8:02pm: The contract is non-guaranteed, tweets Henry Schulman of the San Francisco Chronicle, meaning Hensley will have to win a job in Spring Training.
7:34pm: The Giants have agreed to terms with reliever Clay Hensley on a Major League contract, according to Jerry Crasnick of ESPN, who adds the deal is worth $750K in base salary with an additional $300K at stake in incentives (Twitter links).
Hensley, 32, became a free agent when he was non-tendered by the Marlins in December. He was projected to earn $1.4MM in his second trip through arbitration, a price tag that Miami was apparently uncomfortable with.
In 466 1/3 career innings with the Padres and Marlins, the right-hander has posted a 3.94 ERA and 1.35 WHIP, spending some of that time as a starter. His best season out of the bullpen came in 2010 with the Fish, when he posted a strong 9.24 K/9, 3.48 BB/9 and 53.4% GB rate.
For all you trivia buffs, Hensley served up Barry Bonds' 755th career homer, which tied the slugger with Hank Aaron on the all-time leaderboard.