Renegotiation (noun)

The action or process of renegotiating a contract, agreement, or treaty.

Origin:

Mid 19th century: from re- + negotiation.

Examples:

1. The company is open to renegotiation of the terms of the contract.
2. The government is in the process of renegotiation of the trade agreement.
3. The union is demanding renegotiation of the collective bargaining agreement.
4. The two countries are in the process of renegotiation of the peace treaty.
5. The company and the employees are in renegotiation of the benefits package.