of course it is. You are removing someone from their role.
Whether it is dismissal with or without notice or via a settlement agreement, the end result is the same. Paying someone off is a commercial decision made to reduce financial and/or reputational risk to the organisation.
Many football managers are referred to as 'sacked', when in fact, they have been paid the value of the remainder of their contract.
“Other clubs never came into my thoughts once I knew Arsenal wanted to sign me.”
"Plenty of strikers can score goals," he said, gesturing to the famous old stands casting shadows around us.
"But a lot have found it difficult wearing the number 9 shirt for The Arsenal."