Sources: Pedro's deal incentive-laden

The Philadelphia Phillies are guaranteeing Pedro Martinez less than $1 million for the rest of this season, according to two baseball sources familiar with his contract. However, Martinez could make another $1.275 million if he spends the final 60 days of the season on the active roster, makes 15 starts for the Phillies and pitches between 75 and 100 innings.

Perhaps the most interesting part of Martinez's contract is that it builds in the option for the Phillies to use him as a reliever, as well as a starter. While Martinez told the club he prefers to start, his contract is structured with incentives that would pay him an extra $250,000 if he makes 25 relief appearances.

Martinez's deal also contains potential award bonuses of $100,000 if he is named World Series MVP, $50,000 if he is the NLCS MVP and $100,000 if a couple months of brilliance win him a comeback-player-of-the-year award.

Martinez's contract, which is heavily incentive-based, is structured this way:

• His salary for the season is a prorated $2 million, which computes to approximately $900,000 for the rest of the year.

• He then would receive a bonus for each start, beginning with his sixth start as a Phillie. He would get $75,000 per start for his sixth through 10th starts and $100,000 per start for his 11th through 15th starts.

• If Martinez is used as a reliever instead, he would receive $50,000 each after his 10th, 15th, 20th and 25th relief appearances.

• He also has incentives based on days spent on the active roster (i.e., not on the disabled list). He would get $50,000 apiece after his 15th, 30th, 45th, 60th and 75th days on the roster. However, his current stay on the disabled list until the end of July would make it impossible for him to spend 75 days on the roster.

Martinez is currently rehabbing at the Phillies' minor league complex in Clearwater, Fla. The club announced Monday that he had been cleared to pitch a simulated game Tuesday against Phillies minor leaguers in Clearwater. His schedule beyond that is uncertain.

Jayson Stark is a senior writer for ESPN.com.