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From MLB Trade Rumors:

The Red Sox signed reliever Scott Atchison, writes Ken Rosenthal of FOX Sports. Atchison gets a one-year deal with two club options after spending two seasons in Japan. Atchison, 34 in March, elected free agency in November of 2007 after posting a 4.11 ERA in 30.6 relief innings for the Giants.

Atchison pitched two solid years for the Hanshin Tigers in Japan, posting a 2.77 ERA in 194.2 total innings. He was especially good in 2009, posting a 1.70 ERA in 90 innings of work, while allowing just 60 hits.

Interestingly, those numbers are almost identical to current Giants set-up man Jeremy Affeldt, who tallied a league best 33 holds in 2009 with a 1.73 ERA and only 42 hits allowed. Japan is not the MLB, but Atchison did post better K/BB numbers: 81/20, compared to Affeldt's 55/31.

UPDATE: ESPN's Godon Edes has the details on the money:

Red Sox add Scott Atchison, RH reliever who pitched last two seasons in Japan. The deal is for $420K, with club options of $440K and $600K.

Sox had interest in signing Atchison 2 years ago, but he got nearly $3mil to pitch in Japan. Could have gotten big bucks to return.