I'm sure you are right about him not being mercenary; however, I'm right in that he's not going take $4m a year. If they are extending him at all, it's going to be at least 2 years both because of the lockout and because if they were trying to get him to go year to year negotiations would be at the end of the season. And I am pretty damn sure that a current starter and reigning Vezina winner doesn't consider himself decrepit enough to start going year to year. He's 35, not 40. Nor is he going to take a paycut.
If he's really feeling super-generous and so dislikes the idea of risking the Seattle draft that he'd rather be UFA and eat a year of lost pay, maybe 1 year at 7, but my prediction is still the same: if he signs at all, then 2 years, 7.5-8, big chunk in signing bonuses, no NMC. It may be that doesn't fit the Predators' plans, in which case he'll sign somewhere UFA for 8+, 3 years, assuming he continues to play well this year. Which is why the 2 year deal would be team friendly. It's possible the 35+ contract rule might limit his UFA options, but I still think someone will be willing to risk 3 years.