The 61-year-old actor will play Nick, a charming rival businessman who gives the ladies a run for their money in the adult toy game, reported Entertainment Weekly.
The Tony nominee will join Oscar winner Jane Fonda and Tony winner Lily Tomlin.
The Netflix series, which stars Fonda and Tomlin as two rivals who are left to depend on one another when their husbands announce they are gay (and a couple), returns for its third season March 24.
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