It includes a 13.25% increase in salary and protects their guaranteed retirement benefits, with no increases to the cost of musician health benefits.
The new agreement preserves guaranteed minimum retirement benefits for current musicians and commits to providing retirement security for new hires.
On Friday, Mayor Rahm Emanuel released a statement that said after convening at City Hall, both the CSO musicians and management had reached an agreement in principle.
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The Musicians will continue to play the previously scheduled three free concerts for the public in its ongoing series, "From the Heart of the Orchestra," at venues across the city and the suburbs. The concerts include the entire Orchestra on April 30 at Steinmetz High School and a string quartet on May 3 at the Garfield Park Conservatory.