Feb 5, 2012, 9:32 AM EST
The deal also carries $100K worth of incentives.
Aceves requested $1.6 million and was offered $950,000 from the Red Sox when arbitration figures were exchanged last month. It took several weeks, but the two sides have found a middle ground.
The 29-year-old will get a shot at a rotation spot this spring after posting an impressive 2.61 ERA across 114 innings (four starts, 51 relief appearances) in 2011. He’s under contract control through the 2014 season.
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