Devereaux, 29, will earn $550,000 in the 2007-08 season and $600,000 in 08-09. The Seaforth, Ont., native has played 542 NHL games with Edmonton, Detroit, Phoenix and Toronto collecting 150 points (54 goals, 96 assists) with 179 penalty minutes.
Originally Edmonton's first choice, sixth overall, in the 1996 NHL Entry Draft, Devereaux initially signed with the Maple Leafs on October 7, 2006 and was assigned to the Toronto Marlies of the American Hockey League where he played in 30 games.
He was recalled by the Leafs on December 28, 2006, where he finished the season, collecting 19 points (eight goals, 11 assists) with 12 penalty minutes in 33 games.
Devereaux was a member of the 2002 Stanley Cup Champion Detroit Red Wings setting career-highs in games played (79) and goals (nine).