There would definitely have to be some give-and-take on either side...
If you think about it, the surrenders of the CP in 1918 were a fairly remarkable thing... there were no Entente troops in Berlin (or for that matter in any of the capitals of the constituent states of the Empire)... none in Vienna or Budapest, nor Sofiya, and none yet in Constantinople (though there would be soon enough...) On the other hand, Germans still occupied Belgium and a wide swath of France, the KuK had not quite been pushed out of Italy, and a million-strong German and Austro-Hungarian force was spread out over a huge area of what had been the western Guberniyas of Russia.... it's easy to see how conspiratorial nonsense like the dolchstosslegende came to the fore. Granted, it didn't help that many were starving, or close to it...
In a true "white peace", it's hard to imagine anything like the Freikorps springing up...