Below you will find the press release from the Boston Red Sox about the re-signing of reliever Hideki Okajima to a one-year contract. The Red Sox also announced that catcher Max Ramirez has been claimed off waivers by the Chicago Cubs.

According to Jerry Crasnick of ESPN.com via Twitter, the deal for Okajima is worth $1.75 million and can earn him up to another $550,000 in incentives.

The Boston Red Sox today signed left-handed pitcher Hideki Okajima to a one-year contract through the 2011 season. No further terms were disclosed. Additionally, the club announced that catcher Max Ramirez was today claimed off waivers by the Chicago Cubs.

Boston Red SoxThe announcements were made by Executive Vice President/General Manager Theo Epstein.

The 35-year-old Okajima made 56 relief appearances for the Red Sox in 2010, reaching the 50-game mark for the fourth straight year and joining Dick Radatz (1962-65) as the only Boston pitchers ever to appear in at least 50 games in each of their first four Major League seasons. The left-hander finished second among Red Sox relievers with both four wins and 11 holds, and was third on the team in appearances. Okajima went 4-4 with a 4.50 ERA (23 ER/46.0 IP) overall last year, including a 2.37 ERA (5 ER/19.0 IP) in 22 games after the All-Star break and 1.38 mark (2 ER/13.0 IP) in 15 outings in September and October.

Okajima ranks second among American League leaders with 85 holds since he made his Major League debut with Boston in 2007. During that span, he also places among AL relief leaders in wins (T-4th, 16), games (6th, 254) and innings pitched (9th, 238.0) while his 209 strikeouts are fourth among AL left-handed relievers in that time. Signed by the Red Sox as an international free agent on November 30, 2006, Okajima has gone 16-8 with six saves and a 3.06 ERA (81 ER/238.0 IP) in his 254 career relief outings with the Red Sox. He has held opponents to a .238 average (214-for-898), including a .214 clip (83-for-388) vs. left-handed batters.

Named an American League All-Star in 2007, Okajima won a World Series Championship with the Red Sox that season. He owns a 2.11 ERA (5 ER/21.1 IP) in 17 career postseason outings with Boston, the most playoff appearances ever for a pitcher born in Japan. Additionally, his eight career postseason holds are tied for the fourth most ever.

Ramirez, 26, was claimed by the Red Sox off waivers from the Texas Rangers on January 5. In 2010, he hit .286 (54-for-189) with nine doubles, three home runs, 29 RBI, 24 runs and 27 walks in 56 games with Texas’ Triple-A Oklahoma City club. He also appeared in 26 games behind the plate for the Rangers, including 22 starts, and went 15-for-69 (.217) with three doubles, two home runs, eight RBI, eight runs and 12 walks in 28 games overall with Texas. Originally signed by the Atlanta Braves as an international free agent on October 1, 2002, Ramirez has hit .298 (646-for-2,166) with 147 doubles, five triples, 77 home runs, 401 RBI, 335 runs and 333 walks over 615 minor league games in the Braves, Cleveland Indians and Rangers organizations. He made his Major League debut with Texas in 2008 and has gone 25-for-115 (.217) with four doubles, four home runs, 17 RBI, 16 runs and 18 walks in 45 career Major League contests.