Matt Cain of the San Francisco Giants has signed a 5 year $112.5 million contract extension that will keep him in the black and orange through the 2017 season. The deal is the largest in history for a right hander destroying the previous high of $105 million signed by Kevin Brown in 1998.

The guaranteed money includes a $5 million signing bonus and a $7.5 million buyout in 2018. That year has a player vesting option for $21 million. Cain’s option would become guaranteed if he pitches 200 innings in 2017 or 400 innings combined in 2016-17 and is not on the disabled list at the end of the 2017 season for a right elbow or right shoulder injury. If it does not become guaranteed, it would be a team option.

“Ensuring that Matt remained a Giant beyond this season was a top priority for the organization. Matt is an integral part of the team whose performance on the mound will be one of the keys to our success for years to come,” Giants General Manager Brian Sabean said in a statement Monday.

“The success of our franchise depends on developing and retaining homegrown talent like Matt Cain,” Giants president Larry Baer said. “I want to commend Brian Sabean, Bobby Evans, Matt and his representatives for their hard work to keep Matt in the orange and black. This is an exciting day for Giants fans everywhere and a fantastic way to kick off the 2012 season.”

Matt Cain has a lifetime ERA of 3.35 with 1085 strikeouts and 473 walks in 1317.1 innings pitched. He has a War of 23.4 which is the second highest in the majors since 2006.