The Orioles have agreed to a one-year, $10.35MM contract with Chris Davis in order to avoid arbitration, reports Jon Heyman of CBS Sports. His deal also contains performance bonuses (Twitter links). Davis is represented by Scott Boras.

Davis had been projected to earn an even $10MM by MLBTR contributor Matt Swartz after he took a massive step forward in 2013. He lands just above that mark with his new deal. As Swartz explained in his breakdown of the Davis arbitration case, the slugging first baseman looked primed to break the record for a second-year arbitration raise, and he did just that by garnering a bump of over $7MM.

It is not hard to see how Davis managed to command such a massive increase. As Swartz explained, arbitration raise are generally determined by reference only to platform-year stats, and Davis had quite the platform year. His massive home run (53) and RBI (138) totals and strong .286 batting average, combined with ample playing time, positioned him perfectly.

Davis has one more season of arbitration eligibility remaining before becoming eligible for free agency before the 2016 season.

Jeff Todd contributed to this post.