Angel Pagan will be a Giant for the entirety of Obama’s second term. And pretty cheap, by MLB standards. The center fielder has agreed in principal to a 4/$40 million contract that keeps him roaming the deep alleys of AT&T Park through 2016.

The contract shakes out like this: 7/9/9/10 with a $5 million bonus that alone eclipses the $4.85 million Pagan earned in 2012. That may explain this picture:

Pagan was set to hit free agency and being courted by the Philadelphia Phillies. When the Phils declined to offer a fifth year, No. 16 made the easy decision to stay in the Bay.

I love the contract. I don’t think it’s a case of World-Series-hangover-pay-everyone-like-their-heroes. With contract inflation and the price some team will pay for Michael Bourn, welcome back Angel! Here’s the reaction from the rest of the blogosphere, ranging from national writers to our very own lovable Twitter fiends.

Grant Brisbee (@mccoveychron): I’m not thrilled with the contract when looked at out of context. But in context, with Pagan being a lot more palatable than the other options on the market, it’s really good news for the San Francisco Giants base balling club… (rest of article here)

Wendy Thurm (@hangingsliders): I’d prefer 3 years, but 4/40 is MUCH more reasonable than I expected

Steve Berman (@BASportsGuy): I’d rather have Pagan at 4/$40M than B.J. Upton at the same price … wait, Upton got 5/$75M?

Julian Levine (@GiantsNirvana): 4/$40M for Angel Pagan, eh? Not thrilled, but that’s a solid deal.

Dave (@gggiants): So 2 more good years from Pagan, one mediocre year, and then DFA’d in July 2016.

Scott Willis (@BAStatsGuy): 4 years 40 million isn’t too bad. I don’t care for the 4th year but that basically pegs him as a league average player.

Rob Neyer (from SB Nation): Keep in mind, we’re talking about (again) a 31-year-old who’s played more than 123 games in a season just twice in his career, and just a year ago was essentially treated as surplus talent by the Mets. To Pagan’s and the Giants’ credit, though, he did play quite well last season. No, maybe he’s not a Gold Glove-quality center fielder. And yes, the Giants are buying into a declining market. But he’s a solid major leaguer who should help the club some over the next few years. These days, that really is worth $10 million. (rest of the article here)

And the best news, the Pagan family is rejoicing.

Windy Pagan (@windysuil): I cant stop crying!!!!! Thanks San Francisco for believed in my husband!!!