Jul 25, 2013, 1:40 PM EDT
Per Jeremy Rutherford of the Post-Dispatch, the first year of the contract is a two-way worth $750,000 in the NHL; the second year is a one-way worth $850,000.
Allen, 22, is coming off an impressive rookie season in which he started 13 games for St. Louis and finished with a .905 save percentage.
That the first year of his contract is a two-way deal gives management the freedom to start Allen in the AHL, with veterans Jaroslav Halak and Brian Elliott each under contract for one more year before they can become unrestricted free agents.
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