Weeks of complex negotiations between Williams and NBC are not yet complete, according to CNN.
There are any number of possible outcomes. Several of the sources said Williams could end up leaving NBC altogether following a financial settlement.
But another possibility, and the one advanced in recent discussions, involves a new role for Williams. Andy Lack, the chairman of NBC News, has been a proponent of this outcome.
One of the sources described employee meetings where Lack asked attendees to "think creatively" about a new role for Williams.
A gradual return to NBC is one scenario suggested by sources close to Williams. After a thorough explanation and apology for past embellishments, he could file news reports and regain viewers' trust.
Or he could exit the network altogether -- a scenario that some people continue to believe is quite likely. In that case, Williams would likely be paid a significant portion of his contract, which he signed at the end of last year. It was reportedly worth about $10 million a year for five years.
A settlement would give NBC some assurance that Williams wouldn't publicly criticize the network.