The Islanders have agreed with Adam Pelech on a four-year contract, the team announced Monday.
Pelech's new deal is worth $1.6 million per year, reports Newsday's Art Staple.
"Adam has proven at a very young age that he's capable of playing an important defensive role on our team," Islanders President and GM Garth Snow said in a press release. "He will be an important piece of our defensive core moving forward and I'm excited to watch him continue to develop at the NHL level."
The Islanders had extended a qualifying offer to Pelech on June 26 in order to retain negotiating rights.
Pelech, 22, had three goals and seven assists in 44 games last season while earning $832,500 during what was his second season in the league.
"It's a great feeling when an organization puts that type of faith in you," Pelech said, according to Newsday's Laura Albanese.
"Hopefully, over the next four years I can establish myself as an NHL regular and push the Islanders toward [the playoffs]."
Andy Graziano, SNY.TV Twitter
Garth Snow locks up the defenseman he could not bear to lose during the Vegas Golden Knights expansion draft as Adam Pelech gets a four-year deal.
While the term initially looks long, Snow is very much enamored with the potential of Pelech and if the player repays that trust, the AAV of $1.6 million in two years will look like an absolute steal, much along the likes of previous contracts given out to Frans Nielsen and Travis Hamonic.
That leaves only Calvin de Haan as needing a contract and the defenseman has an upcoming arbitration date of next Wednesday, August 2. The thinking is Snow will submit a number in the $3 million dollar range with Calvin and his camp countering at $4.5.
If the latter is chosen by the arbitrator - or close to it - New York would be looking at approximately $2 million in cap space after adding Mathew Barzal to the roster.
But, with now 8 NHL blueliners on NHL contracts, something has to give in an apparent position of strength and Snow does hold two first-round and two second-round picks in a deep 2018 draft. Right now, things are quiet on the trade front. Question is, how long do they remain that way.