10:38am: McDaniel reports that the Yankees have indeed agreed to sign Arredondo for $850k. Osuna is "out of the picture," however, as the Yanks added righty Chris Cabrera for $400k.
9:54am: As expected, the Yankees have signed Dominican catcher Gary Sanchez, according to Kiley McDaniel of Baseball Prospectus. Sanchez will receive a bonus of $3MM, but deferred payments bring the present value of the amount closer to $2.8MM. As Ben Badler points out, it's the biggest bonus the Yankees have ever awarded a hitter.