CINCINNATI (AP) — The Cincinnati Reds finalized a $26 million, two-year contract with pitcher Nick Martinez on Friday and a $16 million, two-year deal with reliever Emilio Pagán.

Martinez, a 33-year-old right-hander, gets $14 million in 2024 and $12 million in 2025.

He has the right to opt out after the 2024 World Series and become a free agent again.

Pagán, a 32-year-old right-hander, has an $8 million salary next season — and the deal includes an $8 million player option for 2025.

If Pagán declines the option, he would receive a $250,000 buyout.

Pagán can earn $200,000 in performance bonuses for games finished in 2024: $50,000 each for 20 and 30, and $100,0000 for 40.

He would receive a $500,000 assignment bonus if traded.

Martinez joins a rotation that could include Hunter Greene, Nick Lodolo, Graham Ashcraft, Andrew Abbott, Brandon Williamson or Connor Phillips

Martinez made $10 million this year, when he went 6-3 with a 3.43 ERA in nine starts and 54 relief appearances in his second season with the San Diego Padres.

He was 4-4 with a 3.47 ERA with eight saves in 10 starts and 37 relief appearances for the Padres in 2022.

He spent the previous four seasons in Japan — with the Hokkaido Nippon Ham Fighters and then the Fukuoka SoftBank Hawks.

San Diego turned down options at $16 million annually, and Martinez declined options at $8 million a year.

Pagán went 5-2 with a 2.99 ERA and one save in 65 relief appearances and one start for the Twins, striking out 65 and walking 21.

He is 22-18 with a 3.71 ERA and 32 saves in seven major league seasons with Seattle (2017), Oakland (2018), Tampa Bay (2019), San Diego (2020-21) and Minnesota (2022-23).

He had 20 saves in 28 chances for the Rays in 2019.

All-Star Alexis Díaz had 37 saves for the Reds last year, as Pagán joins a bullpen that lost Buck Farmer to free agency.