There was no monetary settlement attached to the agreement that began when franchise owners said they would lose money if they included a double cheeseburger on the value menu, The Miami Herald reported.
The corporation attempted to force franchise restaurants to sell the double cheeseburger for $1 from October 2009 through April 2010, the newspaper said.
The new policy gives franchise owners more power in deciding what is included in the value menu, but the terms of the agreement were not released, the company considering that proprietary information.
"Burger King is still going to be able to set prices," the president of Burger King North America, Steve Wiborg, said. "When it comes to the value menu [however], it's going to be about inclusion and getting certain votes from the franchisees."
Tony Versaci, president of the National Franchisee Association, noted the corporation had been making unilateral pricing decisions.
"There's some fail safe and procedures that are going to prevent that from happening in the future," he said.