6:53pm: Callis also tweets that the Phillies have signed their second-round pick Dylan Cozens, while Matt Gelb of the Philadelphia Inquirer adds (via Twitter as well) that they've signed all three of their top picks at slot value. That means in addition to Watson and Cozens, Philadelphia has inked supplemental rounder Mitch Gueller (No. 54 overall).
Gueller, a prep right-hander out of Washington will receive $940,200. The Phillies received the 54th pick as compensation for losing Raul Ibanez. Cozens, a prep outfielder out of Arizona, will receive $659,800. Callis touts his athleticism and power.
6:08pm: The Phillies have agreed to terms with supplemental first round pick Shane Watson, according to Jim Callis of Baseball America (on Twitter).
Watson, a right-hander out of Lakewood High School in California, will receive full slot as the 40th overall pick — a bonus of $1,291,300. The Phils received the pick as compensation for losing Ryan Madson to the Reds. According to Callis, Watson can touch 96mph with his heater and also features a plus curveball.