Pence avoided arbitration and made a good amount of money. (US Presswire)

Friday at 1 p.m. ET was the deadline for eligible players to avoid the need to exchange arbitration figures with their current ballclub, so there was an unbelievable mass of signings that took place. The biggest payday went to Hunter Pence of the Giants, as he agreed to a one-year, $13.8-million deal.

For those curious and/or interested, here's what arbitration is all about -- keep in mind the most important part here is that these players were not free agents:

What's salary abitration? Players with between three years (or two years in some cases) and six years of major-league service time are eligible to have salary disputes settled by a panel of arbitrators. It's a binding process, which means the arbitrators pick either the salary submitted by the player or the salary submitted by the team -- no splitting the difference or plucking a figure out of the ether -- based on the arguments presented. As well, both team and player are bound to abide by the arbitrators' ruling. It's not free agency, of course, as players remain under team control until they have six years of service time (or are released, obviously), but it's their first taste of contractual empowerment.

As a consequence of all this, players enjoy a huge jump in salary during their arbitration years, and the curious nature of the process gives both sides incentive to negotiate a deal long before they reach that point.

Teams and players will exchange arbitration figures on Jan. 18, and arbitration hearings take place from Feb. 4-20, but the two sides can strike a deal at any point up until their hearing begins -- even after they exchange numbers and even as they're outside the hearing room waiting for their scheduled turn. According to the MLBPA, roughly 90 percent of arb-eligibles reach agreement in advance of a hearing.

Click here to see Thursday's agreements. And now here are Friday's, with as much information as we know (and it will be updated when we know more):

Source is CBSSports.com senior writer Jon Heyman.

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  • Matt Albers, RP, Indians: One year, $1.75M
  • Alex Avila, C, Tigers: One year, $2.9M
  • John Axford, RP, Brewers: One year, $5M plus possible bonuses
  • Burke Badenhop, RP, Brewers: One year, $1.55M
  • Andrew Bailey, RP, Red Sox: Agreed to terms
  • John Baker, C, Padres: One year, $930,000
  • Daniel Bard, RP, Red Sox: Agreed to terms
  • Antonio Bastardo, RP, Phillies: One year, $1.4M
  • Gordon Beckham, 2B, White Sox: One year, $2.925M
  • Ronald Belisario, RP, Dodgers: One year, $1.45M
  • Roger Bernadina, OF, Nationals: Agreed to deal
  • Gregor Blanco, OF, Giants: One year, $1.35M
  • Jerry Blevins, RP, Athletics: One-year deal
  • Brennan Boesch, OF, Tigers: One year, $2.3M
  • Mitchell Boggs, RP, Cardinals: One-year deal
  • Emilio Bonifacio, IF/OF, Blue Jays: One year, $2.6M
  • Tyler Clippard, RP, Nationals: Agreed to terms
  • Phil Coke, RP, Tigers: One year, $1.85M
  • Tyler Colvin, OF, Rockies: One-year deal
  • Chris Davis, 1B/RF/DH, Orioles: One-year deal
  • Alejandro De Aza, OF, White Sox: One year, $2.075M
  • Ian Desmond, SS, Nationals: One year, $3.8M
  • Ross Detwiler, SP, Nationals: One year, $2.3375M plus possible bonuses
  • Brian Duensing, P, Twins: One year, $1.3M
  • A.J. Ellis, C, Dodgers: One year, $2M
  • Jacoby Ellsbury, CF, Red Sox: One year, $9M
  • Marco Estrada, P, Brewers: One year, $1.955M
  • Doug Fister, SP, Tigers: One year, $4M
  • Sam Fuld, OF, Rays: One year, $725,000
  • Joel Hanrahan, RP, Red Sox: One year, $7.04M
  • Tommy Hanson, SP, Angels: One year, $3.725M
  • J.A. Happ, P, Blue Jays: One year, $3.7M
  • Matt Harrison, SP, Rangers: Five years, $55M
  • Jason Heyward, OF, Braves: One year, $3.65M
  • Luke Hochevar, SP, Royals: One-year deal
  • Phil Hughes, SP, Yankees: One year, $7.15M
  • Austin Jackson, CF, Tigers: One year, $3.5M
  • Chris Johnson, 3B, Diamondbacks: One-year deal
  • Garrett Jones, 1B/OF, Pirates: Agreed to terms
  • Ian Kennedy, SP, Diamondbacks: One year, $4.265M
  • Boone Logan, RP, Yankees: One year, $3.15M
  • Wilton Lopez, RP, Rockies: One year, $1.7625M
  • Jed Lowrie, SS, Astros: One year, $2.4M plus possible bonuses
  • Lou Marson, C, Indians: One year, $1M
  • Cristhian Martinez, RP, Braves: One-year deal
  • Justin Masterson, SP, Indians: One-year deal
  • Brian Matusz, P, Orioles: One-year deal
  • Kris Medlen, SP, Braves: One-year deal
  • Jose Mijares, RP, Giants: One year, $1.8M
  • Andrew Miller, RP, Red Sox: Agreed to terms
  • Franklin Morales, RP, Red Sox: Agreed to terms
  • Kendrys Morales, 1B, Mariners: One year, $5.25M
  • Brandon Moss, 1B, Athletics: One-year deal
  • Edward Mujica, RP, Cardinals: One-year deal
  • Jeff Niemann, SP, Rays: One year, $3M
  • Bud Norris, SP, Astros: One year, $3M
  • Eric O'Flaherty, RP, Braves: One year, $4.32M
  • Josh Outman, P, Rockies: One year, $675,000
  • Bobby Parnell , RP, Mets: One year, $1.7M
  • Troy Patton, P, Orioles: One year, $815,000 plus possible bonuses
  • Hunter Pence, OF, Giants: One year, $13.8M
  • Chris Perez, RP, Indians: One year, $7.3M plus possible bonuses
  • Rick Porcello, SP, Tigers: Agreed to terms
  • Buster Posey, C, Giants: One year, $8M plus possible bonuses
  • Ryan Roberts, IF, Rays: One year, $2.95M
  • James Russell, RP, Cubs: Agreed to terms
  • Brendan Ryan, SS, Mariners: One year, $3.25M
  • Jarrod Saltalamacchia, C, Red Sox: One year, $4.5M
  • Jeff Samardzija, SP, Cubs: One year, $2.64M
  • Gaby Sanchez, 1B, Pirates: One year, $1.75M plus possible bonuses
  • Joe Smith, RP, Indians: One year, $3.15M
  • Craig Stammen, RP, Nationals: Two years, $2.25M
  • Drew Stubbs, OF, Indians: One year, $2.825M
  • Joe Thatcher, RP, Padres: One year, $1.35M
  • Josh Thole, C, Blue Jays: Two years, $2.5M
  • Jason Vargas, SP, Angels: One year, $8.5M
  • Jonny Venters, RP, Braves: One year, $1.625M
  • Edinson Volquez, SP, Padres: Agreed to terms
  • Ryan Webb, P, Marlins: One year, $975,000
  • Matt Wieters, C, Orioles: One year, $5.5M
  • Jerome Williams, P, Angels: One year, $2M
  • Wesley Wright, RP, Astros: One-year deal
  • Brad Ziegler, RP, Diamondbacks: One-year deal

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