It's a one-year deal, no terms announced as yet, though I'd assume it is with various incentives.
This is good. I like Wood, I think he's a standup guy who really DOES regret that he wasn't able to contribute, and I hope he will be able to in 2007.
UPDATE [2006-11-12 15:58:31 by Al]: With the Ramirez signing, I returned the "BCB Reader Age Poll" to the front page.