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But don't worry about poor Tim: he can make some of that lost money up in bonuses available if he turns in particularly stellar performances in 2012 and 2013.
Specifically, Lincecum has bonuses in his contract should he win the Cy Young or MVP awards over the two years of the deal.
An NL Cy Young Award in 2012 would land Lincecum $500,000, while Lincecum would get $250,000 if he finishes in second place, $100,000 if he finishes in third, $75,000 if he finishes fourth and $50,000 if he finishes fifth.
Those same bonuses apply to 2013 as well. However, should Lincecum win the NL Cy Young Award in 2012, the bonus for winning the award in 2013 would double up to $1 million.
Lincecum can also earn cash for winning the NL MVP Award: $250,000 for winning it, $150,000 for finishing second, $100,000 for third, $75,000 for fourth and $50,000 for fifth.
It's interesting that the MVP is "worth less" than the Cy Young; Lincecum's camp clearly recognized how much more difficult it is for a pitcher to win MVP.
Lincecum can also unlock a $100,000 bonus for making the All-Star Game in each year (good thing Bruce Bochy isn't picking again, huh?) and $75,000 for winning a Gold Glove.
If we had to guess right now, it seems like a strong bet that Lincecum gets the All-Star bonus and that he picks up at least $100K from the Cy Young voting in 2012 alone.