It's a two-way deal that also pays $100,000 in the AHL. The 31-year-old split the 2006-07 season between the Columbus Blue Jackets and the Buffalo Sabres, going 3-5-1 with a 3.34 goals-against average and .897 save percentage.
The Anchorage native is 30-24-7 with a 2.65 GAA and .900 save percentage in 76 career NHL games in a career that started in Edmonton.
Conklin will battle Danny Sabourin for the backup job behind starter Marc-Andre Fleury. Sabourin signed a one-way deal.