The multitalented offensive player agreed to a four-year contract worth about $15 million Thursday, Smith's agent, Mark Bartelstein said.
Smith was a free agent after spending his first five NFL seasons with the New York Jets, with whom he was a threat as a receiver, rusher and making the occasional pass while taking snaps out of the quarterback spot in Wildcat formations.
Smith even threw his first and only career touchdown pass -- a 3-yarder to Dustin Keller -- in a 38-14 win at Buffalo last October.
It's that type of versatility that should complement Bills coach Chan Gailey's wide-open offensive philosophy.
"I think it's a great fit," Bartelstein said. "He'll bring a real dynamic factor to that offense."
"The more he thought about it, the more he thought what a great opportunity this was," Bartelstein said. "It was time for a change and him wanting to be able to control his situation, other than waiting for something he couldn't control."
Smith was excited with the deal.
Under NFL rules applying to all veteran free agents, Smith and Florence aren't allowed to sign their contracts until Friday. That's the same day Bills players are set to report for the start of training camp in suburban Rochester.
Smith is a dynamic player, who was a star quarterback at Missouri before being selected by the Jets in the fourth round of the 2006 draft.
For his NFL career, Smith has 557 receiving yards, 767 rushing yards and 51 passing yards. He's also a special-teams threat in returns and coverage. Last season, Smith returned two kickoffs for touchdowns.
Entering his second year as coach, Gailey toyed with using the Wildcat during training camp last summer. The Bills hardly used it during the season. Smith's presence is expected to change that, joining a roster filled with speedy threats, including running back C.J. Spiller and receiver Roscoe Parrish.
Drafted 245th overall out of Bethel University in Tennessee, Jasper is listed at 6-foot-4 and 385 pounds. Though he played offensive guard in college, the Bills are planning to convert him into a defensive tackle.
Jasper is the first of Buffalo's nine rookie draft picks to sign.
The Bills also announced signing 19 undrafted college free agents, including cornerback Domonic Cook out of Buffalo.
Also signed were: defensive backs Rajric Coleman (Utah State), Sidney Glover (West Virginia), Loyce Means (Houston), Doyle Miller (Nevada-Reno) and Joshua Nesbitt (Georgia Tech); linebackers Robert Eddins (Ball State), Brandon Hicks (Florida) and Brad Jefferson (Georgia Tech); running backs Emmanuel Moody (Florida) and Vai Taua (Nevada-Reno); receiver Kamar Aiken (Central Florida), defensive end T.J. Langley (Arkansas Tech), tight end Zack Pianalto (North Carolina), center Michael Switzer (Ball State), guard Isaiah Thompson (Houston), punter Reid Forrest (Washington State), kicker Chris Hazley (Virginia Tech) and long-snapper Danny Aiken (Virginia).
Copyright 2011 by The Associated Press