According to the manager, Mike "The Situation" Sorrentino "believes he and MTV have reach [sic] a great new arrangement." No mention of dollar amounts, but interestingly, the manager says the deal was sealed (though he never says it's been signed) with MTV, and not JS producers 495 Productions.
TMZ broke the story ... MTV offered The Sitch anywhere between $27,500 to $45,000 per episode over a period of time -- he was making $10k for season 2, so not bad.
But move over Moses -- Sitch's manager says, "Mike decided in order to get season 3 done he was going to have to lead the pack and wants to encourage the rest of his cast to follow his lead."
MTV had no comment about a new contract for "The Situation." We're betting his castmates will have plenty to say about it.