James, a fifth-round pick, on Tuesday became the ninth of the team's 11 draft picks to sign. Financial terms were not disclosed.
The 5-foot-11, 218-pound James had 174 tackles in four seasons at Arizona State. He was chosen as the team's most valuable defensive player after setting a career high with 108 as a senior.
The Falcons have less than two weeks to reach agreements with Baker and Lofton before training camp opens July 26.
Copyright 2008 by The Associated Press