The deal came Friday for the 27-year-old Panik, who has been limited by injuries the past three seasons and spent a stint on the concussion list in 2017. San Francisco also announced four others to reach one-year contracts Friday: right-handers Hunter Strickland, Sam Dyson and Cory Gearrin and left-hander Will Smith.
Panik, a 2016 Gold Glover who earned $600,000 last season, batted .288 with 10 homers, 28 doubles and 53 RBIs over 138 games in 2017 as the Giants finished last in the NL West.
He was limited to 127 games in 2016 and dealt with a concussion after a back injury derailed his 2015 season.
Strickland's biggest moment of 2017 came in a punches-throwing brawl with Nationals star Bryce Harper in late May. He went 4-3 with a 2.64 ERA in 68 appearances and will earn $1,550,000 up from $555,000.
Dyson earned a raise to $4,425,000 from $3,520,000.
He closed games down the stretch though manager Bruce Bochy expects Mark Melancon to be back in the ninth-inning role this season. He was 4-10 with a 6.09 ERA for Texas and San Francisco. The Giants acquired him from the Rangers in June and Dyson was 3-4 with a 4.03 ERA and 14 saves afterward.
Gearrin, who went 4-3 with a 1.99 ERA in 68 outings covering 68 innings, goes from a $1,050,000 salary to $1,675,000 for this coming season.
Smith missed the entire 2017 season after undergoing Tommy John surgery. He will make $2.5 million for a second straight year.
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