Per Sportsnet's Nick Kypreos, the deal fleshes out to $2 mil for the first 2 years, and $3 mil in the final year. The Cap hit of the Contract will be $2.66 million/year.
Update: Kypreos got the deal wrong: Per
Darren Dreger, the deal is $2 mil for the first year, and $3 mil for the final two years.