8:13pm: William Ladson of MLB.com (via Twitter) has received confirmation from the Nats.
While the base salary is just $1MM, Crasnick says that the deal could jump to nearly $4MM if he makes 33 starts. Olsen made just 11 starts last season after undergoing season-ending shoulder surgery. However, the soon-to-be 26-year-old made exactly 33 starts in 2007 and 2008 and 31 starts in '06.
In the aforementioned healthy seasons he spent with Florida, Olsen recorded an ERA of 4.65 with 6.6 K/9.
Last winter, Olsen avoided arbitration with the team by inking one-year, $2.8MM deal with the Nats. The figure was closer to Washington's side as they were set to submit $2.5MM and he was seeking $3.5MM.