He will make $2.5 million in 2014-15 and $3.5 million in 2015-16. His NHL salary-cap charge will be $3 million per season.
"We had other options," Legwand said Friday, according to the Senators website. "I think Ottawa is a place where I liked the coaching staff, I played against Paul MacLean a lot when he was with Detroit, and obviously with Jason Spezza leaving I thought it was a good fit for myself. … It's an exciting time there and it should be a good season for us."
Salary-cap constraints have forced Boston Bruins general manager Peter Chiarelli to watch from the sidelines as the rest of the GMs in the Atlantic Division have made efforts to improve their rosters in an attempt to catch the Bruins.
Tuesday was a whirlwind of activity in the NHL, with more than 75 unrestricted free agent finding new teams. But there are still some players remaining on the open market and looking for work, either with the club they played for in 2013-14 or one that has a hole it's looking to fill.
Here's a look at some of the top unrestricted free agents still available: