The Z-4 Plan was a proposed basis for negotiations to end the Croatian War of Independence with a political settlement. It was drafted by Peter W. Galbraith, Leonid Kerestedjiants and Geert-Hinrich Ahrens on behalf of a mini-Contact Group comprising United Nations envoys and diplomats from the United States, Russia and the European Union. The co-chairs of the International Conference on the Former Yugoslavia, David Owen and Thorvald Stoltenberg, were closely involved in the political process surrounding the plan. The document was prepared in the final months of 1994 and early 1995 before being presented to Croatian President Franjo Tuđman and the leaders of the Republic of Serbian Krajina (RSK) on 30 January 1995. Although Tuđman was displeased with the proposal, the RSK authorities—influenced by Serbian President Slobodan Milošević—refused to receive the document, let alone discuss it. Milošević was concerned that the plan might be used to force the settlement of a crisis in Serbia's Kosovo province.
Three more attempts to revive the plan were made after Operation Flash in early May, when Croatia captured a portion of western Slavonia previously controlled by the RSK. The first initiative, that began later that month, failed because the RSK demanded that the Croatian forces pull back from western Slavonia (which Croatia declined to do). The second attempt failed simply because neither party wanted to negotiate. The final round of negotiations where the Z-4 Plan was proposed by international diplomats occurred in early August, when a major Croatian attack against the RSK seemed imminent. Despite last-ditch efforts by Galbraith to persuade Milošević and the RSK leadership to accept the plan, disagreement among the RSK leaders allowed Croatia to claim that the RSK had no intention of negotiating. The Croatian delegation, which had little interest in the negotiations and wanted to lay the diplomatic groundwork for the imminent military operation, presented its own demands to the RSK (which were also rejected). On 4 August Croatia launched Operation Storm, defeated the RSK and effectively ended the political process which led to the creation of the Z-4 Plan.