It's three years and $12 million with an option for a fourth year, which is just crazy. Romero used to be a pretty good reliever for the Twins, but that was some time ago. He was terrible for the Angels in 2006 and got released by the Red Sox in 2007. Then he went to the Phillies and posted a 1.24 ERA that was utterly out of step with his peripherals and talent level. Romero does an outstanding job keeping the ball on the ground, but look - the guy had 42 strikeouts and 40 walks last year. He's a good fit for Citizens Bank Park, but three years and $12 million is far too great a commitment for a guy like this.
Now may be a good time to reiterate that trading established relievers - guys like Damaso Marte, who's twice the lefty specialist Romero is - is a very good idea for a team in the Pirates' position.