Plus incentives apparently.
I'm not too high on this from Kershaw's perspective, unless the incentives are fairly significant. Maybe the market just isn't there for him after some health issues the last few years, but I feel like hitting the market as the best SP in a weak FA year could have netted him an extra 4 years at 25M / year above what he got. Maybe he ends up getting that anyway, but a major injury could cost him a ton.
From the Dodgers perspective, this makes a lot of sense imo. They don't want him to leave this offseason while they're in the middle of an elite compete phase, and they probably don't want to pay him many additional years in case he's about to break down. This couldn't have worked out much better for them.