As part of the agreement, which runs to July 1, 2015, there will be a collective salary increase of 2.5% effective (March 1, 2014) and a 1.75% (January 1, 2015) increase for employees up to grade 70.
"Starting in 2015 for grade 80 and 90 the collective increase will not be applicable. The salary increase for the higher grades will be based on the employees contribution and position in the salary range," said NXP.
There was also agreement that the bonus scheme for grades up to 45 will be converted to 1% fixed salary by September 1, 2014.
Over the next 2 weeks the trade unions will consult their members on whether they can accept the result.
NXP said it offered the unions to still be able to "collectively opt for the new NXP global bonus plan instead before May 1st after they consulted their members on this topic".
"The negotiation result addresses the adjustments of salary grades based on market data rather than a collective increase, a 1% increase of the employee contribution for the pension plan and the establishment of a training and development budget to support employees and strengthen their employability," said NXP in a statement.