The team announced the buyout Wednesday, after the enigmatic forward cleared irrevocable waivers. Carolina waived him Tuesday with the intent of buying out his deal.
Under terms of the collective bargaining agreement, Semin is owed $14 million -- two-thirds of the amount remaining on his contract -- over six years. He had three years left on a deal that paid him $7 million annually.
The team also announced three relatively minor moves on the first day of the NHL's free agency period.
Nash, 25, had career highs of 17 assists and 25 points last season with the Hurricanes. He received a one-year deal that will pay him $1.15 million.
Rissanen, who split last season between the Hurricanes and their AHL affiliate in Charlotte, will make $575,000 in the NHL or $125,000 in the minors with a guarantee of $150,000.
Slavin will make $832,000 in the NHL or $70,000 in the minors with a $277,500 signing bonus.