It took a year and a half, but James Paxton finally got paid. The Mariners announced the signing of the 2010 fourth round pick and, according to Jim Callis of Baseball America, the deal is worth $942.5K (Twitter links)
The Blue Jays selected Paxton 37th overall in the first round of the 2009 draft, but didn't sign him. The left-hander turned down slot money (approximately $874K), according to Bob Elliott of the Toronto Sun (on Twitter). Paxton spent the 2010 season with the Grand Prairie AirHogs of the independent American Association after the NCAA ruled that he wasn’t eligible to resume his college career at the University of Kentucky.
Though most draftees have to sign by the middle of August, the deadline doesn’t apply to college seniors or players drafted out of independent leagues. ESPN.com's Keith Law first reported that the sides were close to a deal and Geoff Baker of the Seattle Times first reported the agreement.