Rodriguez is 41-36 with a 2.70 ERA and 304 saves in 730 relief appearances with the Angels, Mets, Brewers and Orioles.
K-Rod could earn another $550,000 in bonuses. The contract includes a $100,000 bonus for 55 innings pitched and incentives for games finished: $50,000 each for 15 and 20 games; $75,000 for 25 and 30 games; and $100,000 each for 35 and 40 games.
Rodriguez's 62 saves with the Angels in 2008 are a single-season record and his 304 career saves are tied for 21st all-time with Jeff Montgomery.
He should start the season as a setup man for Jim Henderson.
To make room for Rodriguez on the 40-man roster, the Brewers designated right-handed pitcher Donovan Hand for assignment.
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