The Rockies and reliever Rafael Betancourt have agreed to terms on a contract extension, according to a source. The deal will become official when Betancourt undergoes a physical, which will occur when Colorado opens spring training. Betancourt, who was already signed for $3.77 million for 2011, will earn $4 million in 2012 and could guarantee a salary of $4.25 million if both parties execute an option for 2013.