According to CNN, an official source with direct knowledge of negotiations says that Zimbabwe leader Robert Mugabe has agreed to the terms of his resignation and a letter has been drafted.
The source said generals had given into many of Mugabe's demands including full immunity for himself and his wife Grace, and also that he would keep his private properties.
The source added that the generals' aim with Sunday's televised address was to get Mugabe to declare the military's actions constitutional and that he accepted them.
The source said that for a resignation to take place, a letter must first be sent to the speaker of Parliament.
Key developments from yesterday
The most important update is that defiant Mugabe is still the president of Zimbabwe after refusing to resign on live television.
Mugabe was expected to stand down in a historic address live on state television after conceding to military takeover.
Instead he did not resign following a rambling speech which left the nation stunned and shocked
In a statement delivered in Harare he claimed military intervention, which saw him placed under house arrest four days ago, was no challenge to his authority.
Speaking slowly and occasionally stumbling as he read from pages, Mugabe talked of the need for solidarity to resolve national problems.