The Second City faculty reaches tentative deal to avert strike

CHICAGO (CBS) -- Just days before teachers at The Second City were set to go on strike, their union has reached a tentative contract agreement at the famed Old Town comedy theater, and called off plans to hit the picket lines on Tuesday.

An 11-hour bargaining session with The Second City management on Friday resulted in a tentative deal that must be approved and ratified by the union, the Association of International Comedy Educators (AICE), which is part of the Illinois Federation of Teachers, announced on Saturday.

Terms of the tentative agreement were not immediately announced.

AICE had been seeking better wages, a more manageable workload, and assurances that their union contract will be honored if the company changes hands in the future.

In December, 85% of the union's members voted to reject the "last, best, and final" offer from management, following two years of negotiations, saying in part that the pay raises that were offered barely kept up for inflation over the past 6 years, during which the teachers had not received any raises.

The union authorized a strike in December, and voted earlier this week to set a strike date for Tuesday if the company didn't offer a fair contract by then.