NEW YORK (Reuters) - Newly acquired pitcher Shaun Marcum has agreed to a one-year, $3.95 million contract with the Milwaukee Brewers, thus avoiding arbitration, Major League Baseball's official website reported.

"The goal is always to avoid going to a hearing and coming to an agreement that both sides feel comfortable with," Brewers senior director of business operations Teddy Werner told the website (www.mlb.com).

"Sometimes you just have to wait it out."

Marcum, acquired from Toronto in December, had asked for $5 million and the Brewers had offered the right-hander $3 million. Arbitration had been scheduled for Thursday.

The 29-year-old posted a 13-8 record with a 3.64 earned run average at Toronto in 2010 after missing the previous season because of elbow surgery. He earned $850,000 last year.

(Reporting by Gene Cherry in Salvo, North Carolina. Editing by Steve Ginsburg)