The Ottawa Senators and winger Mark Stone have avoided arbitration, as the 26-year-old put pen to paper on a one-year, $7.35-million contract Friday, the team announced.

The agreement makes Stone an unrestricted free agent next summer, though he could sign an extension with the club after Jan. 1. If he opts for the open market, the Senators face the possibility of losing Stone along with fellow pending UFA's Matt Duchene and Erik Karlsson next offseason.

Stone's hearing was scheduled for Friday afternoon, but both sides struck a deal before a third-party determination. His case was one of the most prominent among the 44 players to file for arbitration, and it was reported his initial ask was for a record $9 million, while Ottawa countered with $5 million.

Injuries derailed Stone's impressive 2017-18 season, as he recorded a team-best 62 points in just 58 games. With his new contract, Stone carries the highest cap hit on the Senators' roster, and the sixth-highest number of all right wingers in the NHL.