Terms were not disclosed, but a source told ESPN's Pierre LeBrun that the deal is worth $3.7 million per season and includes a full no-trade clause starting now and for the first two years of the deal. The deal also includes a limited no-trade clause in the third year, the source told LeBrun.
Coburn, 30, was set to be an unrestricted free agent on July 1. He is making $4 million this season with a cap hit of $4.5 million.
The Lightning acquired Coburn at the trade deadline on March 2, 2015, from the Philadelphia Flyers in exchange for Radko Gudas, a first-round pick in 2015 (Gabriel Carlsson) and a third-round pick in 2015 (Matej Tomek).
Coburn, a solid and experienced blue-liner, has one goal and eight assists for nine points with a plus-8 rating in 60 games this season. This deal adds depth to Tampa's blue line for the next three seasons.