Jan 15, 2007 6:34 PM EST

The Astros inked Mike Lamb to a one-year contract worth $2.7 million on Monday, avoiding arbitration with the 31-year-old outfielder.

The contract also includes an incentives package. In his three years with the Astros, Lamb has proven himself to be one of the most valuable left-handed bats off the bench, and he also provides insurance at third base, as well as first.

Via mlb.com