Next season Lovejoy will be on a two-way contract, meaning he’ll make a fraction of $525,000 if he’s demoted to the American Hockey League.
The second two years of the contract guarantee Lovejoy $525,000 no matter what league he’s in.
Reading between the lines, the Penguins must believe Lovejoy has a future as a full-time NHL player by the 2011-12 season, if not even sooner.