Adam Catzavelos has reached an agreement with the South African Human Rights Commission for his racist rant while on holiday in Greece in which he used the 'K' word.
The SAHRC lodged a complaint with the Equality Court in Randburg following last year's incident and last Friday said it had reached a settlement agreement with Catzavelos.
The Gauteng manager, Buang Jones, said "the parties today (Thurs) agreed to settle this matter and the settlement agreement will be made an order of court," he said.
He said as part of the agreement Catzavelos will pay a fine of R150 000 to a charitable trust.
Jones said the money will be paid over a period of 30 months "given his current challenges".
He said Catzavelos will also perform community service in Orlando in Soweto over six months and will also issue an apology to South Africa.
"He has also undertaken to desist from making any further racist remarks in the future. The SAHRC welcomes this settlement agreement," Jones said.