— Renaud Lavoie (@renlavoietva) February 24, 2016
The average annual value is $1.16 million against the salary cap.
Byron, 26, has eight goals and three assists with a minus-2 rating in 40 games with the Canadiens this season.
The Ottawa, Ont., native was originally acquired by Montreal this past October when he was claimed off waivers from the Calgary Flames.
Byron has appeared in 178 career NHL games in six seasons with the Canadiens, Flames, and Buffalo Sabres.