This has been discussed a few times and people seem to have different ideas. One thing I do know is different websites seem to have different answers on the wording.
One thing that does seem to be pretty unanimous is that it is only full NMC's that have to be protected... Which means that only Daniel and Henrik have to be protected. Limited or NTC do not. If that wasn't the case I believe Sutter, Hansen, Edler and Tanev would also have to be protected.... I could be very wrong on this.
Second, players in there first two years do not need to be protected. This one is even more vague but the definition of second pro year counts until the start of their third year of NHL or AHL. So that would mean Virtanen, Hutton, the Tree (depending on KHL eligibility) shouldn't have to be protected.
Also you have two routes of protection, 7 forwards and 3 defenseman or 8 skaters total.
I am be no means an expert but have tried to read up on this a few times because I keep getting different answers. Canucks army seems to have a decent description.... But again it could be just as wrong as all the other sites it contradicts.
http://canucksarmy.com/2016/6/22/nhl-approves-expansion-and-releases-official-expansion-draft-rules