Ribeiro will make $1.05 million next season, while Roy will receive $1 million.
Ribeiro, 34, scored 16 goals and registered 31 assists last season with the Phoenix Coyotes, now known as the Arizona Coyotes. He has 202 goals and 454 assists in his career.
"Mike is a talented veteran center who has produced offensively everywhere he has played,” Predators president of Hockey Operations/General Manager David Poile said. “We have done our due diligence and believe Mike has a lot to offer to our team, improves us at our center ice position and will fit in with our group and contribute."
With center Mike Fisher out 4-6 months with a torn Achilles tendon, the Predators view Roy as a replacement. Last season with the St. Louis Blues, Roy had 9 goals and 28 assists. Roy, 31, has scored at least 40 points in a season six times during his career.
The Predators had high hopes in the offseason, but were unsuccessful in luring any top-tier free agents to Nashville.
"Derek brings us added depth, playmaking ability and experience at center, helping complement our young, developing wingers,” Poile said. “He has played in a number of roles, averaging about 19 minutes of ice time throughout his career, and is effective on the power play. He provides our coaching staff with some added skill and maturity down the middle when putting together our lineup for the coming season.”
-Scooby Axson and Paul Palladino