per rotoworld:

Red re-signed OF Laynce Nix to a minor league contract.

Nix, 29, hit .239/.291/.476 this past season with a career-high 15 homers, 26 doubles and 46 RBI in 309 at-bats for the Reds. He was hoping to capitalize on the decent numbers but was forced to settle for a minor league deal and will battle for playing time in the Cincinnati outfield in 2010.
I think it is awesome that we got him for just a minor league contarct. Not knowing whether or not we have room for him with the majority of the bench being of his position type, this is a solid move.

Pbviously, the guy is going to have to improve on the OBP side of the game. But I think he is a legitimate power threat off the bench. Good signing IMO.