Kovacs, 24, signed on with Miami as an undrafted free agent out of Michigan back in 2013. He had a brief stint with the Eagles before returning to the Dolphins in November of last year.
In 2014, Kovacs appeared in eight games and recorded seven tackles.
Francis, 24, signed on with the Dolphins as an undrafted free agent out of Maryland back in 2013. He has yet to appear in an NFL game and was set to be an exclusive rights free agent in the coming days.