Workers are the General Motors assembly plant in Ingersoll voted in favour of a four-year deal in London, Sunday.
Under the new deal the 2,700 Unifor Local 88 members will receive a $3,000 signing bonus and an annual lump sum payments of $2,000 in each of 2014, 2015 and 2016.
The union and GM were also able to come to an agreement which protects current pension benefits for active workers and retirees.
Approximately 300 permanent, full-time jobs were also created in the deal.
“We’ve crafted an agreement that creates a much-needed sense of job and income security for our members and their families,” Unifor plant chairperson Mike Van Boekel said in a statement.
The union said members voted 90 per cent in favour of the new deal.