If the Chiefs do make him an offer, then Cincinnati will have the right to match that offer. The Bengals will have a seven-day period to match the offer and retain him because he received the right of first refusal. In the case that the Bengals don't match it, then Cincinnati wouldn't receive any compensation for him.
In three seasons with the Bengals, the 26-year-old Skuta has played in 40 games and accumilated 55 tackles, three forced fumbles, and 0.5 sacks. He has mainly been a back-up and special teams contributor, but last season he started four games for the Bengals when Rey Maualuga was recovering from injuries.
Skuta has provided valuable depth for the team the past two seasons. Heading into the 2012 the Bengals only have two linebackers that saw action during the regular season in Thomas Howard and Rey Maualuga. But Maualuga's status is unknown due to an off-field incident from earlier in the offseason. Keith Rivers, Roddrick Muckelroy, and Dontay Moch suffered injuries before the season started and never made it to the field and it's still a mystery as to whether or not they will be able to contribute next season.
Depending on the offer that Kansas City makes, if they even offer Skuta a contract, the Bengals may feel inclined to retain him. As last season proved, a team can never have too much depth. But only time will tell how this situation plays out.