Aug 31, 2009 3:51 PM EST

Right-hander Brad Penny cleared waivers Monday and will sign with the Giants, sources said, according to an ESPN.com report.

Penny is 7-8 with a 5.61 ERA this season, and 101-83 in his career. He will make a prorated minimum salary with the Giants, and is expected to join their rotation as the team's fifth starter.

Via ESPN