10:24am: Troy Renck of the Denver Post has the breakdown:
$2MM in 2009; $4.5MM in 2010; $6.5MM in 2011 with club option 2012 for $10.65MM or $1.25MM buyout. His $1.5MM signing bonus is payable between March 2009 and July 2009. His base salary in 2010 increases by $200K for All Star in 2009; $200K for GoldGlove in 2009; $100K for Silver Slugger in 2009. His base in 2011 increases by $200Kfor All Star in 2010; $200K for Gold Glove in 2010; $100K for Silver Slugger in 2010. His base in 2012 increases by $300K for All Star in 2011; $300K for Gold Glove in 2011; $150K for Silver Slugger in 2011.
9:58am: The AP says McLouth's deal is worth $15.75MM over three years.
6:49am: According to Dejan Kovacevic of the Pittsburgh Post-Gazette, the Pirates have agreed to a three-year contract with Nate McLouth, avoiding arbitration. There is a team option for 2012. No other details are available at this time.
McLouth was eligible for arbitration for the first time this offseason. This deal buys out all three arbitration years and gives the Pirates control of McLouth's first season of free agency.