The Saskatchewan Union of Nurses website says the offer includes a two per cent lump-sum payment in lieu of a wage increase in the first year.
The union says that's because Saskatchewan nurses are already above the Canadian western average so it couldn't negotiate a pay hike in the first year.
There would be a two per cent wage increase in the second year of the deal.
The agreement also says regional health authorities would have to keep, as a minimum, the number of full-time equivalent nurses employed as of Nov. 1, 2007.
The agreement will run from April 1 to March 31, 2014, if it is ratified.