Rodriguez will be paid $8 million for 2012, about $3.5 million less than his contract paid him in 2011, the Milwaukee Journal Sentinel reported.
Rodriguez, who turned 30 on Jan. 7, was acquired by the Brewers from the New York Mets last July. He set a major-league record with 62 saves for the Los Angeles Angels of Anaheim in 2008 but was used mostly as a set-up pitcher ahead of Brewers closer John Axford.
He was a combined 6-2 with a 2.64 earned run average and 23 saves -- all with the Mets -- last year. For his 10-season career, Rodriguez is 36-27 with a 2.51 ERA and 291 saves.