(ABC 6 News) — An arbitration ruling has been reached for 1600 SEIU members at Mayo-Saint Marys following a contract dispute with Mayo Clinic.

Related: Service union members vote for right to strike in Mayo Clinic negotiations

After the two sides were unable to reach an agreement last year, the decision was moved to binding arbitration to decide the parameters of the new contract.

The process concluded with a three-person arbitration board, which announced its decision Friday after months of deliberation.

The new agreement includes wage increases over the term of the contract between 16.5-41% while including a new minimum wage of $20 per hour that will increase to $21.74 per hour in the third year of the contract.

Workers will also see back pay awards of up to $10,000 depending on the number of regular and overtime hours worked in the past 12 months.

The agreement also includes a cap on mandatory overtime hours at 18.

SEIU members and leaders will hold a press conference outside Saint Marys on Saturday morning at 11 a.m. responding to the news. ABC 6 News will be there to cover the press conference.

Mayo Clinic offered the following statement:

“Mayo Clinic has a new collective bargaining agreement in place with approximately 1,800 staff represented by the Service Employees International Union (SEIU) at our Mayo Clinic Hospital, Saint Marys Campus following a series of negotiation sessions and arbitration. While we believe Mayo Clinic and SEIU would have reached similar results around key issues much sooner had SEIU allowed the bargaining process to continue, we are focused on moving forward with our shared goal of providing world class patient care. We value and appreciate our staff for their contributions.”