The Indians agreed to sign fifth-overall selection Drew Pomeranz on a $2.65MM deal, according to Paul Hoynes of the Cleveland Plain Dealer (Twitter links). The 6'5" left-hander turns 22 this fall. The Rangers drafted Pomeranz in the 12th round of the 2007, but he chose to attend Mississippi instead. Last year MLB recommended a $2.52MM bonus for the fifth-overall selection.
Click here for the complete list of 2010 first-rounders to sign.