Earlier this offseason, Masterson had filed an arbitration figure of $11.8 million, while the team countered with a filed figure of $8.05 million.
Masterson, 28, logged a 3.45 ERA (109 ERA+) and 1.20 WHIP in 193 innings in 2013. He led MLB with three complete game shutouts and finished the year in the bullpen because of an oblique injury. Masterson has thrown 180+ innings in each of the last four seasons and for his career owns an ERA+ of 100 across parts of six major-league seasons.
Masterson is eligible for free agency after the upcoming season.