Quoting: DiehardRedWingsFan58
Grubauer is way underpaid doubt he takes anything less then $5 mil to $5.5 mil per for 2 years or so
Backups and 1B goalies don't command that kind of money. He's never played more than 37 games in a season, hard to pay a guy like that Starter Money. Here are the stats of goalies in the same GP range as Grubauer over the past 3 years:
Ranta: 92 GP, .924 sv%
Khudobin: 102 GP, .922 sv%
Grubauer: 108 GP, .918 sv%
Saros: 97 GP, .917 sv%
Crawford: 107 GP, .917 sv%
Halak: 125 GP, .915 sv%
Greiss: 101 GP, .912 sv%
Fortunately for us 4 of these guys have signed contracts recently, giving us some idea of present value in a flat-cap world.
Khudobin: $3.33M x 3 (10/2020)
Crawford: $3.9M x 2 (10/2020)
Greiss: $3.6M x 2 (10/2020)
Halak: $2.25M x 1 (5/2020)
The OP's offer above is low for the term given, just as your suggestion is too high for the term given. Reality is somewhere in the middle: $3 - 4M for a 2-3 year term and probably (I'm guessing here as there aren't any comps listed above) $4 - 5M for a 4+ year term.