The agreement, which carries a $750,000 value at the NHL level, guarantees $350,000 to Schueneman. He is set to make $275,000 at the AHL level.
Schueneman, 26, tallied six points (two goals, four assists) in 24 games with the Canadiens in 2021-22. He collected an assist in his first NHL game on December 28 in Tampa and scored his first goal on March 17 against the Dallas Stars.
The Milford, MI native also amassed four goals and seven assists in 32 contests with the Laval Rocket in the regular season, before helping his team reach the Conference Finals of the Calder Cup Playoffs with one goal and three assists in 15 games. Schueneman has 45 points (11 goals, 34 assists) and 49 penalty minutes in 118 career AHL games with the Rocket and the Stockton Heat.
The undrafted 6-foot, 196 lbs rearguard will be in his fifth season as a professional. He sported the colors of the Western Michigan University Broncos from 2015 to 2019, wearing the "C" in his final season with the team.