The MLB has agreed to the new posting system. From MLB.com's Paul Hagen:
Major League Baseball and Nippon Professional Baseball have reached an agreement in principle for a new posting system that will govern how Japanese players who haven't reached free agency in their native country will play in the United States. The remaining hurdle, which is considered a formality, is ratification by MLB's executive council and Japanese owners.
... Under the arrangement, there will be a limit of $20 million on any bid by teams interested in signing a Japanese player. If more than one team reaches the maximum, the player is free to negotiate with any team that reached the cap.
... One NPB official predicted that announcement will happen shortly.
"You can ask the MLB people, but probably sometime next week," the source said. "Not this week at any time. Probably next week. I think tentatively between MLB and NPB, we have a deal in place. But the owners both here and there have to ratify the agreement."
Source: MLB.com 12/10/2013
The NPB will likely provide their final approval during an executive committee meeting on the 16th (Japan time).
According to Sorts Hochi, the new agreement might also includes a section on penalties for teams that get caught trying to make work around the new system.
Source: Sports Hochi 12/12/2013