Glentoran duo Andy Waterworth and Richard Clarke have been taken off the transfer list after they approached the club to take a pay cut.
Striker Waterworth and midfielder Clarke were among five top players placed on the list last month.
"Both players insisted they did not want to leave the club and were happy to remain on reduced terms," said Glens chairman Aubry Ralph.
Meanwhile, midfielder Grant Gardiner has signed a new one-year contract.
Gary Hamilton, Daryl Fordyce and Shane McCabe were also listed by manager Scott Young.
Michael Halliday, Kyle Neill and Dean Fitzgerald were released after they were not offered new contracts.
Young promised that he would make changes after a disappointing campaign although trimming the wage bill was another factor behind his decision.
"This a magnificent gesture by the two lads concerned in these difficult times," Ralph told the club website.
"I cannot praise them highly enough for their honesty and commitment.
"It demonstrates a passion and a loyalty to the club and the manager and I salute them for it.
"It engenders the type of team spirit we are trying to build."
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