Lincoln City winger Gavin McCallum, 24, has left the Blue Square Bet Premier club by mutual consent.
The Canada international made 56 appearances after joining the Imps in June 2010 but featured only once under current boss David Holdsworth.
Holdsworth told BBC Lincolnshire: "It would be doing the fans a disservice at any club if you had players who were not 100% committed to the cause.
"If I feel a player is not committed then I will not play him."
McCallum's future had been in doubt after he was omitted from the matchday squad for Saturday's Blue Square Bet Premier defeat at Kettering, despite the Imps having only one fit striker in Richard Pacquette.
Holdsworth added that the money saved from terminating McCallum's contract would in part go towards bringing in other players.
"The deal with Gavin has allowed me to provide the club with a saving," said the Imps' manager.
"I will spend some of it but likewise it's important that the club remains stable.
"I'm working on bringing in on one or two, maybe a third if possible. But in the financial structure I'm dealing with that would depend on other clubs helping us."