Knebel, 29, was acquired from Milwaukee on Dec. 2 ahead of the deadline for teams to offer 2021 contracts to unsigned players on their 40-man rosters. He earned $1,898,148 in prorated pay last year from a $5,125,000 salary.
Knebel was an All-Star in 2017 and a key part of the Brewers' bullpen during their run to the 2018 National League Championship Series. The right-hander missed the 2019 season with a torn ulnar collateral ligament in his pitching elbow and struggled after returning last season.
Knebel's best season came in 2017, when he went 1-4 with 39 saves and a 1.78 ERA in 76 appearances. He had a 6.08 ERA in 15 games last season.
The 2013 first-round draft pick has a career ERA of 3.31 with 57 saves in 239 relief appearances. He pitched eight games for Detroit in 2014 and had been with Milwaukee ever since.
Floro, 30, was 3-0 with a 2.59 ERA in 25 relief appearances last year and had a 5.06 ERA in six postseason appearances for the World Series champions. He earned $219,815 in prorated pay from a $593,500 salary, and he was eligible for arbitration for the first time.
Five players remain eligible to exchange proposed arbitration salaries with the Dodgers on Friday: outfielder/first baseman Cody Bellinger, shortstop Corey Seager, right-hander Walker Buehler, catcher Austin Barnes and left-hander Julio Urias.