If the Stars reach the conference finals and Russell plays 50 percent of the games in the first two rounds, the draft pick turns into a first-rounder. No salary will be retained in the deal.
Russell, 28, is a mobile and heady blueliner. He moves the puck well and has the ability to be active off the rush and in the offensive zone. The 28-year-old Russell has been a prolific shot-blocker the past three seasons for the Flames, with 174 in 51 games this season after a career-high 283 in 2014-15.
Russell lacks a bit of size at 5-foot-10, 170 pounds, which can give him difficulty defending heavier forwards, but his compete level and mobility compensates for his size.
He's a solid three or four D-man who had a great 2014-15 season. Overall, Russell is a solid defenseman with offensive upside.
"It's a chance to win the Stanley Cup and that's what you want as a player," Russell told TSN. "They're a highly skilled team, exciting to watch, not to play against."
Calgary's struggles were tough to deal with after a playoff run last season.
"It was tough coming off last year. We had high hopes for this year," he said.
The Flames wished Russell well on Twitter:
Thank you, Russ! Kris Russell is the epitome of a heart-and-soul player and we wish him all the best! pic.twitter.com/Ewvd8DDP60
— Calgary Flames (@NHLFlames) February 29, 2016
Originally, Russell was a third-round pick in the 2005 NHL entry draft. He has 38 goals and 135 assists for 173 points in 562 NHL career games. This season he has four goals and 11 assists for 15 points in 51 games.
Russell will be an unrestricted free agent after this season and his current cap hit is $2.6 million. Jokipakka, 24, was a seventh-round pick in 2011.
Jokipakka has played in 40 games this season after playing in 51 games as a rookie in 2014-15. He has the first two goals of his career this season and 16 career points in 91 games.
Pollock, a second-round pick by Dallas in 2014, is with the Edmonton Oil Kings of the WHL.
Information from The Associated Press was used in this report.