The Seattle Mariners and first baseman Justin Smoak reached agreement on a one-year, $2,637,500 million contract for the 2014 season with a team option for 2015.

Smoak was the Mariners' last arbitration-eligible player. If the option is exercised for 2015, Smoak could make $3.65 million.

The option year has several bonuses and escalators based on his 2014 performance and includes a $150,000 buyout. The contract would become guaranteed for 2015 with 525 plate appearances or MVP, All-Star or Silver Slugger awards.

The 27-year-old Smoak batted .238 last season after slumping in the final six weeks of the season and hit a career-best 20 homers.