Redmond joins Daniel Flynn, Jesse Ryder and Tim Southee as players to be offered New Zealand contracts for the first time.
Their inclusion was expected, as all have been picked for the tour of England beginning next month.
The contract caps a great few weeks for Redmond, who was surprisingly named as one of two openers in the New Zealand test team to tour England.
‘‘I kind of pinch myself sometimes,'' Redmond said yesterday when asked about his contract.
‘‘It's just been a crazy month for me. It's another great opportunity for me and I just want to make the most of it".
Redmond said the contract would provide some financial security over the next 12 months and enable him to put all his time and efforts into cricket.
‘‘I just can't wait to get out there with New Zealand and play. We leave for England on the 22nd, so it's not long now.''
The New Zealand contracts are awarded to the 20 players who, in the opinion of the national selectors, have the greatest chance of ‘‘adding future value'' to the national team during the next 12 months.
The contracts have a tiered pay scale, but NZC does not make that information available.
Twenty-five players are ranked by the selectors against set criteria in respect of test cricket and 25 players are ranked by the selectors against set criteria for one-day cricket.
There is a weighting of 1.25 for test rankings and 1.00 for ODI rankings. The 20 players with the highest aggregate score are then offered contracts.
Otago wicketkeeperbatsman Brendon McCullum is the only other Otago player contracted and he is expected to claim one of the top contracts in the New Zealand side.
Northern District batsman James Marshall returns to the list on the back of his selection for the tour of England. However, Craig Cumming, Mathew Sinclair, Michael Papps and Matthew Bell have all been cut from last year.
Former Black Caps skipper Stephen Fleming has retired and is no longer contracted. Cumming's omission continues his on again, off again relationship with the national team. The Otago captain played in two tests against Bangladesh earlier this year.
However, he averaged just 15.66 and was cut from the squad to play the home series against England.
Cumming's name was also absent when last season's contracts were announced However, he found himself back on New Zealand Cricket's payroll when Craig McMillan retired from international cricket.
