Floyd can make an additional $1 million in bonuses based on days on the active roster: $500,000 for 90, and $250,000 each for 120 and 140.
A 12-year veteran who has also pitched for Philadelphia, the Chicago White Sox and Atlanta, Floyd made seven relief appearances with Cleveland last season, missing significant time with a fractured elbow for the second straight year. He had no record and a 2.70 ERA.
Also Saturday, the Blue Jays hired former Cleveland and Seattle manager Eric Wedge as Player Development Advisor. The move reunites Wedge, the 2007 American League Manager of the Year with Cleveland, with Blue Jays president Mark Shapiro and GM Ross Atkins, both former colleagues with the Indians.
While with Seattle, Wedge missed 28 games following a stroke in July 2013. He left the team at the end of the season.
To make room for Floyd, the Blue Jays designated right-hander Chad Jenkins for assignment.