– Ron Francis, Vice President of Hockey Operations for the National Hockey League’s Carolina Hurricanes, today announced that the team has agreed to terms with forward Tim Wallace on a one-year, two-way contract. The deal will pay Wallace $700,000 at the NHL level, or $105,000 at the minor-league level, for the 2012-13 season.

“Tim is a versatile forward and played well with Tampa Bay to finish the year,” said Francis. “He has a good amount of pro experience and should challenge for a spot with the Hurricanes in training camp.”

Wallace, 27, split the 2011-12 season between the New York Islanders and the Tampa Bay Lightning, notching three goals and earning six assists (9 points) in 49 NHL games. The Anchorage, AK, native started the season with the Islanders’ American Hockey League (AHL) affiliate Bridgeport Sound Tigers, scoring nine goals and earning 11 assists (20 points) in 24 games. Wallace (6’1”, 207 lbs.) was claimed on waivers by the Lightning on Feb. 23, and finished the season with three goals and five assists (8 points), while playing in 16 of Tampa Bay’s final 18 games.

Prior to turning professional, Wallace played four seasons of collegiate hockey at Notre Dame and set a school record by playing in all 153 of the team’s games during his career. He signed with Pittsburgh in the fall of 2006 and played five seasons in the Penguins system before signing with the Islanders as a free agent in 2011. Wallace has scored three goals and earned eight assists (11 points) in 79 career NHL regular-season games with Pittsburgh, the Islanders and Tampa Bay. He has notched 84 goals, earned 73 assists (157 points) and accumulated 307 penalty minutes in 328 career AHL regular season games with Wilkes-Barre/Scranton and Bridgeport.