Is he actually making design changes or just changing the order of things on the page. I am not sure what the contract says but maybe if he is changing the design continually, you might be able to do this:
Build three designs similar to his specs, then let him know that he should choose the one that best suits his needs.
In fact maybe you could modify your future contracts to include this point so you are not stuck in the same position again. The sad reality is some people will carry on the service forever if you don't corral them. This forces them to make a decision and move on. A lot of people also think that because they are paying you, time is unlimited and some will abuse your time.
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