Again, the more appropriate comparison is Howard. Not Jeter.
for the 2007 season. Howard got the record of $0.9 million. In 2006 he had a shash line of .313/.425/.659/1.084 with a 5.0 WAR. In 2007, he hit .268/.392/.584/.976 with a 2.8 WAR. He then took the Phillies to arbitration and won $10 million vs $7 million.
Here is where salaries never go down. Only up.
In 2008, his slash line was .251/.339/.543/.882 and a 1.5 WAR. Even with that, in 2009, he avoided arbitration with the Phillies where the offers were $18 million vs $14 million, and signed a 3 year $54 million contract that bought out his 3 remaining arbitration years.
He went on to sign an extention buying out 5 years of free agency in 2010 after having a slash line of .279/.360/.571/.931 with a 3.5 WAR in 2009.
Now, he probably has the second worst contract in the MLB. Putting up a huge .718 OPS with a -1.2 WAR last season.