David Moyes has agreed a compensation settlement with Manchester United after being sacked only 10 months into a six-year contract, the League Managers' Association (LMA) said.
Media reports said he would be entitled to one year's salary, believed to be up to 5 million pounds ($8.40 million).
"The League Managers Association and Manchester United are pleased to confirm that terms of settlement have been agreed between the Club and David Moyes in respect of the termination of his employment," the LMA said in a statement on Friday - Moyes' 51st birthday.
Moyes was reported to have been annoyed to learn of his impending sacking from the media on Monday rather than the club, who dismissed him at an early-morning meeting on Tuesday.
($1 = 0.5953 British Pounds)
(Writing by Steve Tongue, editing by Ed Osmond)