That's nox's number. I don't really know what it is but it might be close to that with the concurrent/impending contract inflation.
I don't think Phillips produces 12 wins in the next 4 years though. Maybe you get 8 out of him. I think 12 would be on the very high end of any sensible projections. If he is indeed in decline, as it looked this year, then you'd get about 2.1+1.6+1.1+0.6. That's only 5.4 widgets, so even at 9M per weiner, he's a non-asset. Mind you, he could possibly still fluke put up 5.4 in a single season.
Analyzing contracts like this is all very hand-wavy. Lots of broad strokes and ballpark projections that make projected values almost useful for any specific player. But if you're a baseball ops guy in a FO, I think all that you can do is try to land on the favourable side of things on every investment, and even though you'll probably look wrong on a lot of the specifics, in general you probably end up in the green.