[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/POLITICS/04/26/money.uaw.chrysler/art.chrysler.afp.gi.jpg caption="Chrysler, in talks to merge with Fiat, had an April 30 deadline to come up with a viability plan."]
(CNN) - The United Auto Workers union announced Sunday it had reached an agreement with Chrysler, Fiat and the U.S. government that meets the requirements of the Treasury Department for loans to the auto giant.
In a statement, the UAW said the deal was still subject to ratification by union members at Chrysler.
The "painful" concessionary agreement, the UAW said, "includes modifications to the union's 2007 collective bargaining agreement and the Voluntary Employee Beneficiary Association (VEBA) trust."
Union members must approve the deal by Wednesday, the statement said.