Aug 2, 2013, 5:31 PM EST
As per Jeremy Rutherford of the St. Louis Post-Dispatch, it is a two-year extension.
Paajarvi was a restricted free agent, after his entry-level contract worth $900,000 per season at the NHL level – as per Capgeek.com – came to an end at the conclusion of the 2013 season.
Five days after the start of free agency, the Blues traded David Perron to the Edmonton Oilers in exchange for Paajarvi.
Paajarvi, only 22 years of age, is a former first-round pick of the Oilers from 2009.
After a solid rookie season in 2010-11, in which Paajarvi scored 15 goals and 34 points in 80 games with an upstart Edmonton team, he spent part of his sophomore season in the American Hockey League after struggling to produce at the same level.
He regained a part of his scoring form during the 2013 lockout-shortened season, prior to the trade.
“Our team is built on balance, and we think he can come in here and provide an element we don’t have right now,” Blues general manager Doug Armstrong said following the July 10 trade that brought Paajarvi to St. Louis.
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