The 29-year-old Bailey was 3-1 with a 3.77 ERA and eight saves in 13 chances for the World Series champions, making 30 appearances before season-ending shoulder surgery on July 24. He was limited to 19 games in 2012, the first season after the Red Sox acquired him from Oakland.
Bailey made $4.1 million, and by letting him go free the Red Sox could sign him without the 20 percent maximum cut rule applying.
He was named Rookie of the Year in 2009 with the A's, and went 7-10 with a 2.07 ERA and 75 saves in three years in Green and Gold.
The 25-year-old Kalish missed the entire season due to a right shoulder operation in January and cervical fusion surgery in August. He hit .243 with four homers, 29 RBIs and 13 steals for the Red Sox in 2010 and 2012.