HOUSTON -- Outfielder Yordan Alvarez and the Houston Astros finalized a $115 million, six-year contract covering 2023-28.

The 24-year-old has a one-year deal for 2022 calling for $764,600 while in the major leagues and $304,500 should he be assigned to the minors.

His new deal announced Monday calls for a $5 million signing bonus payable with 30 days of the contract's approval by Major League Baseball and salaries of $7 million next year, $10 million in 2024 and $15 million in 2025, covering his three years of arbitration eligibility.

Álvarez receives $26 million annually from 2026-28, when he would have been eligible for free agency.

His salary can escalate from 2024 to 2027 based on finish in MVP voting $1.5 million for first, $750,000 for second and $750,000 for third. The increase would apply to all subsequent seasons.

For 2027 and '28, Álvarez gets a limited no-trade provision allowing him to list 10 teams he cannot be dealt to without his consent.

Álvarez hit .277 last season and set career highs with 33 homers and 104 RBI. He entered the series opener Monday against Seattle with a .295 average, 16 homers and 34 RBI, all team highs.