Nigel Wood will receive a severance payment of £500,000 from the RFL, according to League Express.
Reports suggest the former CEO will also take on a consultancy role on behalf of the governing body to advise it on applications to enter the professional RFL competitions from overseas countries, which resulted in Wood heading to New York to assess their application earlier this month.
It was revealed last year that Wood was earning a salary of £314,000 per year, up from a salary of £252,000 in 2015.
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