Jay gets a $1.25 million signing bonus under Monday's agreement, $3.5 million this year and $6,225,000 in 2016.
He hit .303 last year with three homers and 46 RBIs. Jay turns 30 on March 15.
Jay had asked for $5 million when the sides exchanged proposed one-year salaries last month and had been offered $4.1 million. He is eligible for free agency after the 2016 season.