Jeter, Yankees agree on a deal...

[Auggie]

... (according to "Sources")

espnnewyork.com / 12-4-2010

NEW YORK -- Derek Jeter agreed to a new contract with the New York Yankees on Saturday afternoon, a source with knowledge of the negotiations said.

According to an official with knowledge of the contract, the guaranteed portion is $51 million over three years, which includies a three million buyout for the fourth year. If Jeter declines the buyout and continues for the fourth season, he still receives the $3 million, plus another $5 million to put the total at $56 million.

He can make another $9 million in incentives. The incentives are defined as points. Jeter will earn a million dollars for each point he earns.

Jeter can earn the points by finishing in the top six in the MVP voting or winning a Gold Glove, a Silver Slugger, a regular season MVP, an ALCS MVP or a World Series MVP. If Jeter were to earn nine points, his incentives would be capped at $9 million. Some of the awards are worth multiple points thus multiple millions.

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