Hello all! Lurker and first time poster, Max here.
I'm thinking you give Pageau just north of $3M/yr for 3 years. The Sens have quite a lot of guys in the line up and coming up the ranks who'd like to get their start at the #3C spot. Brown, White, Paul, and even Lazar is still probably hoping to move up from #3C ( though I see Lazar as the #3RW this year ). It won't be for another 2-3 years before the Sens know what they have behind Brassard and Turris at C...if Turris and Brassard are even still around at that time... You don't want to be hamstrung with a super long contract. I do think Pageau is movable no matter what happens ( IF you move him ), but it is always a good idea to give yourself flexibility.
A lot will depend on what happens with Pageau this year. His numbers were very good last year for a #3C, but he was moved up in the line up a lot, which made him more of a #2C. It is unlikely he will be able to have the success on the PK he had this past year, and he probably won't have Stone on the RW. If he has Smith on the LW, he may find that the shooting percentage from that wing may not be what it was last year. I'm not sure if Pageau will see a drop in production or not. But I doubt he exceeds his totals from last year. I think $3M per year is more than fair for a guy that tops out around 40pts in a depth role.
Just my opinion on it.