A counteroffer is a response made by one party in a negotiation or job offer situation that modifies the terms of the original offer. It is a counterproposal that presents alternative conditions or terms to the initial offer.

Example
Let's say a company extends a job offer to a candidate with a salary of $60,000 per year. The candidate, however, believes their skills and experience warrant a higher compensation and submits a counteroffer requesting a salary of $70,000 per year instead. The counteroffer presents a different salary expectation and initiates further negotiation between the candidate and the company.