OTTAWA - Veteran defenceman Chris Phillips will remain with the Ottawa Senators after signing a two-year deal with the club.
The 35-year-old defenceman will make US$2.5 million in each of the next two seasons.
He was believed to be pushing for a two-year deal, while the team was originally offering one.
Phillips, who was the first overall pick of the Senators in 1996, has a goal and 12 assists in 52 games this season.
Ottawa lost winger Cory Conacher off waivers at noon when he was claimed by the Buffalo Sabres.
The Senators had acquired Conacher from the Tampa Bay Lightning at last year's deadline in exchange for goaltender Ben Bishop, who will likely be a Vezina Trophy candidate this season.