The Boeing Company and the International Association of Machinists and Aerospace Workers union agreed to a new contract to officially end the 7-week strike.

The approved contract offer includes a 38% raise over the next four years, a ratification bonus of $12,000 and expanded 401(k) contributions.

Boeing machinists have voted to end their 7-week strike, accepting the latest contract offer from the company. Striking members from the International Association of Machinists and Aerospace Workers accepted the proposed contract by 59%.