The deal will pay Sutter $600,000 on the NHL level or $150,000 on the American Hockey League level, with a guarantee of at least $250,000.
Sutter, 26, appeared in three games with the Hurricanes this season. He played 70 games for their AHL affiliate, the Charlotte Checkers, registering career highs in goals (19), assists (29) and points (48). He finished second on the team in scoring.
Selected by the Calgary Flames in the sixth round of the 2007 NHL Draft, the 6-foot, 200-pound player has one goal and five points in 37 career NHL games with the Flames and Hurricanes.
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