Hendry and Barry Praver met at Hendry's office at Fitch Park on Sunday morning. When he emerged from the meeting, Hendry was confident that a deal was near.
"We've done a lot of deals with Barry Praver," Hendry said. "We've been working on avenues of a multiyear deal or a one-year deal. I certainly don't have any anticipation that something won't be done before the arbitration hearing date which is Tuesday."
As Praver left the Cubs complex on Sunday he told the media: "We expect to have something done by Monday."
Marmol is seeking $5.65 million while the Cubs offered $4.1 million.
In terms of a multiyear deal, multiple sources said the Cubs favor a three-year contract. In that scenario, Marmol would be signed through 2013, which would be his first year of free agency. The likely settling point on a multiyear deal would be somewhere between $20-22 million for three years.
Marmol made $2.25 million in 2010, his first year of arbitration. He set a record for strikeouts by a Cubs reliever last season with 138. He also posted 38 saves and a 2.55 ERA.
Bruce Levine covers the Cubs for ESPNChicago.com and ESPN 1000.