The San Francisco Giants and reliever Santiago Casilla have reached an agreement on a three-year contract extension, the team announced Monday night.
The deal is worth $15 million, and it includes a vesting option for a fourth year.
Casilla, 32, had a 7-6 record and a 2.84 ERA in 2012, and he became the Giants' closer after the team lost Brian Wilson to Tommy John surgery early in the season.
Casilla had 25 saves in 31 opportunities, but he was taken out of the closer role later in the season.
He is expected to be a setup man for Sergio Romo in 2013.