The amount agreed upon is the midway point between the arbitration figures the two sides had filed.
The Cubs on Thursday also officially announced the signing of Kevin Millar to a minor league contract with an invitation to spring training.
Marmol, 27, was 2-4 with 15 saves and a 3.41 earned-run average in 2009. He also led the Cubs with 27 holds despite moving into the closer's role on Aug. 18. Marmol went 11 for 11 in save opportunities from that point on.
He limited opponents to a .170 batting average, third-lowest in baseball among qualifying relievers. He allowed only two homers in 74 innings.
The only arbitration case remaining for the Cubs is shortstop Ryan Theriot. According to sources, Theriot and the Cubs will go through the process of arbitration. That trial will take place between Feb. 8-20 in St. Petersburg, Fla.
Bruce Levine covers baseball for ESPNChicago.com.