(CNN) -- Real Madrid will name Jose Mourinho as their new coach on Monday after the Spanish giants confirmed they had agreed a compensation package with his current club Inter Milan. 

Mourinho, who led the Italian Serie A side to an unprecedented treble this season, will now be released from his San Siro contract -- which ran until 2012. 

The Portuguese, who has guided both Porto and Inter to Champions League glory, will be presented at 1:00pm local time on Monday in succession to Manuel Pellegrini -- who was sacked on Wednesday. 

Blog: Mourinho will bring magic to Madrid 

Mourinho reportedly had a release clause which meant Inter were to receive 16 million euros should he depart the club. 

A joint statement from the two clubs read: "Presidents Massimo Moratti and Florentino Perez met on Friday and, In light of the excellent and constructive relations between the two clubs, an agreement was reached on the contractual clause that binds Jose Mourinho to FC Internazionale. 

"The time and the manner by which the agreement will be honored has been defined. Massimo Moratti thanks Florentino Perez for his willingness to join him in Milan and for his courtesy, which confirms the strong links between the two clubs." 

Moratti had earlier told reporters that he was unwilling to compromise with Real on the subject of the release clause. 

"Mourinho has been spectacular, intelligent, brave and we acknowledge that," said Moratti. "This doesn't take away the fact that there is still an issue regarding the negotiations with Mourinho and with the club that wants him.  QUESTIONS:

Q1:
1. Who is president of Real Madrid?
2. Who oversees Real Madrid?
3. Who is in charge of Real Madrid as an organization?
Q2:
1. Who will be the new coach of Real Madrid?
2. Who is set to become the coach of Real Madrid?
3. Who has been chosen to serve as coach for Real Madrid?
Q3:
1. Who is Jose Mourinho becoming coach of?
2. What team will Jose Mourinho be coaching?
3. What team is Jose Mourinho set to lead?
Q4:
1. What country is Jose Mourinho from?
2. Where does Jose Mourinho come from?
3. What is Jose Mourinho's country of origin?
Q5:
1. What other teams has Jose Mourinho coached?
2. Where else has Jose Mourinho served as coach?
3. What are the two other teams that Jose Mourinho has coached?
Q6:
1. Was Jose Mourinho allowed to look for a job unrestricted?
2. What were the conditions of Jose Mourinho's job search?
3. Under what terms was Jose Mourinho permitted to look for a new job?
Q7:
1. Who is Jose Mourinho replacing?
2. What coach is being replaced by Jose Mourinho?
3. Who is Jose Mourinho taking over for?
Q8:
1. What happened to Manuel Pellegrini?
2. What did Real Madrid do to Manuel Pellegrini?
3. How did Manuel Pellegrini leave Real Madrid?
Q9:
1. Where is Manuel Pellegrini going?
2. To what country is Manuel Pellegrini moving?
3. What country is Manuel Pellegrini leaving for?
Q10:
1. When did Jose Mourinho's contract with San Siro end?
2. Until what year was Jose Mourinho under contract with San Siro?
3. When was the contract between San Siro and Jose Mourinho terminated?
