The Symphony Exploratory Committee announced today it has reached a three-year agreement with musicians of the former Honolulu Symphony Orchestra.

Committee members approved the contract yesterday. Under the contract, full-time musicians will be paid $30,000 for 30 weeks in each of the next two years. Their salary will increase to $31,250 in the third year.

“This is the light at the end of the tunnel,” said Jonathan Parrish, spokesman for the musicians.

Last month the committee, a group of local business and civic leaders, obtained the orchestra’s assets with a bid of $210,000 at an auction.

Committee members will continue to explore venues for the musicians to perform, according to member Vicky Cayetano.

Musicians are slated to perform sometime in the fall.