With the contentious and historic race for the Democratic presidential nomination all but over, the talk has shifted to the end game.

Sources say Barack Obama’s V.P. search is already underway - even as Hillary Clinton fights on in a race that isn’t technically over.

Insiders are saying that the latest round of calls to supporters from the Clinton inner circle reflect an underlying shift and an admission:

She has no intention of dropping out, but while the Democratic primary battle isn’t over (at least for another week), the war has been lost.

It also raises the question, what are Clinton’s terms of surrender?

Bill Clinton, for his part, has a clear idea - in the former President’s opinion, she has earned nothing short of the first offer to be Obama’s V.P., according to those close to the Clinton camp.

Bill “is pushing real hard for this to happen,” a friend tells Time.

Even if Hillary Clinton is not on the ticket, her huge wins in the Kentucky and West Virginia primaries significantly cut his lead in the popular vote - and significantly boosted her leverage going forward.

Winning 47 percent of the popular vote (more if you count Michigan and Florida) is pretty impressive - and gives her serious bragging rights.

What does that entail logistically for the Barack Obama campaign?

There’s the matter of her $20 million in campaign debt, as well as (sad as it is) her ego. Seemingly symbolic gestures such as paying homage with a major speech at the convention go a long way in American politics.

Many are doubtful that Obama will offer to make her his running mate — in no small part because that would mean bringing Bill Clinton on.

Her presence on the ticket would severely undercut Barack Obama’s core message of change and his promise of new politics, to be sure.

But can he stop it if the Clintons play hardball?

We can’t say. But in the interest of unifying the party, if not Clinton, a case could be made for her big supporters - Sen. Evan Bayh or Govs. Ted Strickland and Ed Rendell - topping Obama’s list of V.P. choices.

Regardless, how Obama treats Clinton — and vice versa — is likely to have as much impact as any final settlement. After a long, bitter primary battle, no one comes away clean. The winner really needs the loser.

Nothing brings the loser’s supporters on board like seeing their candidate throw herself behind the winner. But the loser also needs the winner.

Whether she’s on the ticket or not, if Barack Obama and Hillary Clinton can’t mend fences, and she can’t come to grips with finishing second, the Democrats chances in November are imperiled.