In exchange, McGee agreed to an incentive-laden deal based on him staying healthy and playing. Without going into detail, McGee's agent, Ron Raccuia, disclosed the nature of the restructured contract agreed to on Wednesday.
The nine-year veteran was scheduled to make a base salary of $3.6 million this season, and $4.6 million next year.
Injuries last year forced him to miss nine games, including the final six after he had surgery on his left knee. In 2010, McGee was limited to playing nine games because of a knee injury.