The Philadelphia Phillies and two-time All-Star catcher J.T. Realmuto agreed on a $115.5 million, five-year contract, two people familiar with the deal told The Associated Press.

Both people spoke to The Associated Press on condition of anonymity Tuesday because Realmuto’s deal was pending a successful physical.

Realmuto gets $20 million next season, of which $10 million is deferred, with $5 million each payable in 2026 and 2027. He gets $23,875,000 in each of the final four years.

He does not have a no-trade provision. The deal includes a $1 million assignment bonus if traded.

Realmuto's average annual salary of $23.1 million will become the highest for a catcher, topping the $23 million Joe Mauer averaged in a $184 million, eight-year deal with the Minnesota Twins that covered 2011-18.

Realmuto was acquired from the Marlins in February 2019 in a trade that sent right-hander Sixto Sanchez and catcher Jorge Alfaro to Miami along with pitching prospect Will Stewart and $250,000 in international signing bonus pool allocation.

Realmuto made his second NL All-Star team with the Phillies in 2019 and earned a Gold Glove. He had career-highs in homers (25), RBIs (83) and slugging percentage (.493) that season.

Realmuto, who turns 30 in March, hit .266 with 11 homers, 32 RBIs and a career-best OPS of .840 last season. He earned $3,703,704 prorated for the pandemic-shortened season from a $10 million salary.

His deal is the second-largest of the offseason behind outfielder George Springer’s $150 million, six-year contract with Toronto.

Realmuto’s market narrowed last month when the New York Mets went for a less expensive option and signed James McCann to a $40.6 million, four-year deal.