Carl Pavano returns for 2 Years, 16.5 million. Joe Christensen reported on his twitter (in an apparently now redacted tweet) that it's 8 milion this year, 8.5 next year, with some kind of currently unknown vesting option for 2012.
Certainly more details here soon, but for now, welcome back, Pavstache!
Edit: The vesting option in 2012 would merely give Pavano an extra $500,000, NOT trigger a third year, according to Joe C...