The Vancouver Canucks and Mason Raymond avoided Monday's salary arbitration meeting by agreeing to an 11th-hour deal that will pay the young forward $5.1 million over the next two seasons.

Canucks General Manager Mike Gillis met with Raymond and his agent J.P. Barry over dinner on Sunday to see if a deal could be worked out. A new deal was reached but it was not finalized until 5:55 a.m. PT Monday, just five minutes prior to the scheduled hearing.

Raymond is set to earn $2.5 million in the first year of the contract and $2.6 million in the second year. This is a big pay increase for the Cochrane, Alberta native who earned just $760,000 in the 2009-10 season.

The speedy forward enjoyed a breakout season with the Canucks as he set career highs in goals with 25 and assists with 28. In 203 career games, Raymond has 45 goals and 52 assists.

Raymond was a second-round selection, 51st overall, for the Canucks in the 2005 NHL Entry Draft.

With 26 players now under contract, the Canucks sit approximately $3.6 million over the NHL's salary cap of $59.4 million for the upcoming season. The team has until the final day of training camp to fall under the cap.