Owner Mike Ashley has agreed to pay the Newcastle squad a £4m bonus if they avoid relegation while offering £20m to win the FA Cup.
The Toon players are said to have been unhappy with the bonus scheme previously in place and had called on Ashley to improve the terms of the agreement to bring it more in line with other clubs.
It is understood the squad will now share £4million if they manage to stay in the Premier League this season and the pot will increase by £1million for every place they finish higher than 17th.
In addition, Ashley has offered a further £20million should they win the FA Cup - something the Magpies have not managed since 1955.
In past years in the top flight, bonuses for all club staff have been dependent on the team finishing in the top 10 - something they have not achieved since the 2013-14 campaign.