The Tampa Bay Lightning signed forward Ryan Callahan to a six-year contract, the team announced Wednesday.
The Lightning also announced they have used their second, and final, compliance buyout, as allowed by the NHL's Collective Bargaining Agreement, on forward Ryan Malone.
According to ESPN.com, Callahan's deal is for a total of $34.8 million -- an average of $5.8 million per season -- and also includes a partial no-trade clause. Callahan will receive $6 million next season, $6.4 million in 2015-16, $6.5 million in 2016-18 and $4.7 million in the final two seasons of the deal.
Callahan was a pending unrestricted free agent and other teams were allowed to begin talking to him as of 12:01 a.m. ET Wednesday.
"We are pleased to announce that we've reached an agreement on a six-year contract extension with Ryan," Lightning general manager Steve Yzerman said in a statement.
"He's proven to be a fierce competitor and outstanding leader who fits very well with our team."
Callahan was acquired from the New York Rangers at the NHL Trade Deadline on March 5 along with draft picks for forward Martin St. Louis. He had six goals and 11 points in 20 regular-season games following the trade.
"I couldn't be happier to be part of the Tampa Bay Lightning organization for the next six years and I am excited for this new chapter of my career," Callahan said. "Tampa Bay has been a great place to live and play from the day I got there. As soon as the season ended I knew it was a place I wanted to be."
A fourth-round pick (No. 127) by the New York Rangers in the 2004 NHL Draft, Callahan has career totals of 138 goals and 265 points in 470 regular-season games for the Rangers and Lightning. He also has 14 goals and 24 points in 63 Stanley Cup Playoff games.
Malone will become an unrestricted free agent. Per the CBA, the Lightning will pay two-thirds of the value of his existing contract over twice the term of the deal.
Malone has spent the previous six seasons with the Lightning after being acquired from the Pittsburgh Penguins on June 28, 2008. He has played in 342 games with the Lightning during that time, recording 92 goals, 30 power-play goals, 201 points and a minus-28 rating.
Malone has played in 641 career NHL games with Tampa Bay and Pittsburgh with 179 goals, 370 points 57 power-play goals and 25 game-winners. He has appeared in 43 Stanley Cup playoff games, registering nine goals and 22 points.