The New York Rangers, Vancouver Canucks, Minnesota Wild, Toronto Maple Leafs, Ottawa Senators and one unidentified team were also vying for Schultz's services.
At first, 26 of the 30 NHL clubs pitched offers for the 21-year-old.
With bonuses, Schultz can earn as much as $3.775 million in each of the two years on his deal.
Schultz became a UFA after failing to reach a deal with the Anaheim Ducks, who drafted him in the second-round, 43rd overall, of the 2008 NHL Entry Draft.
In 37 games with the University of Wisconsin, Schultz tallied 16 goals and 28 assists for 44 points.