The Los Angeles Kings have reached agreement on a new contract with restricted free agent Alex Iafallo, per reports from John Hoven and Dennis Bernstein, and later confirmed by the team.

The 25-year old forward signed a two-year deal with an annual cap hit of $2.425M, where he will receive $2.4M during the 2019-20 season and $2.45M during the 2020-21 season. He will be an unrestricted free agent at the conclusion of the contract.

The new contract means that Iafallo and the Kings will not head to arbitration this month. Iafallo filed for arbitration last week, and while very few players ever wind up going through with the hearings, doing so ensured that Iafallo could have had an arbitration hearing in the event that he and the Kings could not come to an agreement. His hearing had been scheduled for July 20.

Iafallo had a career year last season, recording 15 goals and 18 assists (33 points) while skating in all 82 games.