Two-time NL Cy Young Award winner Tim Lincecum and the San Francisco Giants reached a verbal agreement Tuesday on a two-year contract worth $40.5 million.
The deal includes a $500,000 signing bonus and salaries of $18 million this year and $22 million in 2013, a person familiar with the agreement said Tuesday, speaking on condition of anonymity because the terms were not announced.
Lincecum had asked for a near-record $21.5 million in salary arbitration and had been offered $17 million by the club. He remains eligible for free agency following the 2013 season.
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