Sporting director Frank Arnesen commented: "Andy Reid is a well-known Irish international. He's a very good player and the type of player we don't have in the squad.
"He can play as a left winger, down the right side or just behind the striker so his arrival complements the squad. He's a good footballer with a nice left foot and a technical player who can read the game well.
"Michael Dawson is a great prospect, has captained England Under-21s and outside his obvious playing talents, has a leadership quality in his personality.
"Once again these are young players who will not only add to our squad now but will take us forward in the next couple of years."
The club is delighted to announce that Andy Reid and Michael Dawson are to join the club subject to the completion of formalities, medicals and agreeing personal terms.