According to Phil Miller of the St. Paul Pioneer Press, the Twins traded right-hander Charles Nolte on Friday night for the rights to Rule 5 pick Jason Jones.  Miller explains the odd circumstances:

The right-hander (Jones) was the Twins' lone selection in last winter's Rule 5 draft, but the Yankees were allowed to reclaim the pitcher if he didn't remain on the Twins' 25-man roster all season. Rather than exercise that right, since Jones is not expected to break camp with Minnesota, the Yankees agreed to take Nolte instead.

Jones, 26, has posted a 2.70 ERA in seven appearances this spring and will join Triple-A Rochester once the season begins.  Nolte, 23, went 4-3 with a 2.05 ERA in relief for Single-A Beloit last season.  He was drafted by the Twins in the 24th round two years ago.

If you need a refresher, Bart Given of Inside the Majors has a great article on the Rule 5 Draft return process.  Given was once the assistant general manager of the Blue Jays.