Martin agreed Tuesday with the Cubs on a one-year, $2.5 million contract, Jon Morosi of MLB Network reports. The deal contains $500,000 in performance bonuses.
Martin is expected to slot into a setup role for Chicago, though he could be in the mix for closing chances if the presumptive favorite for the job, Rowan Wick, falters at any point. The 35-year-old right-hander has been effective between stops in Texas and Atlanta over the last three seasons, generating a 3.23 ERA and 25.5 K% over 123 relief appearances during that stretch.