As revealed in later editions of yesterday's Evening Times, Talks between Unite and operators SPT continued last week as strike action loomed with today's ballot deadline.
Unite negotiators came to an agreement with SPT bosses and will today call off the action formally.
Eddie Duffy, Unite regional industrial officer, said: "The Subway have offered a £150 payment to anybody who is involved, or who is flexible, for example those who have to change shifts or come in and do extra work which is not in the contract of employment.
"Everyone who works overtime during the Games will be paid an extra £5 per hour on top of their overtime rate.
"The second element was the shift work in the engineering department and we have come up with a shift format that is acceptable to the members there as well.
"There is a consensus by the members that this is acceptable, so we are going to write to the company saying the action will be called off."
An SPT spokeswoman confirmed that an agreement with Unite had been reached and the ballot called off.
She added: "We are concentrating on making sure that all Subway passengers, old and new, have the best travel experience possible during the Games."
Talks over pay for bus workers are believed to have not been so successful, with Unite saying it has reached a "stalemate" with transport firm First Group.