The Sabres used the pick to select J.T. Compher from the USA Team National Development Program.
McBain was selected by the Hurricanes, 63rd overall, in the second round of the 2006 NHL Entry Draft. He spent the first four years of his NHL career in Carolina.
In 206 career NHL games, the Edina, Minnesota native has 19 goals and 56 assists.
He has one-year and $1.9 million left on his contract with a cap hit of $1.8 million. He will be a restricted free-agent at the conclusion of the 2013/14 season.
Sekera played in 37 games during the lockout shortened 2012/13 season and contributed 12 points, including two goals.
He was drafted in the third round, 71st overall of the 2004 NHL Entry Draft and made his NHL debut in the 2006/07 season.
The 27-year-old defenceman has two years left on his deal that will see him earn $1.75 million each year, with a cap hit of $2.75 million.
In 339 NHL games, Sekera has 17 goals and 75 assists.