Todman was selected in the 6th round of the 2011 NFL Draft by the San Diego Chargers. After a brief stop in Minnesota he landed in Jacksonville where he played three seasons for the Jaguars. He was used in a limited role, but performed well when given opportunities, especially in 2014. Todman averaged 5.8 yards per carry, and was helpful in the passing game too, where he averaged 7.9 yards per reception.
The true value of this signing is in Todman's ability on special teams. He has returned 68 kicks in his career at an average of 25.9 yards per return. This will take the pressure off Fozzy Whittaker to be a rotational running back AND a kick returner, letting Todman take some of his role.
What remains to be seen is whether signing Todman and adding to the RB corps will have an impact on the Panthers' draft plans. They've been heavily linked to Georgia rusher Todd Gurley, and perhaps these signings tips the team's hand that they'd rather address other positions and simple diversify their stable in 2015. It's not a terrible idea given Jonathan Stewart has plenty left in his legs and Whittaker broke out in 2014, though it might be a touch disappointing.