According to TSN's Bob McKenzie, the deal is worth $1.1875 million per season.
“We are very pleased to sign David to a multi-year contract," said Coyotes general manager Don Maloney. "David is a skilled defenseman and has developed into a reliable player for us. In today's game where skating, mobility and puck movement are so important for defensemen, David's talent makes us a better team."
Schlemko has two assists in nine games with the Coyotes this season. He ranks second on the team with 26 blocked shots. The 25-year-old has six goals and 27 assists in 118 career games, all with Phoenix.