Terms of the deal were not disclosed by the team, but Sportsnet is reporting the contract will pay Jagr $2 million this season. If he plays in at least 45 games, he will earn an extra $2 million in bonus money.
Jagr, who admitted he showed interest in at least three other clubs, said less travel, a familiarity within the Eastern Conference, and an opportunity to play with the Devils were reasons he decided to sign. He'll wear jersey No. 68.
"I'm 41 years old and do not have many more options," Jagr said on a conference call. "Not many teams are looking for a forward my age, especially with the salary cap going down. My agent [Petr Svoboda] asked if I would be willing to play for New Jersey and I was. I talked to Lou even before [Ilya] Kovalchuk retired and after he retired.
"I felt it was even more important for me to play on the Devils roster [after Kovalchuk's NHL retirement]."