The 45-year-old emerged as the front-runner to take over from Jurgen Klopp earlier this week, with Liverpool opening talks on Wednesday and continuing to discuss terms in recent days.
Feyenoord are understood to have rejected an initial £7.7m offer from the Premier League giants, but the two parties have now come to an agreement thought to be worth up to to £9.4m including add-ons.
A compensation fee was the last significant hurdle for Liverpool to get over in their appointment of Slot, and he now looks certain to become their next manager when Klopp officially leaves this summer.
Personal terms will not be an issue, with Slot having already publicly announced his desire to make the switch to Anfield.
Reports have suggested that everything could be finalised as early as this weekend, with Feyenoord having nothing tangible left to fight for in their domestic campaign this season.
The Dutch outfit won the KNVB-Beker with a 1-0 victory over NEC Nijmegen last weekend and, while they are still mathematically in with a chance of winning the Eredivisie title, it is only a matter of time before PSV Eindhoven move out of their reach.
PSV have been imperious throughout the campaign and hammered Heerenveen 8-0 away from home in a record-breaking goal-fest on Thursday night — a result which meant that Feyenoord then had to beat Go Ahead Eagles to prevent PSV from being crowned champions that night.
The Rotterdam outfit duly ran out 3-1 winners, but they remain nine points adrift of the leaders with only nine points left
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