SK Hynix's (SKHY) tentative wage agreement with the South Korean union received the backing of 57.08% of union members, with 8,731 votes in favor, the chipmaker said Wednesday in an emailed statement.

The revised agreement follows two weeks of negotiations after the initial deal was rejected on Aug. 25, the company said.

The agreement covers production workers' union at SK Hynix facilities in Icheon and Cheongju, South Korea, multiple media outlets reported Wednesday.

SK Hynix said the revised agreement gives greater flexibility in choosing the form of performance bonus payments, with the share of profit-sharing bonuses paid in cash increases to 50% from 40%, while the portion paid in company shares decreases to 50% from 60%.

The employees can also choose to receive the cash portion in shares in 10 percentage-point increments, allowing them to receive their entire performance bonus in shares, the company added.

The agreement also formalizes wage deferral in the event of a loss, the company said.

Shares of the company were up 3% in recent Wednesday premarket activity.