Shoaib had refused to sign the contract, even though 14 of his teammates had accepted it before the Australia tour, leading to a lot of speculation.
PCB Director Abbas Zaidi confirmed that the Board had revised some clauses in Shoaib's contract because of his prior commitments.
"Shoaib has commitments with a number of sponsors and is also playing county cricket next year. He was a bit uncomfortable with some particular clauses which have now been revised to the satisfaction of the Board and his lawyers," Zaidi was quoted as saying in 'The News' today.
Shoaib had objected to some clauses which stated that a player would have to seek clearance from the Board before endorsing any product and was also bound to endorse the products of sponsors who had a tie-up with the International Cricket Council.
Shoaib, who is struggling at present with a hamstring injury, signed his contract and sent it through his lawyer to the Board.
"It was never an issue with us because he just wanted some time to go through the contract properly since he has several individual endorsement and sponsorship contracts," Zaidi added.