According to the AP, the deal is a one-year, two-way NHL-American Hockey League contract. McElhinney will make $750,000 if he plays in the NHL, and $105,000 if he plays in the minors.
From the article:
He was originally acquired by Columbus from Phoenix, along with two draft picks (second round in 2012 and fifth round in 2013), in exchange for Antoine Vermette on Feb. 22, but he did appear in any games after that due to injury.
The Blue Jackets have struggled with goaltending since making their lone playoff appearance in 2009. Steve Mason, the Calder Trophy winner that year who has floundered since, is still under contract. The club recently traded with Philadelphia to obtain 23-year-old Sergei Bobrovsky. Also under contract is Allen York, a former sixth-round pick who is just 23 and played well in spot duty last season.
The AP article goes on to say that Columbus is still contemplating offers for Rick Nash, but as reported here, the Blue Jackets appear to be in no hurry to dish Nash.