Mark Sheldon reports on today’s announcement by the Reds that they have signed reliever Nick Masset to a two-year contract to avoid arbitration. No terms for the contract are given. Jared Burton is now the lone Reds arbitration case pending.

Hopefully Masset can continue to perform as he did last season and position himself to take over for closer Francisco Cordero should the Reds become able to dispose of his big contract at the trade deadline.

UPDATE: Masset will earn $1.035 million in 2010 and $1.545 million in ’11 in a deal that also comes with performance-based bonuses.

UPDATE 2: According to the AP:

Masset gets $1,035,000 this season and $1,545,000 next year. He can earn another $300,000 in performance bonuses based on appearances and games finished. Also, his 2011 salary could increase by as much as $780,000 if he reaches certain levels for appearances and games finished this year.