Drance mentioned yesterday that management was scared to lose another respected vet in the locker room after the Markstrom/Tanev departure and how it affect team morale. Pearson's agent clearly knew this a squeezed them for every last cent.
To be in contention you need a significant amount of your roster outplaying their contracts. These kinds of deals leave zero room for that. If Pearson returns to his peak last season's form for 3 years, this will be a fine deal. If he continues at his current pace, its a bad deal. If he continues to decline, it's a Sutter deal.
There's no room for error right now and Benning does not seem to understand that in the slightest.