The Pirates have agreed to terms with free agent righty Neftali Feliz, Jeff Passan of Yahoo Sports reports on Twitter. The BTI Sports client will receive a $3.9MM guarantee, per Passan, and the contract also includes incentives that could push it to around $4.5MM in total value.

Feliz spent last year with the Rangers and Tigers, who added him after he was designated by Texas. Detroit elected not to tender him a contract last fall, preferring not to commit a projected $5.2MM.

There wasn’t much to like about the 27-year-old’s results last year, as he put up a combined 6.38 ERA over 48 forgettable frames. Metrics valued his actual contributions more in the low-4.00 range, though that is hardly an inspiring output either.

But Pittsburgh has taken a gamble on plenty of high-upside arms in the past, and the still-youthful Feliz looks like another worthwhile project. He’s posted dominant results earlier in his career — though ERA estimators always predicted regression — and still delivers a mid-90s fastball.

Jon Heyman (via Twitter) and Chris Cotillo of SB Nation (Twitter link) added details on the incentives. Cotillo also tweeted that Feliz had changed agents.