"The Red Sox will receive relief pitcher Chris Carpenter from the Cubs as compensation for letting former general manager Theo Epstein out of his contract to become Chicago's president of baseball operations.

Both sides will exchange a player to be named later.

Red Sox general manager Ben Cherington said he was happy the compensation issue was over. The process of settling compensation has taken four months.

Carpenter, a 26-year-old righthander, is a prospect who has played in 10 major league games. He is not the more established starter by the same name who plays for the Cardinals."