CHARLOTTE, N.C. (AP) -- The Carolina Panthers signed top draft choice Chris Terry on Monday, marking the earliest in the team's five-year history that it has landed its No. 1 pick. The team would not disclose financial terms of the four-year deal, but sources who spoke on the condition of anonymity said the package is worth nearly $3 million. Carolina, which did not have a first-round pick in last month's draft, used its second-round selection, No. 34 overall, on the 6-foot-5, 295-pound Terry. He went to Georgia as a defensive tackle but was switched to offense, a move that led to him being named a second-team All-America and a first-team All-Southeastern Conference selection last year. The Panthers have had trouble in recent years signing their top draft choices. In two of the last three seasons, their first picks never even made it to training camp. Running back Tshimanga Biakabutuka never made it to camp in 1996, and defensive end Jason Peter missed all of camp last year. First-year coach George Seifert, who has said Terry will be given a chance to be a starter as a rookie, called Monday's signing a step in the right direction. ``Any time you are venturing into a new endeavor, it is an advantage to be working at it from the beginning,'' Seifert said. ``If you are a rookie player, it is in everyone's best interest to be at camp, and this helps Chris start on a positive note. I also think it says that he wants to get off to a good start.'' The Panthers also announced Monday the re-signing of free agents Fred Lane, a reserve running back, and Ken Walter, their starting punter last year. Lane, who led the Panthers in rushing last year with 717 yards before losing his starting job to Biakabutuka, signed a two-year contract. Walter, who was second in the NFC with a 38.1 yard net punting average last season, signed a one-year deal. He will be challenged in camp this year by Klaus Wilmsmeyer, an unrestricted free agent who joined the Panthers from Miami in the offseason. The Panther begin two weeks of summer coaching sessions next week, their final activities before reporting to training camp in late July in Spartanburg, S.C. -=-=- 