According to CBC Sports, the deal is worth $550,000. Fraser, who earned $500,000 in 2010-11, was scheduled to go to an arbitration hearing on Aug. 4.
The 24-year-old Fraser played in 26 games last season, producing 2 assists and 29 penalty minutes. He suffered a broken hand in the first half of the season and was a healthy scratch down the stretch under head coach Jacques Lemaire.
New Devils coach Peter DeBoer has some history with Fraser, as he coached him for two seasons (2004-05, 2005-06) in the Ontario Hockey League with the Kitchener Rangers. Fraser has 3 goals and 8 points in 94 career NHL games. He had a career high 3 goals and 6 points in 61 appearances with the Devils in 2009-10.
Life's about opportunity and how you respond to that opportunity, and obviously he must have some swagger about him, some confidence about him, because he was solid. He made some good saves. He was 6-foot-3 on every shot, which is a good thing for a goalie. He played well. We got a win.
— Maple Leafs coach Mike Babcock on rookie goaltender Garret Sparks, who made 24 saves in his first NHL start, a 3-0 win vs. Oilers
TONIGHT ON NHL NETWORK
5:00 ET: NHL Live Powered by Constellation 7:00 ET: NHL Tonight