Common use of Adjustments Upon Termination Clause in Contracts

Adjustments Upon Termination. A. If termination for cause is effected by the Board, an equitable adjustment in the fee provided for in this Agreement shall be made, but: (i) no amount shall be allowed for anticipated profits on unperformed services; and (ii) any payment due to the Consultant at the time of termination may be adjusted to the extent of any additional costs occasioned to the Board by reason of the Consultant's default. B. If termination for cause is effected by the Consultant, or if termination for convenience is effected by the Board, an equitable adjustment in the fee shall be made, including a reasonable profit on unperformed services. The equitable adjustment for any termination shall provide for payment to the Consultant for services rendered and reimbursable expenses incurred prior to the termination. C. Upon termination either for cause or convenience, the Board may take over the Project and prosecute the same to completion, by agreement with another party or otherwise. Any work taken over by the Board for completion will be completed at the Board’s risk, and the Board will hold harmless the Consultant from all claims and damages arising out of improper use of the Consultant's work.