What does this mean for Silovs? In 5 years he'll be 28. If his development proceeds like that of a typical goalie, he'll be ready to take over by that time. Is this basically a contract meant to take the team there? He'll be ready to step in as an NHL regular, if not a 60+ game starter before then, and perhaps this contract is meant to enable Silovs to gradually increase his NHL playing time until then.
Silovs simply isn't very good, and will likely leave the organization as a Group VI UFA after next season.