FRIDAY: Saunders can earn up to $3.65MM if he makes the club and hits all of the incentives in his contract, according to the Associated Press. Just $250K of Saunders' $500K base salary is guaranteed.

If Saunders makes the roster, his salary will jump to $1.5MM, as previously reported by Heyman. He also receives a $500K bonus for 90 days on the active roster. Saunders will receive an additional $150K for reaching each of 130, 140, 150, 160, 170 and 180 innings. He'll earn $250K for reaching each of 190, 200 and 210 innings. He can also earn between $25K and $100K for various awards bonuses.

WEDNESDAY, 10:00am: Saunders is guaranteed just $500K but will earn $1.5MM, plus incentives, if he makes the Major League roster, according to Jon Heyman of CBS Sports (on Twitter).

9:34am: The Rangers announced today that they have signed left-hander Joe Saunders to a one-year, Major League contract. Financial terms remain in unknown, though reports have indicated that it is a non-guaranteed deal, suggesting that it could be in the mold of Tommy Hanson's one-year, split Major League contract with Texas that pays him a separate salary in the minors should he not make the big league club.

Saunders, 32, promises to add depth to the back of a Texas rotation mix that has increasingly looked in need of it. Derek Holland is going to miss the entire first half, Matt Harrison is still working back from surgery (and had a more recent injury scare), and other options come with a variety of uncertainties.

Working for the Mariners last year, Saunders struggled to a 5.26 ERA in 183 innings. That was the worst full-season mark of his career, however, as the southpaw had thrown at least 174 2/3 innings and posted between a 3.41 and 4.60 ERA over his previous five seasons.

Advanced metrics thought his 2013 season was better than the resuls, as he posted a 4.72 FIP, 4.23 xFIP, and 4.42 SIERA. However, those numbers remain underwhelming, and a look at advanced stats also tends to place a negative spin on some of Saunders' more productive previous years. Indeed, he has never finished a year below the 4.00 line by any of those measures.

The signing was first reported by Evan Grant of the Dallas Morning News. Jon Heyman of CBSSports.com first tweeted that it was a MLB deal, with Joel Sherman of the New York Post tweeting that it was of the non-guaranteed variety.

Steve Adams contributed to this post.