Per a source with knowledge of the deal, Kelly’s two-year contract has a total value of $5 million, or an average of $2.5 million per year.
The only guarantee comes from a $1 million signing bonus. In 2013, he’ll also earn a $950,000 base salary, along with a $500,000 roster bonus and a $50,000 workout bonus.
In 2014, the base salary climbs to $1.95 million, along with another $500,000 roster bonus and another $50,000 workout bonus.
The cap numbers are $2 million this year and $3 million in 2014. And so it’s yet another low-dollar deal for an established veteran player.