I wonder if the Panthers will use theirs on Brian Campbell. Sure, he fits the system pretty well, but that $7 million plus could be huge to have back, if not this year then next season.
As for the Caps, I am not sure who they would use this on. Only possibly "bad" contract I see is Brooks Laich at $6.5 million, but he's one of the toughest players, a leader, and one who fills a variety of positions/roles on the team.
I highly doubt they would cut a guy who lead the league last year in PP points and in reality he's only got 4 seasons left at that cap hit so its not that bad for a team with a bunch of rookies on it.