The Penguins got the 50th overall pick for the rights to Kennedy, who is a restricted free agent.
Kennedy, 26, had six goals and five assists in 46 regular-season games and two goals and three assists in nine playoff games.
"Tyler is a highly-competitive forward who plays with speed and has a history of scoring big goals," Sharks general manager Doug Wilson said in a statement. "He has played in a lot of playoff games over the last past five seasons, won a Stanley Cup and we think he fits in perfectly with our group and how we want to play the game."
We've got to find a way to win a game. He's played well in the minors, now he gets his opportunity. We tried [with Jonathan Bernier]. The way I look at it, you get opportunities and you make the most of it. That's what [James Reimer] did. Now another opportunity is here and Sparks ... you gotta grab it. Is he ready? We'll find out.
— Maple Leafs coach Mike Babcock to the Toronto Star on recalling goalie Garret Sparks from the AHL to start Monday in his NHL debut
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