Details on Reyes' contract

LAKE BUENA VISTA, Fla. -- Late Wednesday night, as you might have read, the Phillies and lefthander Dennys Reyes reached an agreement on a contract, pending a physical.

Here are some details on the contract terms, according to a source with knowledge of the negotiations who spoke on the condition of anonymity because the deal has yet to be finalized:

Reyes will make $1.1 million in 2011. There is a mutual option for 2012 for $1.35 million. If Reyes appears in 70 games in 2011, he has the right to exercise the option. If the Phillies decline the option, Reyes receives a $150,000 buyout.

The deal also has numerous performance bonuses. If Reyes reaches the 50- or 55-game mark, he will receive $30,000 each time. A $50,000 bonus triggers each time he reaches three other plateaus: 60, 65 and 70 games.

Some of those bonuses are definitely attainable; Reyes appeared in 59 games in 2010. The two seasons prior to that, he pitched in 75 games each time. Since 2006, Reyes has pitched in an average of 65 games per season.

He made $2 million in 2010, so his base salary represents a pay cut.