4:24pm: The deal is non-guaranteed, a source tells Paul Sullivan of the Chicago Tribune. The Cubs will be off the hook for the $2MM deal if he is released in spring training.
3:32pm: The Cubs are set to re-sign third baseman Ian Stewart, sources tell Jerry Crasnick of ESPN.com (via Twitter). It's a one-year, $2MM deal for the Reynolds Sports Management client, tweets Bob Nightengale of USA Today. The deal also includes $500K of incentives.
The 27-year-old is said to be back to full health after playing with a broken bone in his wrist for the last two years. During that stretch, Stewart has had a .183/.272/.289 slash line with five home runs in 338 total plate appearances. Before the injury, Stewart owned a career .245/.332/.451 slash line in four seasons with the Rockies.