The package - agreed by the 12-member Board of Toronto 2015 -  includes a cash payout of $478,000 (£293,000/€354,000) legal fees of $3,500 (£2,148/€2,591), payments for outplacement of $10,000 (£6,135/€7,400) and health benefits for the severance period of $15,800 (£9,692/€11,691).

He will also get a deferred payment of $27,300 (£16,749/€20,201) towards his pension.

The decision to axe Troop followed ongoing tensions between organisers of the Pan American and Parapan Games and the Ontario Province,which is responsible for the operational costs of the Games that will bring more than 10,000 athletes and officials from the continent to take part in 36 Pan Am and 15 Parapan sports.

There was anger that Troop had billed Ontario taxpayers $0.91 (£0.52/€0.63) for parking and $8,561.19 (£4,965.24/€5,884.83) for a Mexican hotel and cocktail party, while other expenses included $1.89 (£1.10/€1.30) for a cup of tea.

"We have reached a severance agreement with Mr. Troop that satisfies both parties and are releasing these details today," said Courtney Pratt, chair of the Toronto 2015 Human Resources Committee.

Troop, a long-time food and consumer-goods executive with extensive experience in sports, had joined Toronto 2015 as chief executive in February 2010.

"The costs arising from this agreement will be absorbed into the Games' overall budget," said David Peterson, chair of the Toronto 2015.