7:42pm: The deal is official now that Colvin has passed his physical, Schulman tweets.
4:34pm: Colvin himself tweets that he has "signed the dotted line."
10:37am: The Giants have agreed to terms outfielder Tyler Colvin, the Mercury News' Alex Pavlovic tweets. Colvin's contract is a minor-league deal, Henry Schulman of the San Francisco Chronicle tweets. Colvin will make $1MM if he makes the team, CBS Sports' Jon Heyman notes. Colvin is represented by Relativity Baseball.
The deal is pending a physical. Colvin had previously agreed to a big-league deal with the Orioles, but the O's backed out of the deal once Colvin took his physical with them, citing back issues.
Colvin, 28, has a career .241/.289/.454 line in 1,167 career plate appearances spread over parts of five seasons with the Cubs and Rockies. The lefty spent much of the 2013 season with Triple-A Colorado Springs, where he hit .275/.377/.480.