9:34pm: Romo gets $3.5MM in 2013 and $5.5MM in 2014, good for $9MM in total, according to Dan Plesac of the MLB Network (on Twitter).

6:24pm: The Giants announced that they have avoided arbitration with closer Sergio Romo by agreeing to a two-year deal. Romo is represented by Meister Sports Management.

This deal takes care of Romo's remaining arbitration seasons and he will still hit the open market following the 2014 season as planned. With the closer under contract, the Giants now have taken care of all of their arbitration eligible players this winter. Terms of the deal are not yet known. The right-hander filed for $4.5MM while the Giants countered with $2.675MM when figures were exchanged in January.

Romo, 29, posted a 1.79 ERA last season with 10.2 K/9 and 1.6 BB/9 in 69 relief appearances last season. The two sides also dodged arbitration last winter when they agreed to a one-year, $1.575MM deal.