The Ottawa Citizen reports the deal is worth $800,000 at the NHL level or $80,000 at the AHL level.
Da Costa, 23, began the 2011-12 season with Ottawa, tallying five points (three goals, two assists) and eight penalty minutes over 22 contests before being assigned to the Binghamton Senators of the American Hockey League on Nov. 27. The Paris native played in 46 games with the B-Sens in 2011-12, scoring 13 goals while adding 23 assists for 36 points and accumulating 12 penalty minutes.
"He’s coming out of his entry level deal and he played some games in the National Hockey League, but he had to play in the American league to refine his game and get stronger," Senators assistant general manager Tim Murray said on the team's website. "He still has a ways to go in that department, but we recognize his talent level and his offensive ability with the puck and his vision on the ice. It’s all first class."
Da Costa was signed by the Senators as an undrafted college free agent on March 31, 2011, after two NCAA seasons with Hockey East's Merrimack College. In 67 career collegiate contests with the Warriors, he recorded 30 goals, 60 assists and 83 penalty minutes.
Da Costa is the only French-born player ever to be signed by the Senators. He has represented France at each of the past four IIHF Ice Hockey World Championships.