The agreement Thursday was for $5,000 above the midpoint between the $2.4 million Perez had asked for and the $1.6 million the Indians had offered when the sides exchanged arbitration figures last month. Perez can earn a $25,000 performance bonus if he appears in 55 games, a total he has reached in three of the last four seasons.
Perez went 5-2 with a 3.00 ERA last year, tying for second in the American League with 71 pitching appearances. He made $1.33 million.
In six seasons with the Indians, the 29-year-old is 20-12 with a 3.64 ERA.