Ryan Howard has agreed to a $125 million, five-year contract extension through 2016 with the Philadelphia Phillies that includes a club option for 2017.
The 30-year-old will make $20 million each in 2012 and 2013 and $25 million annually from 2014-16. The Phillies have a $23 million club option for 2017 with a $10 million buyout.
The $25 million guaranteed average salary in the extension will be baseball's second-highest behind Alex Rodriguez's $27.5 million average under a 10-year contract with the Yankees running through 2017.
Howard, the 2006 NL MVP, is earning $19 million this season as part of a $54 million, three-year deal that pays him $20 million in 2011.
The deal was announced Monday before the Phillies play the San Francisco Giants.