The town of Framingham will make a compensation payment of $3.75 million to the family of Eurie Stamps, the man tragically killed by police in an accidental shooting in 2011.

Stamps, who was 68 at the time, was shot dead by a Framingham police SWAT team during a drug raid. He was a retired MBTA worker and had 12 grandchildren.

The settlement agreement came from the town’s insurance underwriter and legal counsel under the Massachusetts Interlocal Insurance Association as agreed upon by the Stamps family and town officials, according to a statement released by the town.

The Framingham Police Department has disbanded its SWAT team since and is working toward a police body camera pilot program and arming officers with Tasers as an alternative to firearms.