The confidential settlement also covers Michaels' claims against CBS Broadcasting, which aired the show and the mishap, which became which a viral video watched by tens of millions online. The Poison frontman blamed the network for airing the moment and claimed Tony Awards producers never warned him there would be a set change after he and his band performed "Nothin' But a Good Time."
The whack initially left Michaels with a busted lip and broken nose, but also caused brain bleeding. He was hospitalized in April 2010 and doctors found he had a brain hemorrhage and he later suffered a warning stroke, which the musician says nearly killed him.
Michaels' attorney Alex Weingarten said details of the settlement would not be released. "Mr. Michaels would like to thank his fans for their continued support," he wrote in a statement.
Michaels sued in March 2011 in Los Angeles, but a judge later moved the case to New York City. The agreement came after a mediation session was held on Friday.
Emails seeking comment from CBS and publicists for the Tonys were not immediately returned.
The musician and reality television star did not state how much he was seeking when he sued, but stated the injury hurt his ability to perform at later shows.
(Copyright 2012 by The Associated Press. All Rights Reserved.)