"We are grateful to council for helping us reach an outcome that's fair for all parties."
NZ Bus is committed to being a responsible and successful employer and public transport operator for the long-term, Zmijewski said.
Tramways Union members voted to reject the last pay offer from NZ Bus in May, which included a one-off incentive payment of $10,000 for those employed for five years or more - all other drivers would get $5,000.
The agreement also kept the provision of five weeks' annual leave for all existing staff and increased the base hourly rate for drivers with at least six months' experience to $24 per hour.