Striking Boeing workers will vote on a new contract offer from the company, which proposes a 38% pay increase over the next four years. The International Association of Machinists and Aerospace Workers (IAM), representing over 30,000 striking employees, has endorsed the offer and scheduled a vote among its members for Monday.

The strike began on September 13, significantly slowing Boeing’s production and intensifying challenges for the company. The union had previously demanded a 40% pay hike, rejecting two earlier offers, including the last one of 35%.

In addition to the pay increase, the latest proposal includes a $12,000 bonus for each worker if the contract is approved, up from the previous $7,000. “It’s time for our members to secure these gains and celebrate this achievement,” IAM stated on social media, adding that further strike action would be unnecessary given the progress made.

Boeing, which estimates the new offer will raise average annual pay to $119,309 over four years, also included enhancements to retirement plans as part of the package. In a statement, Boeing encouraged employees to review the details of the offer and vote on November 4.