Glock has floated in and out of F1 for the past few years. After working his way up the ranks and named Rookie of the Year in the Formula 3 Euroseries, Glock moved in to a race seat with Jordan F1 in 2004, scoring his first point in his first race (due to a technicality) at the Canadian Grand Prix in 2004. He then moved across the ocean to Champ Cars, and in his second race at the Montreal circuit scored a second place finish in his first season and was again named Rookie of the Year. Last year he moved to GP2, and took the title this year while simultaneously serving as a test driver for BMW Sauber, but was passed over for the race seat after Robert Kubica's crash... also at the Circuit Gilles Villeneuve in Montreal.
Despite his experience, Glock is evidently still considered a rookie, which means Toyota can get away with paying him "only" $2 million a year in comparison to Ralf Schumacher's purported $19 million annual contract. Glock and Toyota are expected to officially sign after this season's closer in Brazil. Just don't be surprised if his new employers use Timo to promote their new JDM coincidentally-named cellphone, the Timo.