1:42pm: Reed obtains a $1.589MM bonus, according to Jon Heyman of SI.com (on Twitter). That appears to be slightly over slot.
1:28pm: Dodgers assistant GM Logan White officially announced the signing.
7:23am: The Dodgers have agreed to terms with 16th overall pick Chris Reed, according to AJ Cassavell of MLB.com. Terms of the deal are not known for Reed, a Scott Boras client. The commissioner's office recommended a bonus of $1.512MM for the 16th overall selection last year, according to Baseball America.
The 6'5" left-hander posted a 1.80 ERA in 45 innings of relief as a junior at Stanford last year. However, the Dodgers see him as a starter in the Major Leagues, Cassavell reports. Be sure to track every top pick's status with MLBTR's list.