Compher was scheduled to have a salary arbitration hearing July 31.
The 24-year-old, who was a restricted free agent, produced 16 goals and 32 points in 66 regular-season games with the Avalanche this past season. He added four markers and a pair of assists in 12 playoff contests.
Compher has spent all three of his NHL seasons with Colorado. He was a second-round pick of the Buffalo Sabres in 2013 and was shipped to the Avalanche when Colorado dealt Ryan O'Reilly to Buffalo in 2015.
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