IPA: /ˌrɛnɪˈɡoʊʃəbl/
KK: /ˌrɛnɪˈɡoʊʃəbl/
Able to be discussed again in order to change the terms or conditions.
The contract is renegotiable, allowing both parties to make adjustments if needed.
Renegotiable → It is formed from "re-" (meaning again) and "negotiable" (from Latin "negotiari", meaning to carry on business). The word "renegotiable" means capable of being negotiated again or revisited in terms of agreement or contract.
Think of 'again' ('re-') and 'carrying on business' ('negotiari') to remember that 'renegotiable' refers to something that can be negotiated again.