Tolbert, who had one year remaining on his contract, spent the last five seasons in Carolina, functioning primarily as a short-yardage back and receiving option out of the backfield in addition to his responsibilities as a blocker. He was named to the Pro Bowl three times during his Panthers tenure.
“I feel very fortunate to have coached Mike for nearly his entire career,” head coach Ron Rivera said. “He was someone we targeted in 2012 because we felt he would be a good addition to our offense and he was very productive for us. He brought great energy and leadership to our locker room and I wish him the best.