I think 4-5 mil for like 3-4 year's is fair

3x4.75

The same

He hasn't played in a single playoff game yet. It's not like he's Hellebuyck or Binnington that came in and catapulted his team into the postseason. He has put up decent but not spectacular numbers over his career as a starter while playing behind a poor team.

If Vancouver can make a deep playoff run on the back of an exceptional postseason from Markstrom, then I think he will earn a big extension similar to Gibson and/or Hellebuyck. However, if Vancouver misses the playoffs or makes an early exit, then I wouldn't give him more than a couple years at $3.5 million.

I would offer 3 years at $5.5 AAV
year 1 = $7M salary
year 2 = $4M bonus on 07/01 + $1m salary
Year 3 = $3.5M bonus + $1m salary

immediate rewards for a good season, AAV stays reasonable, can cash in again in 3 years, easily tradable if needed after yr 2 signing bonus is paid.

if someone wants to give him 4 years and $6m+ / year AAV, let them, and groom Demko and offer sheet a Georgiev or sign a vet for 1 year