The Reds and third baseman Edwin Encarnacion have agreed to a two-year contract that will pay at least $7.6 million through the 2010 season.
Encarnacion was the last Cincinnati player in arbitration.
The deal calls for $2 million in 2009 and $4.75 million in 2010, along with an $850,000 signing bonus and performance bonuses of $25,000 for 600 plate appearances.
Reds, Encarnacion Agree On 2-Year, $7.6M Deal