If he has a good enough year he should be able to get 2/37 guaranteed at least if not just more $ on the FA market. I mean he had a bad year this year and the Blue Jays were willing to have signed him to a 2nd guaranteed year this offseason.
The only way I see a mutual option being picked up was if there was a buyout of over $4M and Jose didn't get any of it if he declined.