The New York Islanders and forward Josh year contract.

Financial terms were not disclosed.

Bailey notched 11 goals and 17 assists for 28 points in 70 games for the Islanders last season. The 21-year-old Ontario native has 34 goals and 54 assists for 88 points in 211 games over three NHL seasons.

The Islanders made Bailey the ninth overall pick of the 2008 NHL Entry Draft.