Erskine will earn $1.925 million in 2013-14 and $2 million in 2014-15.
Holtby, 23, leads his 2008 draft class in playoff appearances (14) and wins (7) and ranks second among all goaltenders drafted in 2008 in career games played (32) and wins (19). He has registered a 19-10-3 record with a 2.51 goals-against-average, a .916 save percentage and four shutouts in his 32 career NHL appearances.
"We are pleased to sign Braden to a contract extension," said Capitals GM George McPhee. "Braden is a young and talented goaltender who has performed very well in both the regular season and the playoffs during his NHL career. We are fortunate to have two excellent young goaltenders on our roster in Washington.
Holtby has compiled a 5-6-0 record this season with a 3.37 goals-against-average, an .896 save percentage and one shutout.
He was originally drafted by Washington in the fourth round (93rd overall) of the 2008 NHL Entry Draft.
Erskine, 32, currently ranks sixth on Washington in average ice time per game (19:30).
The Kingston, Ontario, native has recorded nine goals and 32 assists along with 452 penalty minutes in 294 career games with the Capitals. In 435 career NHL games with Washington, the New York Islanders and Dallas, Erskine has accumulated 12 goals and 34 assists for 46 points, and 788 penalty minutes.
Erskine was originally drafted by Dallas in the second round (39th overall) of the 1998 NHL Entry Draft.
