Emmy nominee Eileen Davidson (Ashley Abbott) has been bouncing back and forth between The Young and the Restless and Days of our Lives for the past year. Now, a new contract should keep her in Genoa City for some time.

"They has been reaching out for quite a while and wondering what I wanted, so the deal we made suits my life very well," Davidson told Soap Opera Digest, which first reported the news of her contract. "I'm really happy. I've put in a lot of years in this medium, which I don't take for granted, so I'm very grateful."

Davidson originated the role of Y&R's Ashley in 1982. She remained with the show for four years before taking a two-year break. When she returned to Y&R in 1988, it was on a recurring basis. Eleven years later, Davidson was again signed to a contract. In a surprise move in 2006, Davidson was cut from the Y&R cast. Shortly thereafter, however, Y&R's sister soap, The Bold and the Beautiful, reached out to Davidson, and the actress moved her character from Genoa City to Los Angeles. It wasn't a far move for Davidson; The Bold and the Beautiful tapes just across the hall from The Young and the Restless. In 2008, Davidson was once again back on The Young and Restless, where she remained until 2012.

Davidson will return to the Y&R set later this summer and will first air on Y&R in early September. For fans who just can't get enough of the actress, she will also be appearing simultaneously as Kristen DiMera on Days of our Lives due to that show's production schedule.

What do you think will bring Ashley back to Genoa City? Are you excited that Davidson will be back on the show? Tell us in the Comments section below or share your thoughts via Feedback by clicking here.