The boards of the Writers Guild of America West and East approved the guild’s new three-year contract with the Hollywood studios, represented by the Alliance of Motion Picture and Television Producers (AMPTP). The contract, which represents $130 million in increases, will now move to the 13,000 members of both guilds to be ratified.

The WGA and AMPTP came to an eleventh-hour deal early Tuesday morning after nearly two months of negotiations, marked by several periods of silence.

RELATED: Writers Strike Averted in Eleventh-Hour Deal

The new contract calls for increases in guild salary minimums, as well as increased employer contributions to the guilds’ health plan, reports Deadline.

It also creates a new pay formula for short-order TV shows and limited series, which can run only 10 to 13 episodes but take up as much of a writer’s time as a full 22-episode series. The new formula pays writers an episodic fee per every 2.4 weeks of work. Work done beyond that period of time will require additional pay from producing studios.

Other key points include a 15 percent increase for writers’ pay-TV residuals, job protection for parental leave and residuals for comedy-variety (think HBO’s Last Week Tonight with John Oliver) writers working on pay-TV shows.

READ MORE: Deadline, Variety

[Image courtesy of Variety]

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