The Sox apparently found a reliever willing to sign for fewer than three years AND take a demotion in the process: Bobby Jenks.
Jenks was nontendered by the White Sox after posting a league-average ERA in 2010 despite striking out more than 10 batters per nine innings, allowing a lower OPS (.668) than in 2009, blowing just four saves and allowing just two of 16 inherited runners to score. Oh, and he's only 30 next year.
Looks like a good signing from here. With Jenks and Bard in the bullpen, the Sox would either 1. have a potential for dominant 7th-8th-inning relief if Jonathan Papelbon returns somewhat to form, or 2. have a backup plan in case Papelbon pulls a Keith Foulke.