Update 11:39AM: Dylan Hernandez of the LA Times Tweets that the deal is worth $10.95 million with $4 million being paid to Kemp this year.

Ken Gurnick of MLB.com reports that the Los Angeles Dodgers and center fielder Matt Kemp have reached a preliminary agreement on a two-year contract, pending a physical. Kemp becomes the first arbitration-eligible Dodger to received a multi-year contract since 2005.

By signing this deal, both sides avoid arbitration. Kemp had 26 home runs and 101 RBI’s in 2009 and was expected to receive a decent raise from the $467,000 he made.  You can see Kemp’s contract history and statistics here.