Update: Boston has traded David Aardsma to Seattle for minor league lefty Fabian Williamson.
Jonathan Papelbon and Javier Lopez both signed one-year contracts today, avoiding arbitration hearings.
Bot's deal is for $6.25 million -- a record for an arbitration-eligible relief pitcher. Lopez signed for $1.35.
The Red Sox traded David Pauley, DFA'd when John Smoltz was added to the roster, to Baltimore for 24-year-old right-handed reliever Randor Bierd. In his first season in the majors, Bierd had a 4.91 ERA in 29 appearances, striking out 25 and walking 19 in 36.2 innings.
Catchers Market: The Angels signed Mike Napoli for $2 million, the Orioles grabbed Gregg Zaun for $1.5, and Ivan Rodriguez would like $3, but there's not much interest. Sean McAdam writes that Jason Varitek's value may not be as low as Zaun's, but "it isn't substantially higher, either".