From the Nashville Predators:

Nashville, Tenn. (September 1, 2009) - Nashville Predators President of Hockey Operations/General Manager David Poile announced today that the club has signed restricted free agent forward Cal O'Reilly to a two-year, contract. The first season of the contract will pay him $550,000 at the NHL level and $105,000 at the AHL level, while the second season is a one-way deal worth $575,000.

            O'Reilly, 22 (9/30/86), registered five points (3g-2a) in 11 games with the Predators during the 2008-09 season, the first NHL action of his career. The Toronto, Ont., native notched an assist in his NHL debut against Detroit on Feb. 28, 2009, and posted a four-game point streak (3g-1a) in games No. 4-7 of his career during his second recall of the season from March 28-April 3. The 6-0, 187-pound center spent the majority of his third professional season with Milwaukee (AHL), tying for second in the league in assists (56) while ranking second on the Admirals and tied for 15th in the AHL in scoring (69).

In a nice compromise, the Preds get a two-way contract for this season, and O'Reilly gets a one-way deal in 2010-11. We should have quite a competition for that 3rd-line center spot this month...