"It definitely does mean security, but, for me, the money's not the issue," said Lowry at a press conference Sunday at AT&T Park. "I love to play, love to go out and compete and try to give our team a chance to win every fifth day."
Lowry has long been the target of opposing clubs -- they love his great changeup, competitive spirit and pitching promise -- and when teams talk trade, the 25-year-old left-hander's name is usually the first one mentioned.
Giants general manager Brian Sabean said locking up Lowry for four seasons with a team option for a fifth year was important to the club, and he called the left-hander "one of the most competitive young pitchers in baseball."
Lowry, San Francisco's first-round selection in the 2001 First-Year Player Draft, had a sensational 6-0 record and 3.82 ERA in his rookie season of 2005, then hit a rocky spell last year, struggling to a first-half mark of 5-9 and a 5.07 ERA. But he rebounded after the All-Star break with eight victories and a brilliant 2.43 ERA, including a 5-0 August in which his ERA was 0.69. He earned Pitcher of the Month honors for his efforts.
"The great thing about him was last year when he was tested in the first half, then [we saw] the second half he had," said Sabean. "He had a great work ethic, and every time he goes out, he gives us a chance to win."
Lowry, the Giants' No. 3 hurler, will earn $385,000 this season and received a $1 million signing bonus. The deal is worth $17 million overall, including all escalator clauses.
The pact calls for $1.1 million in 2007, $2.25 million in 2008, $4.5 million in 2009 and a team option of $6.25 million for 2010.
"This is something I've been working my whole life for, and it couldn't have happened with a better team," said Lowry, a former Pepperdine star who led the Giants' staff with 13 wins, 204 2/3 innings, a 3.78 ERA and 172 strikeouts. He is 19-13 lifetime with a 3.71 ERA.
"I'm pretty much motivated as it is," said Lowry, who is slated to make his first 2006 start on Wednesday in San Diego. "I give it everything I have. That's the way I've always been; that's the way I always will be."
Lowry's agent, Damon Lapa, said the negotiation was done in a positive environment with a mutual goal, though the Giants were initially interested in a one-year deal.
The Giants now have two players signed through the 2009 campaign, with outfielder Randy Winn inking a three-year contract extension on Feb. 28.