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Jon Lester’s Contract Terms

03.15.09 at 5:00 pm ET
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According to a major-league source, Jon Lester‘s five-year, $30 million deal breaks down as follows:

ANNUAL SALARIES

2009 – $1,000,000
2010 – $3,750,000
2011 – $5,750,000
2012 – $7,625,000
2013 – $11,625,000
2014 (club option) – $13,000,000
Buyout – $250,000

Lester’s contract follows fairly closely the four-year, $30 million deal (with a $13 million option) signed by Angels starter Ervin Santana. The value of Lester’s three arbitration years in the contract is $17.125 million, though that’s slightly misleading, since the $1 million that Lester will receive for the coming year (as a pre-arbitration-eligible pitcher) is substantially more than he would have received in a one-year deal.

INCENTIVES

Here are the potential incentives attached to the deal:

All Star game: $50,000

Cy Young Award: 1st place $100,000, 2nd place $75,000, 3rd place $50,000

MVP: 1st place $100,000, 2nd place $75,000, 3rd place $50,000

World Series MVP: $100,000

LCS MVP: $50,000

OPTING OUT OF THE OPTION

The contract also includes a unique voiding mechanism for the 2014 option in case Lester gets traded: if Lester finishes first or second in Cy Young Award voting in any guaranteed year of the contract (from 2009 through 2013), the 2014 club option will be voided if he is traded.

Read More: Contract, Jon Lester,
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