Red Sox GM Theo Epstein has agreed to a new contract with the team, according to an Associated Press report on Monday. Epstein revealed the agreement on the first day of the annual GM meetings in Dana Point, California.

The Kansas City Royals have announced that the team and catcher Miguel Olivo have picked up their mutual options, guaranteeing a contract for the 2009 season. In addition, the parties agreed to a mutual option for the 2010 season. Consistent with team policy, terms of the Olivo contract were not disclosed. The Royals also have selected the contract of catcher Brayan Pena, adding him to their 40-man roster, while assigning catcher Matt Tupman and pitcher Yasuhiko Yabuta outright to Omaha. Yabuta had the right to elect free agency, but chose to accept the assignment. The Royals also announced that the Toronto Blue Jays have claimed infielder Angel Sanchez on Outright Waivers. With today's moves, the Royals roster now stands at 39. Olivo, 30, hit .255 (78-for-306) with 22 doubles, 12 home runs and 41 RBI in 84 games for the Royals in 2008. In the field, he threw out a career-best 38.7 percent (12-for-31) of attempted base stealers, the fourth-highest percentage among catchers (min. 20 stolen base attempts). The 26-year old Pena was claimed off waivers by the Royals from the Atlanta Braves organization on May 30. He hit .303 (71-for-234) with 17 doubles, one triple, six home runs and 31 RBI in 60 games for Omaha. The switch-hitting catcher is a career .228 (29-for-127) hitter in 71 Major League games with the Braves from 2005-2008.

Relief pitcher Justin Miller has reached agreement on a Minor League contract with the Giants. Miller spent the last two years in the bullpen of the Marlins. According to an industry source, Miller will be a non-roster Spring Training invitee with the Giants.