UPDATE (12/4/2010 @ 6:20 p.m.): Jack Curry has some news on the much talked about fourth year option. It's a player option that guarantees Jeter $8M, and has incentives that can max it out at $17M. In the event Jeter declines the option, he'll need to buy out his contract for $3M. Very interesting contract indeed.
5:04 p.m.: Mark Craig of the Newark Star-Ledger tweeted that the Yankees and Jeter have finalized the deal. Jon Heyman of Sports Illustrated concurs with this report. The deal will be for 3 years at $17M per year with an non-guaranteed fourth year. The deal is pending a physical.
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