"We are very pleased to sign Lauri to a two-year contract," Phoenix GM Don Maloney said. "Lauri is an excellent skater, a versatile forward and an important player on our team. We are happy to avoid arbitration and finalize a contract."
Korpikoski and the Coyotes had been scheduled for an arbitration hearing Thursday.
The 6-foot-1, 200-pound Korpikoski set career highs last season with 19 goals and 21 assists for 40 points, placing him fifth on the Coyotes in scoring. He added 4 game-winning goals, 2 shorthanded goals and had a plus-17 rating. The Coyotes were 21-6-3 when he registered a point, 11-5-1 when he scored a goal and 13-4-2 record when he collected an assist.
In three NHL seasons with the Coyotes and New York Rangers, Korpikoski has played in 218 regular season games, registering 30 goals and 65 points. He has also appeared in 19 Stanley Cup Playoff games, recording 2 goals and 5 points. Phoenix acquired Korpikoski from the New York Rangers in exchange for Enver Lisin on July 13, 2009. He was originally drafted by the Rangers in the first round (No. 19) in the 2004 Entry Draft.