Mike Hoffman and the Ottawa Senators are settling for a one-year, $2 million deal after arbitration in Toronto on Monday, the league’s official website reports. The 25-year-old left wing initially demanded $3.4 million for one year while the Senators countered with $1.75 million over the same span.

"I was happy to get this process over with," Hoffman told the Ottawa Sun. "It's a process some players have the option of taking and, at the end of the day, the bigger picture is it's over now and I'm really glad for that.”

Hoffman added that he was nervous and intimidated about the arbitration process and compared it to a court system. With the contract negotiations over, Hoffman declared that he’s ready to look forward to the next NHL season.

"I was telling myself before going into arbitration that whatever the outcome was it's not going to change the way I approach this upcoming season," Hoffman added in the same article. "I know I've had one full year in the NHL and I still need to prove myself not only to myself but to everyone else -- fans, coaching staff and everyone -- that I am a legit player and not just a one-year guy."

Hoffman had 48 points (27 goals and 21 assists) last season in 79 games. He added 3 points (1 goal and 2 assists) in games in the postseason, where the Senators lost to the Montreal Canadiens in the first round of the Stanley Cup playoffs.