A 32-year-old right-hander, Baez was 4-6 with a 4.02 ERA in 59 games with Baltimore last year, holding batters to a .222 average.
He has 114 saves in seven major league seasons. He missed 2008 following elbow ligament replacement surgery.
Baez could be used as a setup man along with Ryan Madson and J.C. Romero, and he's a potential option as a closer if Brad Lidge struggles again.
