Third baseman J.D. Davis has agreed to a $2.5 million, one-year contract with the Oakland Athletics just days after he was released by San Francisco, according to multiple reports.

Davis can earn an additional $1 million in performance bonuses, per reports. The agreement was pending a physical.

Davis, who turns 31 next month, was cut by the Giants on Monday after beating the team last month in salary arbitration. He was entitled to just over $1.1 million in termination pay rather than a $6.9 million salary.

Davis was awarded the salary by a three-person panel rather than the team's $6.55 million offer. Under baseball's collective bargaining agreement, negotiated contracts for arbitration-eligible players are guaranteed, while salaries decided by an arbitration panel are not. That allowed the Giants to release Davis for 30 days' termination pay, which came to $1,112,903.

Davis hit .248 with 18 homers and 69 RBIs last year with the Giants, who obtained him from the New York Mets in August 2022. He also plays first base and in the outfield, but he became expendable when the Giants agreed to a $54 million, three-year contract with third baseman Matt Chapman.

During spring training this year, Davis was 6-for-15 (.400) with 2 homers and 6 RBIs in six games.

The Athletic was first to report Davis' agreement with Oakland.

The Associated Press contributed to this report.