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.
A fifth-overall pick by the Los Angeles Kings in 2009, 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.