You ppl are funny...this team has 5 more potential roster players that are RFAs ($3M or $4M total, they're waiting on Big Joe's decision ($4.5M likely), they only have so much cap room ($10M) and they're desperate for offense.
He'd pass through waivers at this point if he doesn't have it anymore and that would cover almost all of his cap hit while he's in Ontario. My guess is, since he can still produce when healthy, he'll be up for the year and it's as low-risk a move as a team like LA can make at this point for cheap offense.
My only thing is, if (and it's a big if) Jagr would sign for similar money, I'd rather have him...more size and playmaking plus PP.