Savard bit Toronto Maple Leafs winger Darcy Tucker's glove one night earlier in Atlanta's 3-1 loss at Philips Arena. The Thrashers forward will will forfeit $11,111.11 US in salary and miss Saturday's game versus the Tampa Bay Lightning.
He is eligible to return Monday against the Pittsburgh Penguins.
"Things like that happen in a game, I guess," Tucker said following Thursday's scuffle. "I looked at the ref and he said he didn't see it, but the linesman called it."
Savard has been a pleasant surprise for the Thrashers this season. He has seven goals and nine assists in 15 games.
He recently returned to the Thrashers lineup after missing three weeks with a torn ligament in his left ankle.