Paul Sullivan of the Chicago Tribune has the financial details on the contract:
Feldman gets one year $6 mi from Cubs w) $1 mil incentives.— Paul Sullivan (@PWSullivan) November 27, 2012
Feldman, 29, spent the last eight seasons pitching for the Texas Rangers, bouncing back and forth between the club’s rotation and bullpen. The right-hander had a contract option with the Rangers for the 2013 season, but the club opted to decline it after Feldman struggled in 2012.
Feldman owns a 4.81 ERA, 3.1 BB/9 rate and 5.4 K/9 rate overall in his eight-year career. Any hopes that the right-hander might perform better outside of Texas should be tempered by a look at his home/road splits, which show that Feldman has actually performed significantly worse away from the Ballpark in Arlington in his career.