Update: Pete Walker has also signed a one year contract avoiding arbitration by signing a deal for $650,000 this season.
Hillenbrand had asked for $6.75 million with the Jays offering $5.0 million, so the sides settled on an amount slightly less than the midpoint of the two figures. Hillenbrand will also receive an additional $25,000 if he reaches 610 plate appearances and another $25,000 if he reaches 635 plate appearances.
The Jays payroll heading into spring training looks to be between $73.0 and $73.5 million.