Two-time All-Star catcher J.T. Realmuto and the Philadelphia Phillies finalized their $115.5 million, five-year contract on Friday. Here are the highlights:

• Realmuto is scheduled to speak to reporters on Monday.
• Realmuto gets $20 million next season, of which $10 million is deferred, with $5 million each payable on July 15 in 2026 and 2027.
• He would receive a $1 million assignment bonus each time he is traded, payable by the acquiring team.
• He would get $50,000 each for every All-Star appearance, Gold Glove and Silver Slugger, $100,000 for World Series MVP and $50,000 for League Championship Series MVP. He would get $500,000 for winning an MVP, $50,000 for second and $25,000 for third.
• Realmuto’s average annual salary of $23.1 million became the highest for a catcher, topping the $23 million Joe Mauer averaged in a $184 million, eight-year deal with the Minnesota Twins that covered 2011-18.
• Realmuto was acquired from the Marlins in February 2019 in a trade that sent right-hander Sixto Sánchez and catcher Jorge Alfaro to Miami along with pitching prospect Will Stewart and $250,000 in international signing bonus pool allocation.
• Realmuto made his second NL All-Star team with the Phillies in 2019 and earned a Gold Glove. He had career-highs in homers (25), RBIs (83) and slugging percentage (.493) that season.
• Realmuto, who turns 30 in March, hit .266 with 11 homers, 32 RBIs and a career-best OPS of .840 last season. He earned $3,703,704 prorated for the pandemic-shortened season from a $10 million salary.
• His deal is the second-largest of the offseason behind outfielder George Springer’s $150 million, six-year contract with Toronto.
• To make room for Realmuto on the 40-man roster, the Phillies designated right-hander Ian Hamilton for assignment. Hamilton had been claimed off waivers from the Seattle Mariners last month.