Shortstop Alexei Ramirez and the Chicago White Sox have agreed in principle to a new contract that guarantees $32.5 million in new money over four years through 2015, aperson familiar with the negotiations told The Associated Press.

The person spoke Tuesday on the condition of anonymity because the agreement is pending a physical. The deal includes a $10 million option for a fifth year, according to El Nuevo Herald in Miami, which was first to report the agreement.

Chicago exercised Ramirez's $2.75 million option for 2011 in December with the idea that they would sign him to a new deal after they addressed other needs.

The 29-year-old Ramirez hit .282 with 18 home runs and 70 RBIs last season and is considered one of the AL's best-fielding shortstops.

Ramirez led AL shortstops in batting average, slugging percentage (.431), homers and total bases (252) and ranked second in RBIs.