‘Modern Family’ Contracts Settled, Cast Finally Signs for Season 4

'Modern Family' fans can now breathe a tremendous sigh of relief, as the tense negotiations have ended and the entire cast has officially been signed for season 4.  Things got a little hairy there, but in the end all the "i's" have been dotted and season 4 won't miss a beat from production to premiere.  But the big question is, if $150,000 and episode wasn't enough for the six adult cast members, what did they end up getting?

According to Variety, the salary conflicts that prevented 'Modern Family' season 4 from moving forward with production have officially come to an amicable close.  The settlement comes just one day after cast members Ty Burrell, Jesse Tyler Ferguson, Eric Stonestreet, Julie Bowen, Sofia Vergara and Ed O'Neill agreed to participate in the first table read on good faith, following Tuesday's ugly incident where none but O'Neill show up, while the others filed a lawsuit against 20th Century Fox TV.  The suit has been understandably dropped.

So if the cast initially rejected the studio's offer of $150,000 a piece per episode, shooting for $200,000 instead, what did the sides ultimately settle for?  Not all details of the agreement have been released, but the estimate is that the cast will receive between $170,000 and $180,000 per episode, with escalation built in over the next few seasons.  Additionally, the cast agreed to contract themselves through an eighth season, one up from the original seven.

Furthermore, it's believed that the actors will each receive one-quarter of a point in back-end share.  Of course, that isn't much considering how much the show stands to make from syndication profits, but the victory comes more on principle as the cast wanted some stake in the show's profits.  The information of the deal reached 'Modern Family' co-creator Steven Levitan during the show's Television Critics Association press panel, who responded, "I'm very happy for my friends in the cast for their success.  I really am."

What say you?  Are you relieved that 'Modern Family' is officially locked down for season 4, plus the potential of an eighth season?  Did the cast earn their raise, following the bajillion Emmy nominations?  Give us your take in the comments below!