I'm surprised no one has posted this yet:
If true, this is why Jagr took so long to get signed. The whole "nobody wants Jags, BUT WHY?" narrative was likely overblown. It was "Nobody wants Jags yet at 4M"
I would guess that teams were likely willing to offer him a 35+ incentive based contract while Jagr wasn't going to play for a less than ideal salary. Players can decline very quickly from season to season in their late 30s let alone their late 40s. The decline sneaks up on players, and Jagr already looked to have taken a major step back last year. Skating is likely a huge concern.
Keep in mind, Jagr has also never played in Canada, and Calgary is cold as hell. It's possible Calgary offered him this contract earlier, and Jagr waited it out hoping another team would emerge willing to match it that played somewhere where it wouldn't be -50 with 32 inches of snow in September.
I like this move for Calgary. They are shaping up into a serious contender and the addition of Jagr and Smith instantly adds two veterans to the room who have been deep in the playoffs, played for (or on the bench for...) gold medals, and know what it takes to win. Worst case scenario, Calgary just blew 4 million dollars on a player whose done on a 1 year deal. They should still have enough extra cap space after filling out a 23 man roster that they can fit in the remaining salary of a decent rental player at the trade deadline if needed.