Islanders acquire Clutterbuck from the WildNew York also gets Minnesota's third-round pick in exchange for Neiderreiter
The deal was made during the draft Sunday, shortly before New York selected defenseman Ryan Pulock with the 15th selection.
Neiderreiter, the fifth overall selection by the Islanders in 2010, has two goals in 64 career NHL games. He played in the AHL last season.
The 25-year-old Clutterbuck was due to be a restricted free agent in five days.
Clutterbuck was always among the league's leaders in hits. He is an intense player who for a while gave the Wild decent production on the third line. He had 19 goals and 15 assists in the 2010-11 season, but following the lockout this year he scored only four goals in 42 games.