Via tweet from Carrie Muskat. More details later.
UPDATE: It's a two-year deal:
The Cubs and manager Mike Quade have reached agreement on a two-year contract with a club option for the 2013 season. A press conference will be held today at 3:00 p.m. which will be aired live on Comcast SportsNet and streamed on CSNChicago.com.
Comment from me: I'm fine with this. Quade did a nice job. I was in favor of Ryne Sandberg -- not sure what will happen with him. Maybe we'll find out at the news conference. Interesting timing -- it'll begin at the same time as the NLCS game today.
#cubs name mike quade manager. News conf at 3 pm ct