It's reportedly a two-way contract in the first year that will pay him $650,000 if he plays in the NHL and $85,000 if he returns to the NHL. Year two of the contract is a one-way deal that will pay him $850,000.
“We had great conversations with the club throughout the summer and there are a lot of dynamics that come into play, as you know, with Vancouver's goalie situation going forward,” Lack's agent Kurt Overhardt told the Vancouver Sun. “So I think with the way the deal is structured, it gives the club and the player an opportunity to play him in the minors this year for most, if not all, of the year and allow him to play hopefully upwards of 50-plus games, maybe 60 games."
Lack originally signed with the Canucks prior to the 2010 season as an undrafted free agent. He's been one of the top goalies in the American Hockey League the past two years, finishing seventh and fourth in the league in save percentage each season.