12:45pm: Carbonell will earn $1MM in a signing bonus, according to Henry Schulman of the San Francisco Chronicle (Twitter link). He’ll earn $500K, $525K, $550K and $600K in each respective year of the four-year contract, and at least the first year of the deal is a split contract.

Also from Schulman (Twitter links), Giants VP/assistant GM Bobby Evans said that Carbonell is “more of a project” than other high-profile Cuban outfielders such as Yasiel Puig and Yoenis Cespedes. The club doesn’t expect Carbonell to reach the majors in 2014.

12:10pm: The Giants have signed Cuban outfielder Daniel Carbonell to a Major League contract, the club announced. Carbonell will earn a guaranteed $3.5MM in the four-year deal, MLB.com’s Jesse Sanchez reports, and the 23-year-old outfielder can earn another $3.5MM in bonuses. Because he signed before July 2, Carbonell’s bonus will not count against San Francisco’s international draft pool. Carbonell is represented by the Culture 39 agency.

Carbonell was rumored to be choosing between five suitors who were offering contracts of five-to-seven years in length, though he managed to find his desired four-year deal in taking the Giants’ offer. The 6’3″, 196-pound Carbonell is now on the Giants’ 40-man roster and he’ll report to camp in Arizona once he obtains his work visa, the team said.

In his most recent season for Camaguey, Carbonell hit .298/.369/.449 with five homers, 40 runs scored and 28 steals (in 29 attempts) over 223 PA. Baseball America’s Ben Badler has the scouting breakdown on Carbonell, with talent evaluators praising his speed and defensive potential, though his hitting is very raw.