6:48pm: Adam McCalvy of MLB.com reports (via Twitter) that Perez can top out at $3MM if he hits all of the incentives in his contract. Tom Haudricourt of the Milwaukee Journal-Sentinel tweets that $1.5MM of that will be his base salary upon making the club, and the deal has another $1.5MM worth of incentives based on games finished.

6:16pm: The Brewers announced that they have signed right-hander Chris Perez to a minor league contract with an invitation to big league Spring Training. Perez, formerly the closer for the Indians, will compete for a spot in the Milwaukee bullpen.

The 29-year-old Perez spent the 2014 season with the Dodgers, where he worked to a 4.27 ERA in 46 1/3 innings. However, despite moving back to the National League — he originally came up with the Cardinals — Perez posted the second-worst K/9 rate of his career (7.6) as well as his worst BB/9 rate to date (4.9).

Perez has struggled to a 4.31 ERA over the past two seasons — a span of 100 1/3 innings — but he was generally more effective during his 2010-12 peak with Cleveland. In that time, Perez totaled a 2.84 ERA and made a pair of All-Star teams while saving 98 games. As Tom Haudricourt of the Milwaukee Journal-Sentinel notes (on Twitter), the Brewers have been looking for a reliever with closer experience, and Perez certainly fits that bill with a low cost of acquisition.

Presumably, the signing of Perez doesn’t preclude the Brewers’ search to add to their 40-man roster, however. Milwaukee has been linked on and off to Jonathan Papelbon over the past two weeks, and they’re also said to be interested in a reunion with Francisco Rodriguez, who has been with Milwaukee for parts of the past four seasons.