Braeden, 68, told Entertainment Weekly exclusively Friday that both he and Sony were "satisfied" with the deal, terms of which were not reported.
"All's well that end's well," Braeden said. "Both sides were reasonable. We were both satisfied with the outcome. This business is tough."
Prior to the deal, Braeden appeared prepared to end his run with the popular CBS soap opera that he first appeared on in 1980.
An unidentified source close to the contract talks told Entertainment Weekly Braeden accepted a pay cut as part of a new 3-year deal.
Braeden said "Restless" writers will have to figure out a way to write his character back into the series since Newman was last departing to take part in rehabilitation.
"It was rehabilitation … from the negotiations," Braeden joked with EW.com. "He's been cured miraculously! Miracles do happen. A week ago, I didn't think they would."
Copyright 2009 by United Press International.
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