The contract has an option year that could make the deal worth $9.5 million over three years.
The team holds an option year for about $3.5 million the following season.
He is also in the option year of his contract.
"A number of contracts are up or in their option year."
The total comes to $30 million if option years are included.
He began this season on the option year of last year's contract and was to be paid $185,000.
The Yankees can buy out the option year for $200,000.
The deal included a mutual $3 million option year in 2003.
It has one season to go, plus an option year.
Next season will be the option year of his pact.