TORONTO -- Goaltender Jonathan Bernier and the Toronto Maple Leafs have settled on a US$8.3-million, two-year contract.

The 26-year-old will count $4.15 million against the salary cap in each of the next two seasons.

Bernier and the Leafs agreed to the deal after they went to team-elected salary arbitration but before the arbitrator could hand down a ruling.

Bernier, a native of Laval, Que., had a 2.87 goals-against average and .912 save percentage this past season for the Leafs.

In 175 NHL games with the Los Angeles Kings and Leafs, Bernier is 76-67-20 with a 2.63 GAA and .916 save percentage.

Signing Bernier was the final piece of essential business this off-season for Toronto, which also hired Mike Babcock as coach and Lou Lamoriello as general manager, traded Phil Kessel and signed a handful of unrestricted free agents.

The Leafs are expected to go into their third straight season with Bernier and James Reimer as their goaltending tandem.

Reimer will earn $2 million and count $2.3 million against the cap in the second of a two-year contract.

Toronto acquired Bernier from Los Angeles in 2013 when he was a restricted free agent for the first time, sending a second-round pick, goalie Ben Scrivens and forward Matt Frattin to the Kings.

Bernier had the Leafs in a playoff spot in March 2014 when he was injured during a road trip.

The Leafs went on a free fall and missed the playoffs, setting off a series of events including the hiring of Brendan Shanahan as team president, the launching of a full-scale rebuild and the firings of coach Randy Carlyle and GM Dave Nonis.

Had Bernier and the Leafs been unable to settle before the arbitrator ruled, the award would have been for a one-year contract.

By signing Bernier for two, the Leafs bought up one year of unrestricted free agency.

Bernier can be a UFA at the end of this deal.