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01/19/10 11:39 AM EST

Sanchez, Giants agree on one-year contract

Deal nearly quintuples left-hander's 2009 base salary

SAN FRANCISCO -- The Giants have avoided salary arbitration with Jonathan Sanchez by agreeing to a one-year, $2.1 million deal with the left-hander on Tuesday.

The settlement, initially reported by SI.com, includes performance bonuses and nearly quintuples Sanchez's 2009 base salary, $455,000.

Sanchez, 27, finished the 2009 season at 8-12 with a 4.24 ERA in 32 appearances. After a brief stint in the bullpen to refine his mechanics and recharge his confidence, he emerged to pitch San Francisco's first no-hitter in 33 years, an 8-0 decision over San Diego on July 10.

A member of Puerto Rico's World Baseball Classic squad last year, Sanchez finished fourth in the National League with 9.75 strikeouts per nine innings and a .221 opponents' batting average.

He began the 2009 season as the Giants' No. 5 starter but moved up a notch after Randy Johnson tore his rotator cuff in early July. Beginning with the no-hitter, Sanchez went 6-4 with a 3.46 ERA in his last 16 starts.

The Giants are expected to exchange salary figures later Tuesday with their two most pricey arbitration-eligible performers: ace Tim Lincecum and closer Brian Wilson. The club avoided arbitration with right-hander Brandon Medders by signing him to a one-year, $820,000 contract last week.

Chris Haft is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.