The deal is for two years and $4 million.
This is a quality, low risk move by Ray Shero, given how much of other scoring wingers received today on the open market (Leino, Upshall, Ryder, Cole, etc).
It's also a strong statement by Kennedy that he wants to be a part of what is happening here in Pittsburgh. I think he should be congratulated for it.
With the signing of Sullivan, Kennedy may be ticketed for the third line, where we know he's worked well in the past with Matt Cooke (and maybe Jordan Staal, depending on how the team deploys their lines).