Torrealba receives a $500,000 buyout instead of a $4 million salary, and Embree gets a $250,000 buyout instead of a $3 million salary.
The 31-year-old Torrealba came up big for the Rockies down the stretch, helping them win the NL wild card for the second time in three years. He hit .291 ands drove in 17 of his 31 RBIs from Sept. 1 on.
Embree was 2-2 with a 5.84 ERA in 36 games. His season ended when he broke his right leg on a liner off the bat of Atlanta's Martin Prado on July 10.
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