In mid-December, the Mets signed Pedro Martinez to a four-year, $53M contract. In addition to a $3.5M signing bonus, the deal sets his salaries at $10M in 2005, $14M in 2006 as well as 2007, and $11.5M in 2008. However, the bonus reportedly will be paid in increments through July of 2007 while $4M of his 2006 as well as his 2007 salary and $2M of the 2008 money will be deferred until an undisclosed date with Martinez receiving 5% compound interest. The contract also includes a number of potential bonuses, including $50,000 incentives for each All-Star appearance, Gold Glove, and LCS MVP as well as $250,000 for each World Series MVP. For each Cy Young Award he wins with the Mets, Martinez will receive $500,000 times the number of CY's he's won with the Mets. A second place CY finish nets him $400,000 while a 3rd place finish garners him $300,000. New York also included a luxury suite for all Shea Stadium home games and a hotel suite for Martinez on the road.