OK, here are the parameters of how Urbina can be traded:
He cannot be moved until after June 15th because he is in Texas on a one-year deal (as opposed to a multi-year deal). That has nothing to do with his specific contract, but with baseball's collective bargaining agreement, to keep players from getting dumped too early.
He has a limited no-trade clause, but the Yankees are not one of the teams listed. Thus, he cannot stop the trade even if he wanted to. The fact that he is not a 10-5 player has nothing to do with no trade protection in his contract (the two different issues are apples and oranges)
The 10-5 rule has no applicability here whatsoever. In this era of free agency there are very few 10-5 players (meaning that the player has 10 uninterrupted years of major league service, and has spent the last 5 playing for the same team). For instance, Mike Piazza JUST became a 10-5 player last month on the 5 year anniversary of his original trade to the Mets (it doesn't matter that he's on a different contract now than when he arrived). When you are a 10-5 player, you have to approve ANY trade, regardless of the terms of your individual contract. Urbina, who was with a different team LAST year, would not be a 10-5 player unless he stayed with Texas until the beginning of the 2008 season.
That being said, I think trade negotiations will go into full force next week (once June 15th is in the past), and there could be an announcement as early as June 16th. So, unless your league counts holds, trade him quick if you can get anything of value in return.