SLC officials and player representatives thrashed out a deal over the last two days that ended four months of negotiations, amid growing resentment by the country's top cricketers.
"The meetings ended amicably and they agreed to our request related to the annual fees, match payments and player welfare," said Graeme Labrooy, the secretary of the Sri Lanka Cricketers' Association.
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The deal, which will be signed next Wednesday, raises the Test match fee from 3,500 dollars to 5,000 dollars, while the fee for one-dayers and Twenty20s will increase from 1,800 dollars to 3,000 dollars.
Under the new contracts, there is a freeze on annual retainers for senior team members, but substantial increases for junior players on the national squad and the A team.
"Sri Lanka Cricket was keen to give an increase to junior players and also encourage non-contracted players by making the match fees the same for all," Labrooy said.
Cricketers will be allowed to write articles and have media contra