The Yankees have signed right-hander David Herndon to a one-year contract, reports his agent Joshua Kusnick (via Twitter). The split contract will pay Herndon $750K if he makes the Major League roster, plus $50K in possible incentives.
Herndon was claimed by the Yankees earlier this month and, according to a team press release, had elected free agency after he was outrighted to Triple-A. Herndon has a career 3.85 ERA in 97 relief appearances for the Phillies over the last three seasons, though he appeared in just five games in 2012 and underwent Tommy John surgery in June.