DEC. 15: Barnette’s contract guarantees him $3.5MM over the next two years, reports Wilson (links to Twitter). Barnette will earn $1.5MM in 2016 and $1.75MM in 2017. His club option is valued at $4MM and comes with a $250K buyout, but the option’s value could escalate based on games finished, per Wilson. The Rangers also formally announced the signing today.

DEC. 10, 10:30am: Barnette’s deal also contains a club option for 2018, tweets Jeff Wilson of the Fort Worth Star-Telegram.

9:17am: The Rangers and right-handed reliever Tony Barnette are in agreement on a two-year contract, reports Evan Grant of the Dallas Morning News. Barnette, 32, is a former D-backs farmhand that never broke into the Majors before heading over to Japan and establishing himself as a dominant closer. He is represented by the Wasserman Media Group.

The Rangers will owe a $500K posting fee to Nippon Professional Baseball’s Yakult Swallows as compensation for losing Barnette, which will be in addition to the value of the contract actually issued by Texas. Barnette has a career 3.58 ERA with the Swallows in Japan but is coming off a season in which he posted a pristine 1.29 ERA with 8.0 K/9 against 2.7 BB/9 in 62 2/3 innings of work.