The Carolina Hurricanes agreed to terms with forward Steven Lorentz on a three-year, entry-level contract Friday.

The deal will pay Lorentz $650,000 on the NHL level in 2017-18 and 2018-19 and $700,000 in 2019-20. On the American Hockey League level, he would earn $60,000 per year. Lorentz receives a signing bonus of $185,000.

Lorentz, 21, ranked tied for second among Peterborough skaters with a career-high 29 goals during his fourth Ontario Hockey League season in 2016-17. He also established career highs in assists (32) and points (61), serving as Peterborough's alternate captain and helping the Petes earn the top record in the Eastern Conference during the regular season.

The 6-foot-4, 201-pound Lorentz ranked fourth in the league in playoff goals with nine, despite having played just eight games in the first two rounds as Peterborough swept Niagara and Kingston to reach the Eastern Conference Final. Peterborough dropped Game 1 of its Eastern Conference Final series against Mississauga on Thursday, with Lorentz factoring on all three of the Petes' goals.

"Steven took a big step forward this season with Peterborough, and has earned an opportunity to continue his development with our organization," Hurricanes general manager Ron Francis said in a statement.

The Kitchener, Ontario, native was the Hurricanes' seventh-round selection in the 2015 NHL draft.