The deal was announced on Friday.
Veras is due $3.85 million next season, and the Cubs have a $5.5 million option for 2015 with a $150,000 buyout. He can make an additional $750,000 annually in performance bonuses based on games finished.
Detroit declined a $4 million option on Veras in November and opted to pay a $150,000 buyout.
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