Under the deal announced Friday, Falk will be paid his NHL salary only if he is on the NHL roster. If he is sent to the AHL, he will get a minor-league salary.
The 6-foot-5, 215-pound Falk, from Snowflake, Manitoba, had two assists and 20 penalty minutes in 21 games with the New York Rangers last season.
The 25-year-old Falk was drafted by the Wild in the fourth round in 2007. He has a goal, 14 assists and 100 penalty minutes in 108 regular-season games in parts of four seasons with Minnesota from 2009 to 2013.