He missed more than two months last season with a left wrist strain and spent most of the year with Triple-A Pawtucket, hitting .283 with three homers, 20 RBIs and a .389 on-base percentage in 62 games.
Lavarnway was a sixth-round pick out of Yale in the 2008 First-Year Player Draft by the Red Sox when Theo Epstein was Boston's general manager. Epstein now is the Cubs' president of baseball operations.
Peterson, 26, batted .308 with 40 doubles, 11 homers and 90 RBIs with Triple-A Sacramento last season, and he earned Pacific Coast League midseason and postseason All-Star honors. A left-handed hitter, he posted a .381 on-base percentage and a .460 slugging percentage. Peterson led the league in hits and doubles and ranked second with 101 runs scored.
He was a second-round Draft pick by the Cardinals in 2008 and was traded to the A's in the Matt Holliday deal.
Roach, 25, was claimed off waivers from the Padres on Nov. 12. He went 1-0 with a 4.75 ERA in 16 appearances, including one start, with the Padres last season, his first year in the big leagues.
Watkins, 25, hit .233 with four doubles, one home run and six RBIs in 58 games over the last two seasons with the Cubs. A solid defender at second, he was the Cubs' 21st-round pick in the 2008 Draft.
Carrie Muskat is a reporter for MLB.com. She writes a blog, Muskat Ramblings, and you can follow her on Twitter @CarrieMuskat. This story was not subject to the approval of Major League Baseball or its clubs.