Taymor, who was fired from the once much-maligned musical in March, 2011, filed suit against 8 Legged Productions executives Michael Cohl and Jeremiah Harris in November (11), accusing them of failing to pay her in full for her work on the show she helped to develop and owing her royalties.
Cohl and Harris denied the claims and filed a countersuit, but they reached a deal over those issues in February (12).
Taymor continued to fight for half of all profits derived from the sale, licensing or leasing of the rights to the original Spider-Man book and, on Thursday (30Aug12), lawyers for both parties filed documents in a New York court revealing an "agreement in principle" had been reached.
Manhattan Federal Court Judge Katherine Forrest gave the warring sides 60 days to sign a final settlement to put the case to rest.
However, if discussions break down, the case could head to trial.
No details about the deal have been released.
The production, which features music by U2 stars Bono and The Edge, opened for previews in 2010, but suffered a number of setbacks and cast injuries before the curtain officially went up in June, 2011.