Yes, this counts as a free agent signing, though it is a bit different than the eleven other players the Colts have brought into the organization via the unrestricted free agent market.

Per his own Twitter handle, former Army standout Josh McNary has signed a contract with the Indianapolis Colts.

If you want to know who McNary is, see this 2010 NY Daily News write-up about him and Army prior to their nationally televised game against Rutgers:

McNary - a three-year starter who already holds West Point records for most sacks in a single game (4), single season (121/2) and career (18) - is the academy's first player to merit consideration for first team All-American since running back Mike Mayweather, who finished 10th in the Heisman Trophy balloting in 1990. McNary has flourished under second-year coach Rich Ellerson, who once coached Tedy Bruschi at the same position when he was an assistant at Arizona.

McNary had 2.5 sacks in Army's narrow defeat to Rutgers, 23-20.

In three years, McNary amassed 180 tackles and 27 sacks. Upon leaving West Point in 2011, he did what everyone else does when they leave West Point: He served in the United Stated Army. Because of his two-year enlistment obligation, teams could not draft him in 2011. Now that his service is concluded, he is in the NFL and part of the Indianapolis Colts.

At Army, he was listed at 6'1, 235 lb.