From ESPN Notes:

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Johnson gets a $5.5 million salary next season, and the deal includes a $5.5 million mutual option with a $250,000 buyout. He can earn $1 million annually in performance bonuses: $50,000 each for 400 and 425 plate appearances, $75,000 each for 450 and 475, and $125,000 each for 500 and each additional 25 through 625. The option price would increase to $6 million with 500 plate appearances, $6.5 million with 550 and $7 million with 600. If he has at least 550 plate appearances, the buyout would be $500,000.

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My Two Cents:  I like deals with some incentives in them.  I’m in sales and have worked on commission for a long, long time, so I can appreciate the idea of working harder to make more money.  Sure the money is not “guaranteed” to Johnson, but if he stays healthy he can make up to $1 Million more in 2010, not to mention, more money in a mutual option for 2011.

That being said, I don’t see Johnson in pinstripes beyond 2010.  The Yankees are most likely going to sign Joe Mauer in the 2010 off season, pushing Jorge Posada to DH if he does not retire.