As per Ken Rosenthal on Twitter, the Pirates have reached terms with Russell Martin, pending a physical. We will continue to flesh this out with more details about the terms of the deal as they become available.

UPDATE 9:46 p.m. ó Rosenthal tweets, via David Waldstein, that Martinís contract is 2 years/$17M. If confirmed, that is for a higher average annual value than the original rumor of 3 years/$24M, but the shorter term plays better for the Pirates and their need to evaluate Tony Sanchez at the Major League level.
From Pirates Prospects