The Montreal Canadiens announced a big signing this evening, signing defenseman Jeff Petry to a six-year deal, reportedly worth $33 million. The contract has an annual cap hit of $5.5 million per season. The deal also comes with a partial No Trade Clause (NTC).

The Canadiens have agreed to terms on a six-year contract with Jeff Petry (2015-16 to 2020-21). http://t.co/1uTeNS8XpG — Canadiens Montréal (@CanadiensMTL) June 2, 2015

Jeff Petry's new deal with Habs, $33 million over six years ($5.5 M AAV) — Pierre LeBrun (@Real_ESPNLeBrun) June 2, 2015

Jeff Petry received a partial no-trade clause from the #habs. — Chris Johnston (@reporterchris) June 2, 2015

Petry, 27, was traded to the Canadiens by the Edmonton Oilers at this year’s trade deadline for a 2015 2nd-round pick and a conditional 5th-round pick, which by the terms of the agreement has since become a 4th-round pick due to the Canadiens winning one playoff round. The pick could have been upgraded to a 3rd-round pick had they defeated the Tampa Bay Lightning in the second round.

The Ann Arbor native spent five seasons with the Oilers, appearing in 295 games with the club and putting up 17 goals and 57 assists during that time. Petry never experienced post-season drama until he was traded to the Canadiens, where he put up 3 points (2 goals, 1 assist) in 12 games.

Petry’s effective puck movement and passing game were just two traits that were welcomed to the team’s top-4, a spot Marc Bergevin hoped Tom Gilbert would fill when he traded defenseman Josh Gorges to Buffalo in order to make room for him, but the project was short-lived and Gilbert showed struggles. Alexei Emelin also had an up-and-down season and struggled to hold a top-4 spot, remaining inconsistent over the regular season and into the playoffs as well.

The Canadiens have closed the door on veterans Mike Weaver and Sergei Gonchar, who are both unrestricted free agents heading into the off-season, while it is still up in the air whether youngsters Nathan Beaulieu, Jarred Tinordi and Greg Pateryn will have a spot to fight for come training camp. The Petry signing also raises some eyebrows about the future of both Alexei Emelin and Andrei Markov. Markov, 36, still makes $5.75 million for the next two seasons but slowed down significantly in the playoffs, raising doubt about whether he could last another year or two, while Emelin’s $4.1 million price tag for the next three years could scare most general managers away.

The contract is set to end after the 2020-21 season, when Petry will turn 33.