Reinhart's deal is worth $1.6 million while Leipsic's pact is for $1.3 million.
Both restricted free agents were selected by the Golden Knights in last month's expansion draft.
Reinhart collected seven goals, 14 assists and a plus-8 rating in 54 games last season with Bakersfield of the American Hockey League. The 23-year-old, who was the fourth overall pick of the New York Islanders in the 2012 draft, also notched an assist in one playoff game last season with the Edmonton Oilers.
Leipsic recorded 18 goals and 33 assists in 49 games last season with the Toronto Marlies of the AHL. The 23-year-old scored one goal and set up two others in six games last season with the Maple Leafs.