The deal is worth $21 million over four years, including a $6-million signing bonus, according to Chris Tomasson of the St. Paul Pioneer Press.
Munnerlyn recorded 55 tackles and a forced fumble in 15 games with the Minnesota Vikings last season.
This marks his second stint with the Panthers, after spending the first five seasons of his career with the organization.
Copyright © 2017 Score Media Ventures Inc. All rights reserved. Certain content reproduced under license.