Veteran forward Trevor Linden will play a 15th season with the Vancouver Canucks.
The Canucks confirmed Monday that Linden re-signed for $600,000 US with an additional $200,000 US in incentives.
The two-time all-star pocketed an estimated $1.52 million US last season, but posted career lows of seven goals and 16 points in 82 games.
"I'm realistic enough to understand that you get paid for performance," Linden said in explaining such a sizable drop in pay.
"We sat down probably three weeks ago and realized we were pretty much on the same page. Mostly, it was just getting together and getting it down on paper."
Linden, 36, had totalled 356 goals and 830 points in 1,243 games over 17 NHL seasons with the Canucks, New York Islanders, Montreal Canadiens and Washington Capitals.
The native of Medicine Hat, Alta., was drafted second overall by Vancouver in 1988.