Burress still will have to sit out the team-mandated one-game suspension against Seattle on Sunday.
The two sides worked over the weekend on an agreement, Richard Berthelsen, the interim executive director of the NFL Players Association, said during a visit to Giants Stadium on Monday.
"We are in the process of completing a settlement relating to several issues involved in the Burress matter," the players association said in an e-mail late Monday.
Berthelsen had said earlier in the day he believed the dispute had been resolved, but there were some legal issues still to be settled.
Berthelsen also said he does not think the receiver who caught the winning pass in the Super Bowl will face league disciplinary action for failing to report two domestic violence incidents earlier this year.
CBS reported on Sunday that the league was investigating Burress' off-the-field problems. The league can suspend players for violating its personal conduct policy.
"There's no basis for that, that I'm aware of," Berthelsen said. "There hasn't been any discussion of the personal conduct policy in the case we're discussing."
Burress' wife Tiffany obtained two restraining orders against him earlier this year, but they were later thrown out by a state court, Totowa Police Chief Robert Coyle said Monday.
"There haven't been any problems since," Coyle added.
The Giants on Wednesday suspended Burress for a game and told him to stay away from the team until Oct. 5. Because the ban came during a bye week for New York (3-0), the punishment cost the nine-year veteran two checks, or roughly $235,000. He makes a base salary of $2 million.
Agent Drew Rosenhaus appealed the suspension to the players association.
Jason Rosenhaus said his brother was taking a flight and was not immediately available for comment. Drew Rosenhaus did not immediately return an e-mail seeking comment.
"The Plaxico situation is right where it has been," coach Tom Coughlin said after practice on Monday. "There is nothing more for me to add to it."
Berthelsen was at Giants Stadium on Monday to preside over the election of a player representative to the association.