The Toronto Maple Leafs and forward Peter Holland have settled on a one-year contract worth $1.3 million, Sportsnet's Elliotte Friedman reports.
He was scheduled for an arbitration meeting with the Maple Leafs just prior to signing the deal.
Holland didn't take on a greater role under Mike Babcock as was expected in a season in which the Maple Leafs tore down. He produced at about the same offensive rate and with a similar usage as the year prior, and finished with 27 points to edge his career-best total.
The former first-round draft pick of the Anaheim Ducks was placed on waivers last week as a tactic leading up to Monday's scheduled meeting.
Toronto has $1.3 million in cap room with restricted free agents Frankie Corrado and Martin Marincin still unsigned, as well as an empty slot on the roster for a backup goaltender.
