The Mets and Jason Bay have agreed to terminate the final two years of the player's contract, making him an unrestricted free agent.

Financial terms of the agreement were not revealed.

"I still feel I have plenty to give to this game and that I can play baseball at a high level. But after serious consideration, both sides agree that we would benefit from a fresh start," Bay said in a statement. "I'm grateful we were able to reach an agreement to allow that to happen."

Bay signed a four-year, $66 million contract with the Mets in January 2010.