The left-hander's salary will rise to $11 million in 2013, $16 million in 2014, $18 million in 2015 and $20 million in 2016.
Wilson's agreement includes a $2.5 million signing bonus, of which $500,000 is payable within 30 days of approval by Major League Baseball, with a pair of $1 million payments due on July 1 in 2013 and 2014.
Wilson can earn a $150,000 bonus for winning the Cy Young Award, or $75,000 for finishing second or third. He would get a $50,000 bonus for making the All-Star team, $75,000 for winning a Gold Glove, $75,000 if he's league championship series MVP and $100,000 if he's World Series MVP.
He may not be traded without his permission through 2013. After that, Wilson may name eight teams he can't be sent to without his consent.
Wilson also has the right to buy a suite for home games when he pitches, starting at $2,000 a game next year. The price will rise 5 percent annually. He also can purchase eight Diamond Club tickets for all events at Angel Stadium.