Mariners' Iwakuma to receive signing bonus in 3 payments

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SEATTLE (AP) — Pitcher Hisashi Iwakuma will receive his $1 million signing bonus from the Seattle Mariners in three equal payments through 2017 as part of his contract that guarantees $12 million but could be worth up to $47.5 million over three years.

Iwakuma will get installments on Dec. 31 this year and Dec. 1 in each of the following two years.

The 34-year-old right-hander receives a $10 million salary next year under the deal announced last week, and Seattle has $10 million options for 2017 and 2018. Iwakuma would get a $1 million buyout if either option is declined.

The 2017 option would become guaranteed at $14 million if he pitches 162 innings next year, and the 2018 option would become guaranteed at $15 million if he pitches 162 innings in 2017 or 324 combined in 2016 and '17. In every season, he can earn $500,000 each for 150 innings pitched and each additional 10 through 190.

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