New stipulation added:
10 games is now when it becomes a 2 year contract with 6 games for goalies.
Two Way Contracts
Two way contracts are eligible for players who have been drafted by their respective teams. Two way contracts means that players signed to these contract can be sent up and down without going through waivers. Their contract is dictated as follows:
0-9 games of NHL Experience - Can be signed to a (max) 3 year - two way contract or (min) 2 year - two way contract with the value of the contract dictated by draft position
This number is 0-5 games for goaltenders
10 - 39 games of NHL Experience - Can be signed only to a 2 year - two way contract with the value of the contract dictated by draft position or extension value (whichever is higher).
This number is 6-29 games for goaltenders
40+ games of NHL Experience - Can be signed only to a major league contract with value of the contract dictated by draft position or extension value (whichever is higher). These players will automatically be transferred to major league roster and have to be signed to a contract or released to free agency. They will also be subject to waivers to return to the minor league.
This number is 30+ games for goaltenders
Stipulation: If a player hits 40 games it is the GMs responsibility to sign the player or release them. If the commissioner comes across a player that has played over 40 games, they will be signed to a 2 year contract based on the above rules. The player will automatically be placed on the major league roster.