Pendleton, acquired off waivers from the Yankees earlier this year, can elect to become a free agent due to a prior outright, while Cedeno will automatically become a free agent following the World Series. King will be placed on Double-A Corpus Christi's roster.
Cedeno, 25, who had his contract purchased from Triple-A Oklahoma City on Sept. 11, appeared in three games for Houston, allowing five earned runs in 1 2/3 innings in his Major League debut. He split the majority of his season between Double-A and Triple-A, going 7-9 with a 4.38 ERA in 35 games, including 22 starts.
King, 24, was a combined 2-2 with a 5.73 ERA in 50 relief appearances for Corpus Christi, Double-A Springfield and Triple-A Memphis. He allowed only 41 hits, while striking out 69 in 55 innings. During his time with Corpus Christi, he was 0-2 with a 3.76 ERA in 33 appearances. He was acquired by Houston on May 26 via waivers from St. Louis.
Pendleton, 28, compiled a 6.75 ERA and no record in 15 relief appearances for Houston (four games) and the New York Yankees (11 games) this season. The native Houstonian began his season as a Rule 5 Draft pick by the Astros, before being returned to the Yankees during Spring Training. He spent most of his season with Triple-A Scranton/Wilkes-Barre, going 3-4 with a 3.11 ERA in 18 games, including 10 starts.
The Astros claimed Pendleton off waivers from New York on Sept. 9, and he finished his season with the Major League club. He was originally a fourth-round selection by the Yankees in the 2005 Draft.