Peppers, 34, is an eight-time Pro Bowler who was coming off his fourth season in Chicago. He signed there from the open market in 2010 after eight productive years with the Carolina Panthers, who drafted him second overall in 2002.
He has 119.5 career sacks, 38 in his time with the Bears. Peppers joins fellow aging pass rushers DeMarcus Ware and Jared Allen as available to sign with anyone in 2014.