From Joel Sherman:

The language in Rodriguez's record-breaking contract says that for the 2009 and 2010 seasons, A-Rod will receive $27 million plus the higher of $5 million or $1 million greater than the annual average value of the non-pitcher with the largest annual average value package. Thus, Boras explained, even if Rodriguez does the minimum and agrees to give up his free-agent rights to stay with the Yankees for the next three seasons, he would be guaranteed $32 million in each of the final two of those years.

Via PSD.