The Florida Panthers have re-signed defenseman Erik Gudbranson to a one-year contract, the club announced Monday.

Terms of the deal were not disclosed by the team, but reports indicate the deal is worth $3.5 million.

Gudbranson was selected third overall by the Panthers in 2010, and scored two goals and seven assists last season. He was slotted on Florida's second defensive pairing, and logged over 20 minutes of ice time during the Panthers' Atlantic Division-winning season.

"We are very pleased to have signed Erik," executive vice president and general manager Dale Tallon said. "He is an important part of our core who has continued to develop into a reliable, physical presence on our blue line and a strong leader in our locker room."

The 24-year-old is happy to remain in Florida for another season.

"I'm very excited for another year with the Panthers," he said. "We took great strides as a team and our group can only improve upon the success we had. It's a great time for the organization and I look forward to getting back on the ice with the team."

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