Seward, 26, was the Panthers' fifth-round draft pick in 2005 out of UNLV. He played in 40 games, primarily on special teams, and had two starts at the linebacker position.
He had 45 career tackles while battling injury problems in Carolina. Last season saw him miss seven games due to an ankle injury.
Linebacker Adam Seward became the Panthers' fourth unrestricted free agent to sign on another team.
The other three players to find work elsewhere are offensive lineman Frank Omiyale (Chicago), kick returner Mark Jones (Tennessee), and offensive lineman Geoff Hangartner (Buffalo). Tackle Darwin Walker, linebacker Donte Curry, and long snapper Jason Kyle make up the rest of the Panthers' unsigned free agents.