My suspicion is that it starts as a two-way contract, but that Auld is traded early in the season, one there is a good feel for what Leclaire can do. About 25 games should do it.
This would also give Elliot more ice time, and he could sort out the last few little things that remained in his game, under less pressure, and then with Auld gone, he can come up, and they can tandem 2:1 to keep Leclaire healthy.
Any trade involving Auld would have to involve a minor league goalie, though, unless Murray drafts a decent goalie, as Ottawa has SFA in the farm system...