The New York Yankees have agreed to terms on a one-year contract with right-handed pitcher Cory Wade, according to Jon Paul Morosi of FOX Sports. Morosi reports it's a non-guaranteed deal worth roughly $500K if Wade spends the entire season at the majors.

Wade, 28, was a great under-the-radar signing for the Yankees last season. After being cut by the Rays, the Yankees picked him up on a minor league deal and saw the reliever pitch well throughout the season. The 28-year-old posted a 2.04 ERA across 39 2/3 innings of work with a fantastic 3.75 strikeout-to-walk ratio.

• Twitter / @jonmorosi: Cory Wade, who fell just shy of salary arbitration, agrees with #Yankees on non-guaranteed deal worth roughly $500k on ML side, source says.

While the Yankees don't expect Wade to put up those numbers again, they aren't taking a risk by signing him to a non-guaranteed deal. And if he can even post similar numbers again, he'll be more than worth the $500K salary.