New Zealand Cricket have offered their players at international and domestic levels of the game a players' payment pool which in its first year will be worth $4.7million, an increase in monetary terms of $140,000.

Under the offer made today, from the overall pool, $2.7m would go to the international players' pool, $1.92m to the domestic players while $80,000 would go to a contingency fund.

This solution to the on-going contract wrangle between New Zealand Cricket (NZC) and the New Zealand Players' Association has been hammered out over the last three days and will be considered by the players before the parties meet again on October 22.

In the international pool, there will be 20 contracted players each year. The players would be ranked. The top three would be on retainers of $120,000, the next three on $100,000, the next four on $70,000, 11-15 on $50,000 and from 16-20 on $40,000.

As well, all players, contracted or otherwise, would receive $4500 per Test (up from $3000 for a home Test and $1750 for an overseas Test) and $2000 per One-Day International (up from $1500 per home ODI and $1250 per overseas ODI).

Non-contracted players would also receive an overseas tour allowance of $1000 per week.

Six New Zealand players earned more than $150,000 last year, and some were more than $200,000. Another six earned more than $100,000 and another two earned more than $90,000 without playing ODI.

Another nine players earned between $50,000 and $90,0000, six earned between $39,000-$50,000 and eight between $20,000-$31,000 while 25 earned between $15,000-$20,000.

Each of the Major Associations would be allocated $320,000 and, in effect, the payments have become something of a salary cap or equalisator for payments in each association. Each association would be required to contract no fewer than nine players while also having two rookie contracts.

The three highest-ranked players in each association would be offered a two-season contract. The ranking of players would be based on recent performance and future prospects.

These would be worth $22,500 for the first year with the second year depending on the players' worth to the side.

An additional $5000 would be paid each year if players in this category played eight State Championship matches in a year. If they also played eight or more State Shield games they would receive another $5000. That package would be worth $32,500.

There would be two lower-ranked groups on retainers of $15,000 and $7500 respectively for total packages that could yield them $25,000 and $23,000 respectively.

The rookie contracts would have a maximum value of $18,000.

Non-contracted players would receive $1000 for a State Championship match, $500 for the State Shield and $250 for the State Max.

NZC chief executive Martin Snedden said: "The Players' Association has raised a number of significant issues during the negotiations process to date which need to be addressed and we have acknowledged these and dealt with them through our settlement offer.

"NZC and the Major Associations recognise that it is important that domestic players earn a reasonable level of income during the domestic cricket season and as result the settlement offer also increases the amount of money available to pay domestic players."

"NZC has also recognised that a lack of security of income is a major issue for the players and has addressed that issue through the settlement offer by significantly increasing retainer payments for all levels of international and domestic players and by indicating a willingness to offer proven performers two year contracts," he said.