Per the official site

The Devils today re-signed center Travis Zajac to a new multi-year contract. The announcement was made by Devils’ President/CEO/General Manager Lou Lamoriello.  As per club policy, no further terms were disclosed.
 
“During his previous three seasons in the National Hockey League, Travis Zajac has proven to be among the top young players in the game, and has developed into one of the core players on our team,” said Lamoriello. “We are pleased that we were able to work out a long-term agreement.”

This is absolutely good news.  As John mentioned many times, arbitration tends to be an ugly thing, and the last thing we want to do is chase off one of the few young members of our core.