Lord McAlpine, the former Conservative party treasurer, is to donate the compensation he receives from those who posted defamatory comments about him on Twitter to the BBC's Children in Need appeal.
The Tory peer has asked those who falsely linked him to child abuse allegations to apologise formally and pay a "sensible and modest amount".
A statement from Lord McAlpine's lawyers said: "The fixed donation amount is yet to be assessed. However, this will be to Lord McAlpine's charity of choice, BBC Children In Need, and will be in addition to an administration fee."
The statement said the donation was intended for tweeters with fewer than 500 followers. "Those with larger numbers of followers are still encouraged to identify themselves and offer their formal apologies at this stage."
The deal does not cover a £185,000 payout from the BBC over the Newsnight programme on 2 November, which did not name McAlpine, but which sparked the wave of online speculation.
His lawyers are still negotiating with ITV over what is expected to be a six-figure settlement after the This Morning presenter Phillip Schofield presented the prime minister, David Cameron, with a list of people allegedly linked to child sex abuse, the result of a "three-minute" internet search.
The comedian Alan Davies and Sally Bercow, the wife of the Commons Speaker, are among the prominent figures who have already apologised for linking the peer to child abuse allegations on Twitter. Bercow posted on 4 November 4: "Why is Lord McAlpine trending? *innocent face*." She appears to have deactivated her account and quit the site.
McAlpine's solicitor, Andrew Reid, said last Thursday that ITV headed a "very long list" of those who faced legal action over the false allegations.
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