The Braves and third baseman Chipper Jones have agreed to terms on a three-year contract extension worth more than $40 million. The extension also includes an option for the 2013 season. The team will officially announce the extension on Tuesday, and the pact will allow Jones to play in Atlanta through his 41st birthday. "I lump myself into the category of being the John Smoltz-type of athlete," Jones said in January. "When I'm done playing, I'm not going to bulk up to 250 pounds. I work out and do stuff to keep myself in shape year-round. I think I'm going to be as productive at 40 as I am now. You're not going to be as spry in the legs as you were when you were 25, but you can still be productive."

Right-hander Gavin Floyd and the White Sox agreed Sunday to a $15.5M, four-year contract, a deal that includes a club option for 2013, according to an Associated Press report. Floyd was 17-8 with a 3.84 ERA for the White Sox last year and is 25-18 in 73 games over parts of five big league seasons with the Phillies and White Sox.

Right-hander Gavin Floyd and the White Sox agreed Sunday to a $15.5M, four-year contract, a deal that includes a club option for 2013, according to an Associated Press report. Floyd was 17-8 with a 3.84 ERA for the White Sox last year and is 25-18 in 73 games over parts of five seasons with the Phillies and White Sox.

Veteran catcher Ivan Rodriguez has agreed to a one-year, $1.5M contract with the Astros, a source told ESPN's Steve Phillips on Monday. Rodriguez can make an additional $1.5M in performance bonuses.

Relief pitcher Duaner Sanchez agreed to a minor league contract with the Padres on Sunday, five days after he was released by the Mets, according to an Associated Press report. Sanchez was cut by the Mets after failing to regain form following two shoulder operations.

Jon Lester followed in the footsteps of teammates Dustin Pedroia and Kevin Youkilis by signing a long-term contract with the Boston Red Sox the team announced today. He and the Red Sox have agreed to a five-year contract, with a club option for 2014. Last year was a breakthrough season for the 25-year-old left-hander, who went 16-6 with a 3.21 ERA over 210 1/3 innings. He kicked it up another notch in the postseason, particularly in the AL Division Series, when he fired 14 innings and didn't allow an earned run against the Angels. The individual highlight of 2008 for Lester came on May 19, when he threw a no-hitter against the Kansas City Royals. In his career, Lester is 27-8 with a 3.81 ERA in 60 starts.

Unable to come to terms on a long-term extension, the Red Sox have agreed to terms on a one-year deal with pitcher Jon Lester. Boston reached similar agreements with 18 other players on Tuesday. The others included pitchers Michael Bowden, Clay Buchholz, Manny Delcarmen, Felix Doubront, Miguel Gonzalez, Devern Hansack, Hunter Jones, Wes Littleton, Justin Masterson and Ramon Ramirez.

The Orioles have signed pitcher Jeremy Guthrie to a one-year contract worth $650,000 for the 2009 season. Guthrie led Baltimore's starting staff in wins, ERA and strikeouts in 2008, and took a $120,000 pay cut. "He's so much higher-paid than the normal service time, and it's a function of his signing bonus," Orioles president of baseball operations Andy MacPhail said.

Jon Lester has signed a five-year, $30 million contract extension with the Red Sox, which includes a $13 million team option for the 2014 season. The deal is contingent on Lester passing a physical Tuesday. It's the largest deal that a pitcher with two years of service time in Major League Baseball has signed.

The Twins have agreed to terms on a four-year deal with pitcher Scott Baker worth $15.25 million. Baker went 11-4 with a 3.45 ERA in a career-best 28 starts last season. The pact also includes a $9.25 million club option for the 2013 season.