In exchange, Chicago sent New York defenseman Darren Raddysh.
Holland, 28, will report to the AHL Rockford Icehogs. He has 85 points across 266 career games in the NHL and has been playing in the AHL this season, recording 49 points (20 goals, 29 assists) in 52 games for the Hartford Wolf Pack. His contract runs through the end of this season, with an average annual value of $675,000.
Raddysh, 22, had 26 points (eight goals, 18 assists) in 54 games for Rockford this season.