Both players were selected in the June expansion draft with Leipsic coming over from the Toronto Maple Leafs and Reinhart being selected from the Edmonton Oilers.
Leipsic’s deal will pay him an average of $650,000 per season, while Reinhart will make $800,000 per year.
Both players will be restricted free agents again following the 2018-19 season when their contracts expire.
Leipsic, 21, is coming off of two fantastic seasons in the American Hockey League with the Toronto Marlies that saw him score 38 goals and record 105 total points in 114 games. He has only played in six NHL games to this point (all this past season with the Maple Leafs), scoring one goal and adding two assists.
Reinhart was a top-five pick by the New York Islanders back in 2012 but has not yet made a consistent impact in his NHL career, appearing in just 37 games to this point. He spent the 2016-17 playing for Bakersfield in the American Hockey League where he scored seven goals and 14 assists.