After pitching in Japan for two seasons, then signing with the Texas Rangers, Colby Lewis won a dozen games in 2010 and 14 more in 2011. This season, though, he won only six games before going on the Disabled List in June, coming back in July for one start, then undergoing season-ending elbow surgery. He's not expected back in action until sometime next spring or summer.
Nevertheless, Lewis, eligible for free agency after this season, has instead signed a one-year contract extension for 2013. According to MLB.com's T.R. Sullivan: "Terms of the contract are a $2 million dollar base salary with $4 million dollars worth of incentives."
Lewis earned $3.25 million this season, so he'll receive a nice raise if he's healthy enough to pitch next season. With current Texas starters Ryan Dempster, Roy Oswalt and Scott Feldman all heading for free agency this winter, the Rangers will need starting pitchers next year, and they're obviously hoping Lewis can make a nice comeback.