That left the ball in the court of House of Cards production company Media Rights Capital.
Filming on the sixth and final season of the political drama was halted last month (Nov17) following claims Spacey had sexually harassed several co-workers on the show.
He added that the agreement would benefit the 2,000 people in Baltimore who have worked on the show.
Anthony Rapp, the actor who was the first to come forward with allegations against Spacey, had been receiving vicious messages online by angry House of Cards fans, who were anxious because of Rapp's revelations that the show would be canceled altogether. Each of the previous season have comprised 13 episodes.
When the fifth season of the Emmy-winning show came to a close, fans watched as Wright's character, Claire Underwood, declared, "My turn".More news: Syrian state media: Israeli missiles strike near Damascus
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The happy HoC news was confirmed by Netflix exec Ted Sarandos Monday at a media conference in NYC.
Netflix followed suit, stating it would 'not be involved with any further production of House Of Cards that includes Kevin Spacey'. Last week, MRC announced that the hiatus would continue until December 8 amid an ongoing investigation into the Spacey allegations.
Production will resume in early 2018, the source said.
The sixth season of the USA political drama, which starred the 58-year-old as a fictional president, was originally expected to air in mid-2018.
Finding a way forward for Season 6 was not only important so that fans could have closure, but also so those on the crew of House of Cards would still have jobs.
For The Crown, the Queen Elizabeth II series whose first season reportedly had a $170 million budget, "almost all the press was about how much it cost", Sarandos said.