No, actually according to Puckpedia it is $1.4m per season, meaning each of the four years they will get hit with a $1.4m buyout charge. This averages out to $1.4m per year, not $1m as you stated.
Also, Mrazek is due $8.6m in actual money/dollars out the door for the next two seasons, not just the $3.8m per year cap hit. His contract is not front loaded like a lot of deals, so some of the usual cash strapped teams like the Arizona State Coyotes may not be as anxious to ”assist” the Leafs with their salary cap concerns.
Considering all of that, a 1st IS probably a fair price to pay for moving Mrazek’s contract. There are probably more then a few owners who will want an even better return for their $8.6m. Remember it wasn’t that long ago during better times that the Leafs gave Carolina a 1st to take the last year of Marleau’s contract.