Sep 22, 2008 1:48 PM EST

The Pirates and Pedro Alvarez have agreed on a revised four-year contract worth a guaranteed $6.355M, according to a report from the Pittsburgh Post-Gazette on Monday.

The newspaper reported that Alvarez will officially sign the contract following a physical this week.

According to one of the newspaper?s three sources, the grievance hearing against the commissioner?s office will now be dropped.

Via Pittsburgh Post-Gazette