(Mods, please move if not in the correct section)

Last year I started realising (again) that my current salary was way below what any salary surveys said I should be earning; I asked and was told not until after March 2021 when the annual salary increase is given. March 2021 rolls around and once again I get the stock standard $500 per year increase.

I started working a bit harder on my notes for a salary conversation and in early May had a meeting with the Head of the Department after once again confirming that my immediate manager did not know my salary and had no input. 

At this point I should say that I have a base salary and also get two bonus in a year; the bonus is very random and I have no knowledge or control over it - it just appears in my bank account. After almost 10 years in the job, this bonus is actually pretty decent and makes my total income from the job "ok" (but still not great). I have asked multiple times over the years how the bonus is decided and received different answers with the constant "it is not part of your salary"

The meeting didn't go that well - going downhill as soon as I mentioned a number, and I was required to submit more information on why I believe I am worth the number and prove it. It took me several months to finish the evidence and submit (with a case of stress leave and a medical issue caused by the stress in the middle slowing things down.

Today I had the follow up meeting; my immediate manager was there and now knows my salary, as well as the head of department and his manager. They offered me a value that was less than number I asked for, but more importantly have scrapped the dual bonus system for a single capped bonus at the end of the year. The total "package" is worth less than the income I received in the 2020-2021 calendar year from my salary and the dual bonus. I was told there was an official letter coming "soon" and I left the meeting with my head spinning with questions.

While I was at lunch I got sent a word template of the letter (with links to a mail merge values missing), which raised even more questions than it gave as answers and lead me to thinking about getting a lawyer to cast their eye over it. This word template seems to indicate it has been in the planning stages since March 2021 and I have until Monday the 2nd to sign it (even though I don't actually have a signable copy yet). I am currently putting together a bunch of questions to ask ..

There are some details I am missing out on purpose (like my role in the company) in order to try and make this a little "anon" but people who might know me will put two and two together.