will be earning $3 million in salary and is eligible for another $3 million in bonuses in 2016-17, the first year of the deal.
Had the two parties required arbitration, the contract would have been a two-year deal.