The couple reportedly spent a romantic Friday night in staging a "marriage showdown" at the Hollywood home they shared before news of Rupert's affair with Kristen Stewart broke.
Liberty is said to have had a "change of heart" following her initial plans to file for divorce and move back to her homeland in the UK.
"There's a five-point plan that Liberty has drafted up that she would need Rupert to follow and sign in order for her to consider dropping the lawsuit, a source told UK paper The People.
"Rupert's desperate to patch things up so I'm sure he'd do anything."
The 41-year-old director is reportedly still wearing his wedding ring while Liberty has been spotted without hers.
The former model's list of ultimatums is said to include a re-writing of the couple's pre-nuptial agreement to make it "more balanced" in case Liberty decides divorce is the only way to go.
"Time will tell but for now no more depositions in the case are being taken while lawyers on both sides wait to see if Rupert can meet the criteria and even if he does, if that will be good enough for Liberty to feel she can trust him again, said The People's source.
Liberty was previously said to have banned her husband from ever working with 22-year-old K-Stew again.
Will Rupert sign on the dotted line?
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