Selected by the Anaheim Ducks with the No. 26 pick in the 2009 NHL Draft, Palmieri has scored 359 points (185 goals, 174 assists) in 612 regular-season games with the Ducks, Devils and Islanders, and 24 points (15 goals, nine assists) in 57 NHL playoff games.
"I'm incredibly fortunate to have a situation like this," Palmieri said. "Being born on Long Island (Smithtown, New York) and growing up mostly in [New] Jersey and now spending a lot of time on Long Island, it's hard to pick one. But I think it's something that not a lot of guys get the opportunity to play in their hometown for any period of time during their career, and I've had a good chunk of it. I'm just really looking forward to the future here."
Beauvillier, who said he signed a three-year contract, scored 28 points (15 goals, 13 assists) in 47 regular-season games and 13 points (five goals, eight assists) in 19 playoff games last season.
The 24-year-old forward was selected by the Islanders with the No. 28 pick in the 2015 NHL Draft. He has scored 155 points (81 goals, 74 assists) in 333 regular-season NHL games and 29 points (15 goals, 14 assists) in 49 playoff games.
"I'm very excited to be here long-term," Beauvillier said. "Obviously there's nowhere else I'd rather play. I feel like there's unfinished business in the past couple of years, that we haven't really accomplished our goal, so it's exciting to get back."