The Chronicle's Sam Khan confirmed with Ed Wade that the Astros have reached an agreement with Brett Myers - but terms are not yet known.
Update: Brian McTaggart tweets that Myers' extension is for two years, plus a vesting option for 2013. Total value (with option + incentives): Approaching $29.5 million. No word on year-by-year breakdown, but we'll have it as soon as we know.
Further update: Ed Price says the two guaranteed years are for $21m.
Better update: Brian McTaggart posted the details of Myers' extension:
2013: $10m (club/vesting option)*
*Myers will receive a $3m buyout if the option doesn't vest, and he'll also immediately receive a $2m signing bonus to replace the $2m buyout at the end of 2010.