Sid signed a 5 year contract extension with the Penguins today. It goes into effect in the 2008-2009 season. The Post-Gazette breaks it down like this:
08-09 - $9 million ($5 million of which is a signing bonus)
09-10 - $9 million
10-11 - $9 million
11-12 - $9 million
12-13 - $7.5 million
In signing the contract, Sid is not earning the maximum, which is currently just over $10 million per season. It's a small way of showing the winning is more important to him than the extra $1 million per year. In fairness, he does have several other revenue streams that make a statement like that a little easier to make. It is refreshing, however, to see a player accept less than they're "worth", since all we seem to hear about is how it's not about money, it's about the respect.
The other thing that the Pens are avoiding is someone throwing the max at Sid after next season when he'd be a restricted free agent. Vanek got a huge offer from Edmonton. It would be easy to imagine someone offering Sid whatever he wanted. Good not to have to go through that.