DECEMBER 2, 10:14pm: The Rays have officially announced the deal, tweets Topkin.

NOVEMBER 24, 4:29pm: Topkin tweets the contract details: $1.75MM in 2014 and $2.75MM in 2015. Topkin adds Molina is set to take a physical either Monday and Tuesday and, once that is complete, the deal is expected to become official.

2:59pm: The Rays have reached a two-year, $4.5MM agreement with catcher Jose Molina, tweets Jon Heyman of CBSsports.com. Molina is represented by ACES, per MLBTR's Agency Database.

Molina is expected to be Jose Lobaton's backup after starting a career-high 87 games behind the plate in 2013, reports Marc Topkin of the Tampa Bay Times. Topkin adds the middle Molina brother had received interest from other clubs, but liked the Rays' competitive situation, playing for manager Joe Maddon, and living in the Tampa Bay area, not far from his Puerto Rico home. The Rays had been linked as a possible trade partner for the Reds' Ryan Hanigan.

Molina batted .233./.290/.304 in a career-best 313 plate appearance (99 games) for the Rays last season, his lowest offensive output in the past four years. However, the 38-year-old is regarded as one of the game's best defensive catchers (although his lack of mobility resulted in 33 wild pitches and eight passed balls in 2013) and is an expert in the art of pitch-framing. Molina has also thrown out 38% of opposing base-stealers throughout his career.

Steve Adams contributed to this post.