The Carolina Hurricanes have signed forward Teuvo Teravainen to a five-year, $27 million contract extension.
Teravainen will carry a $5.4 million cap hit in each season of the contract, starting next fall.
The 24-year-old, who was scheduled to become a restricted free agent on July 1, has 10 goals and 39 points in 48 games this season. He posted a career-high 23 goals and 64 points last season.
"Teuvo has improved every year of his NHL career and has established himself as a cornerstone forward for the Hurricanes now and into the future," general manager Don Waddell said. "He has shown that he is capable of adapting and expanding his role with our team, becoming a key penalty killer for Rod this season. He's still just 24 years old and we believe he will only continue to grow as a player."
Drafted 18th overall by the Chicago Blackhawks in the 2012 NHL Draft, Teravainen was acquired by the Hurricanes in June 2016 along with Bryan Bickell.
Teravainen won the Stanley Cup as a member of the Blackhawks in 2015.