The Cubs and free agent outfielder Nate Schierholtz have agreed to a one-year deal worth a guaranteed $2.25M, a source said Wednesday.

Schierholtz can earn an additional $500,000 in performance bonuses, the source said.

Schierholtz, 28, is a .270 career hitter with a .727 OPS over six seasons with the Giants and Phillies.

The Rays, Red Sox, Orioles, Yankees, and Mets were among the other teams that had expressed interest in Schierholtz.