Hollowell is a 4th round pick of the Leafs from 2019. He was drafted as an overage player in 2019 after scoring 77 points in 64 games for the Soo Greyhounds.
Hollowell has spent his time in the Leafs organization on the Toronto Marlies. This season he has 14 points in 23 games for the Marlies. He's small in stature at just 5'9, but is a good puck mover and can quarterback a powerplay. He is an offensive defenceman who has flourished in the Leafs' system.
The deal will pay Hollowell $750K next season but is a two-way deal. The contract buys the Leafs some time before they need to make a proper decision in regards to where Hollowell fits in the Leafs' future plans.