Lee agreed to an Exhibit 10 deal with the Cavaliers on Wednesday, Jon Chepkevich of DraftExpress.com reports.
Lee led the Seminoles in assists in his senior season at Florida State, posting averages of 11.6 points, 4.2 assists, 1.6 triples and 1.2 steals per game. He'll have a chance to compete for a roster spot during training camp, but it could prove tough to make the cut given Cleveland's depth at the guard positions.