Okay, considerably less of a fan of this deal. I guess this means we're exposing Cogliano for the Vegas draft.
No. It becomes a NTC before the expansion draft so he'll be exposed. Basically it ensures he won't be traded the first year, will be exposed in expansion draft, and if he's not selected, he'll have somewhat of a say in where he's traded the 2nd year (should we decide to trade him).
All in all, it makes the deal a little bit worse, but not that big of a deal really.