The Boston Red Sox has reportedly signed reliever Takashi Saito to a one-year contract with a club option for 2010.

Foxsports.com reported the deal was completed when Saito passed his physical on Friday.

It reportedly includes a guarantee between $1.5 million and $2.5 million, and Saito will have the chance to earn more than $7 million if he reaches all of his incentives.

Saito's incentive-laden deal is similar to the contracts the Red Sox have given to Brad Penny, John Smoltz and Rocco Baldeli over the past week.

The 38-year-old Saito spent the last three seasons as the Los Angeles Dodgers' closer, but missed time last season with a sprained ligament in his elbow. Saito was 4-4 with a 2.49 ERA in 18 saves in 45 games in 2008.

When healthy, Saito has been one of the most dominant relievers in baseball. He went 12-7 with 81 saves and a 1.95 ERA in 172 games over three seasons with Los Angeles.

The Red Sox may use Saito to complement All-Star closer Jonathan Papelbon.