The deal gives employees with special duties during the Olympics additional pay of Ã‚Â£3.50 per hour. This applies to about 800 staff and worth about Ã‚Â£500 over the period.
Also part of the agreement is a guarantee not to dismiss any staff during the Olympics period, and that any outstanding or new pay dispute is automatically referred to Advisory, Conciliation and Arbitration Services (ACAS) and no industrial action can take place while still in the ACAS resolution process.
David Higgins, chief executive at Network Rail, said: “This is great news for the millions of people who will use the trains to enjoy the Olympics.
“Travellers get certainty that their journeys will not be disrupted by industrial action during the games and our staff get a fair deal linked to inflation and recognition of the vital role they will play in making this once-in-a-lifetime event, a success.”