A person familiar with the deal told The Associated Press on Friday that the Giants and Weatherford agreed to terms on a five-year contract worth $12.75 million.
The deal includes a $3.25 million signing bonus, according to the person who spoke on condition of anonymity because the team had not yet announced the signing. Weatherford will be paid about $6 million through the first two years, and the bonus is more than the roughly $2.6 million Weatherford would have made if he signed his franchise tender.
The Giants placed the franchise tag on him on March 5, with both sides anticipating getting a long-term contract done.
"I'm looking forward to representing the NEW YORK GIANTS for the next 5 years," Weatherford wrote on Twitter, where he has become a fan favorite. "(at)giants thank you to our fans for making it an easy decision!"
Copyright 2012 by The Associated Press