The contract is worth $1.65 million, a source told ESPN.com's Pierre LeBrun.
General manager Paul Holmgren called Bryzgalov's contract a "costly mistake," and the buyout saves the team nearly $6 million under the salary cap for each of the next seven years. Bryzgalov was two seasons into a $51 million, nine-year contract he signed in 2011.
Emery, who played for the Flyers in 2009-10, spent the past two seasons in Chicago. He sparkled in 2013 for the eventual Stanley Cup champions, going 17-1 and compiling a 1.94 goals-against average while sharing time in net with Corey Crawford.
Emery will compete with Steve Mason for the starting spot in Philadelphia.
The Blackhawks moved quickly to replace Emery, signing Nikolai Khabibulin to a one-year contract to join the team as a backup goaltender.
Wild ink Cooke to 3-year deal
Cook spent the last five seasons with the Penguins, recording eight goals and 13 assists this past year.
Ballard was let go by Vancouver earlier this week. He said he had interest from a half-dozen other teams but picked a two-year deal with the Wild because he believed he best fit with them on the ice. As a bonus, he's a native of Minnesota.
Spurgeon will get $2.66 million per season over three years, according to a source.
Scuderi returns to Pittsburgh
The contract is worth $13.5 million.
"I'm leaving a team that has a fantastic chance to play deep into the spring every season for the foreseeable future," Scuderi said. "That wasn't an easy thing to leave behind. In Pittsburgh, I get a chance with a team with an equally good chance to play into the spring. It came down to a family decision."
Scuderi has seven goals and 79 assists in 585 career NHL games, including one goal and 11 assists in 48 games last season. He had career bests in points (16) and plus-minus (+23) with the Penguins in 2008-09.
A 1998 fifth-round pick of Pittsburgh's, the Syosset, N.Y., native became a regular with the Penguins in the 2004-05 lockout. He was a reliable presence on the ice and popular in the dressing room, but with the Penguins up against the salary cap, he was let go in free agency in July 2009, signing a four-year, $13.6 million deal with Los Angeles.
Filppula leaves for Lightning
He leaves behind the Detroit Red Wings for Tampa Bay, where Steve Yzerman, his former teammate, is the general manager.
The Lightning also signed rookie first-round pick Jonathan Drouin to a three-year, entry-level contact. Drouin was the third pick in the draft last weekend. That move came just as the Lightning prepare to open a rookie developmental camp.
Filppula had shown flashes of promise during his previous eight seasons with Detroit. After scoring 23 goals and finishing with 66 points in 81 games two years ago, he managed just nine goals and 17 points in 41 games last season.
The Lightning also signed minor league journeyman forward Geoff Walker to a one-year contract.
Sharks re-sign Hannan
Hannan's contract is worth $1 million, a source told LeBrun, while Kennedy signed for $2.3 million per year.
General manager Doug Wilson announced the deals at the start of free agency Friday. The Sharks also announced that star center Logan Couture officially signed a five-year, $30 million contract that was agreed to last month but couldn't be signed until Friday.
Hannan was an unrestricted free agent while Kennedy was a restricted free agent after being acquired during the draft from Pittsburgh for a second-round pick.
The Sharks brought back Hannan for a second stint with the team at the trade deadline from Nashville for a sixth-round pick. He played four regular-season games with San Jose but was in the lineup for all 11 playoff contests.
Leafs lure Clarkson from Devils
Clarkson had spent his entire career with the Devils, playing in New Jersey from 2006-13. He had 15 goals last season and scored a career-high 30 in 2011-12.
The Leafs recently acquired Bernier's rights from the Kings.
Bozak had 12 goals and 28 points in the shortened season. He had career highs the previous year with 18 goals and 47 points. The 27-year-old Bozak has 53 goals and 134 points in his four-year career.
Bozak, from Regina, Saskatchewan, helped the Original Six franchise reach the playoffs this year for the first time since 2004. He was scratched with an undisclosed injury in Game 7 of the first round against Boston when the Maple Leafs blew a three-goal, third-period lead and lost 5-4 in overtime.
Hurricanes bolster defense, goal
The deals will pay Komisarek $700,000 and Khudobin $800,000.
The moves address two of the Hurricanes' top priorities this offseason -- bolstering their defense and finding an affordable backup for All-Star goalie Cam Ward.
