After weeks of negotiations a deal has been reached for the highly-rated winger, who swapped Sincil Bank for the Walkers Stadium in June.
Lincoln will receive an undisclosed sum up front and will collect more money based on a variety of clauses.
Imps chairman Steff Wright told the Lincolnshire Echo: "The talks have been very amicable between both parties, very professional and I am glad we have avoided a tribunal. I am certainly comfortable about the deal we have agreed with Leicester.
"It is a long process and it costs time and ourselves and Leicester were keen to avoid going down that route.
"The fact the deal has not been completed sooner is because the people involved have been away and that is the only real reason for the delay."