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Breaking Down Jon Lester's Contract

(CBS) We knew the basics of new Cubs left-hander Jon Lester's contract with Chicago last week when news broke that he was signing a six-year deal worth $155 million. Since then, more details have trickled out, including some at Monday's introductory press conference.

For starters, Lester is getting a record $30 million signing bonus, of which $15 million is due by April 1. After that, $2.5 million each is due by Dec. 31 in 2018 and 2019, and a final $10 million installment is due by Sept. 15, 2020.

Here's Lester's year-by-year salary breakdown:

2015: $15 million
2016: $20 million
2017: $20 million
2018: $22.5 million
2019: $22.5 million
2020: $15 million

There is a $25 million mutual option for 2021 with a $10 million buyout, and the option would become guaranteed if Lester pitches 200 or more innings in 2020 or 400 or more in 2019 and 2020 combined.

Lester also gets a hotel suite on the road, a provision that he can't be traded without his consent and the right to 25 hours of private-plane use for him and his family annually.

Information from the Associated Press was used in this report.

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