The local union leaders on the United Automobile Workers (UAW) National Ford Council have overwhelmingly approved the proposed tentative agreement with Ford Motor Company on Monday, according to a press release issued by UAW.

The tentative agreement with Ford is slightly richer compared to the deals that UAW has secured with Fiat Chrysler Automobiles and General Motors Co (GM).

UAW said in the press release that the tentative agreement with Ford includes the automaker investing $9 billion in new investments in the U.S, which would result in 8,500 new or secured jobs.

It also includes traditional members of UAW bringing home more than $30,000 in wage and bonuses, with production workers bringing home $31,013, and skilled trades bringing home $33,598 over the course of the contract.

UAW adds in the press release that the wage increase is the first general increase for traditional members in 10 years.

The tentative agreement also includes an $8,500 signing bonus for traditional and in-progression members and $2,000 for temporary employees with 90 days of employment.

Dennis Williams, the president of UAW, said in the press release that they are looking forward to the conversation with their members as they will have the final word on the tentative agreement.

"We worked hard to secure an agreement that provides a clear path to traditional wages for all members and substantial raises for traditional members for the first time in 10 years," he said.

The New York Times adds that the deal with Ford mirrors the agreements with GM and Fiat Chrysler, including the provision that entry-level workers would eventually achieve wage parity with veteran employees.

Ford's deal, though, is slightly better than the two automakers as Ford employees' gets $8,500 signing bonus compared to $8,000 for GM workers and as much as $4,000 for Fiat Chrysler workers.

Harley Shaiken, a professor at the University of California, Berkeley, told The New York Times that workers at Ford were rewarded for the company's long-term performance.

"It is a modestly richer agreement that reflects the fact that Ford did not slip into bankruptcy and has had somewhat stronger results in recent years," he said.

UAW said in the press release that the tentative agreement will now go to UAW Ford members for the final vote.