Faulk has one year left on his current contract with a cap hit of $4.83 million and is eligible to sign an extension with the Hurricanes at any time. He's one of several reliable right-handed shots on Carolina's blue line, however, and could thus be deemed expendable if an agreement isn't reached.
The 27-year-old Minnesota native is the longest-tenured member of the Hurricanes with eight seasons in Raleigh, N.C., under his belt.
Faulk suited up in all 82 games for the Hurricanes this past season, notching 11 goals and 24 assists while averaging 22:25 per contest. He added eight points in 15 playoff games during the club's run to the Eastern Conference Final.