7:09pm: Joel Sherman of The New York Post reports (on Twitter) that any incentives Aardsma earns in 2012 will increase the base salary of his 2013 option by the same amount.

11:21am: The Yankees have signed 30-year-old right-hander David Aardsma, the team announced. It's a Major League deal worth $500K that includes a club option for 2013. The deal includes $500K in incentives and the 2012 option is worth $500K, Geoff Baker of the Seattle Times tweets. Aardsma underwent Tommy John surgery last July and won't be ready to contribute until midway through the 2012 campaign.

Aardsma last pitched in the Major Leagues in 2010, when he saved 31 games as the Mariners' closer, posting a 3.44 ERA with 8.9 K/9 and 4.5 BB/9 in 49 2/3 innings. He has a 4.20 ERA with 9.1 K/9 and 5.0 BB/9 in parts of six MLB seasons.

MLB.com's Bryan Hoch and Mark Feinsand of the New York Daily News first reported the deal.