Guite, 28, began last season with AHL Albany before spending the second half of the year in Colorado. He played in 39 games for the Avalanche, scoring three goals and eight assists.
"Ben provided some quality minutes during our stretch run," said Avalanche GM Francois Giguere. "We look for him to continue his role on our team."
McCormick, 24, was selected 144th overall by the Avalanche in 2001. He played six NHL games last season before finishing the year in Albany.
He's scored six goals and 14 points in 95 career games for Colorado.
"Cody has almost 100 games of NHL experience," said Giguere. "He brings an element of grit and energy to our organization."