Jon Heyman of FanRag Sports says Carter will earn $1.75 million plus $600,000 in incentives if he reaches the majors.
The Angels have added Carter to help replenish their depth at first base after they traded CJ Cron to the Rays on Saturday for a player to be named later.
Carter struggled mightily last season with the Yankees after having a breakout 2016 season with the Brewers in which he smacked a National League-best 41 home runs with 94 RBI. The 31-year-old first baseman hit only eight homers with 26 RBI while slashing .201/.284/.370 in 208 plate appearances in 62 games before being released by New York. Carter was picked up by the Athletics in July, but never saw the field for them and was granted free agency after the season.
Carter has played eight seasons in the majors and also spent time with the Astros and Athletics. The 6-foot-4, 245-pound slugger has 148 homers and 400 RBI for his career, but has a slash line of .217/.312/.456 and has struck out 951 times, include a pair of 200-plus strikeout seasons in 2013 and 2016.