General manager Jim Rutherford said he feels "pretty good that the Hurricanes have improved their team" while expressing confidence that first-round draft pick Elias Lindholm, a forward, will make the team during preseason camp.
Blues turn Russell into pick
The Blues acquired Russell in November 2011 from Columbus, where he had played for coach Ken Hitchcock.
A source told LeBrun that Lapierre received a two-year deal worth $2.2 million.
The 28-year-old Lapierre had four goals and six assists in 48 games with Vancouver, and appeared in four playoff games. The 34-year-old Aucoin had six goals and six assists in 41 games with the Islanders.
Flames sign goalie Ramo
The Flames signed Finnish goaltender Karri Ramo on Friday.
Calgary awaits a decision from Kiprusoff on whether the 36-year-old veteran will retire or return to the NHL for the final year of his contract.
But the Flames were already ushering in the post-Kiprusoff era by signing Ramo to a two-year contract worth $5.5 million.
In other moves, the Flames signed defenseman Chris Butler to a one-year extension and minor-league defenseman Chad Billins to a one-year contract.
Jets trade for Setoguchi
The deal, completed Friday during a flurry of free-agent signings, gives the Jets another player in their group of top-six forwards.
Setoguchi had 13 goals and 14 assists last season with Minnesota.
Setoguchi had a career-high 65 points during the 2008-09 season while he was with the Sharks. He hasn't come close to that total since.
Avalanche sign defenseman Benoit
The 29-year-old Benoit played in 33 games for the Ottawa Senators last season, scoring three goals and dishing out seven assists.
The team made several more moves later in the day, re-signing forward David Van der Gulik to a one-year deal. Van Der Gulik spent most of last season with the Lake Erie Monsters of the American Hockey League.
In addition, the Avs signed defenseman Nick Holden to a two-year deal. Defenseman Nate Guenin, along with forwards Guillaume Desbiens and J.T. Wyman agreed to one-year contracts, while forward Colin Smith signed a three-year entry-level deal.
Sens get MacArthur
MacArthur, 28, played for Toronto the past three seasons. He had eight goals and 12 assists in 2013.
Canadiens acquire enforcer Parros
Montreal sent prospect Philippe Lefebvre and a 2014 seventh-round pick to Florida for the 6-foot-5, 228-pound Parros. It is the same seventh-rounder Montreal acquired from the Panthers at the NHL draft last week.
Parros had one goal, one assist and 57 penalty minutes last season. In 452 NHL games, he has 18 goals, 17 assists and 1,007 penalty minutes.
The Canadiens also signed free-agent forward Stefan Fournier to a three-year contract.
Fournier had 35 goals and 72 points for Memorial Cup-champion Halifax of the QMJHL this past season. He added 16 goals and 13 assists in 17 playoff games, including three points in the tournament final in May.
Canucks add Weber, Richardson
Richardson received a two-year, $1.15 million deal, a source told LeBrun.
Richardson has 43 goals and 62 assists in 391 career games with Colorado and Los Angeles. He won a Stanley Cup with the Kings in the 2011-12 season.
He had a goal and five assists in 16 games for the Kings last season.
Weber spent the past five seasons with the Canadiens organization. The Swiss defenseman has five goals and 27 assists in 115 games with the Canadiens. He had two assists in six games last season.
Kings ink defenseman Schultz
He had no goals, three assists and 12 penalty minutes in 26 games with the Washington Capitals last season.
Schultz has spent his entire NHL career with the Capitals, with 11 goals, 64 assists and 133 penalty minutes in 399 games. He was drafted by the team in the first round of the 2004 NHL entry draft. During the 2011 playoffs, Schultz set a league postseason record by being on the ice for 119 consecutive minutes without his team being scored upon.
Sabres sign Sulzer, Bagnall
The 29-year-old German had three goals and one assist in 17 games with Buffalo before suffering a knee injury Feb. 23. He has seven goals and 20 points in 106 career NHL games for Buffalo, Vancouver, Florida and Nashville.
The Sabres also signed defenseman Drew Bagnall to a two-way contract. He appeared in two games for Minnesota during the 2010-11 season.
Information from ESPN.com's Pierre LeBrun, ESPN The Magazine's Craig Custance and The Associated Press was used in this report.