BP Plc reached a settlement with the U.S. government for $4.5billion that will end all criminal charges and resolve securitiesclaims relating to the worst U.S. oil spill.

The London-based company announced a $4 billion settlement todaywith the U.S. Justice Department that includes a record $1.256billion criminal fine, which would be paid over five years. Thecompany agreed to five years' probation and also will pay $525million to settle charges with the Securities and ExchangeCommission, according to a press release.

BP said it has agreed to plead guilty to 11 felony counts ofmisconduct or neglect of ships officers related to the 11 deaths,one misdemeanor count under the Clean Water Act, one misdemeanorcount under the Migratory Bird Treaty Act and one felony count ofobstruction of justice.