Common use of Agreed pricing of adjustments Clause in Contracts

Agreed pricing of adjustments. Where otherwise justified by material change in Scope of Work, the specific amount of the adjustment of the GMP (except in cases of unilateral Change Orders) shall be agreed in writing by the Parties before the changed Work is performed and shall reflect the following limitations: i. For approved Self-performed Work: Adjustment to GMP limited to Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Design-Builder markup of 7.5% – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work. ii. For Work performed by a first-tier (direct) Subcontractor: Adjustment to GMP limited to Subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Subcontractor markup of 7.5% of Cost of the Work plus a Design-Builder noncumulative markup of an additional 5% (for a total of 12.5%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractor and Design-Builder. iii. For Work performed by a lower-tier Subcontractor: Adjustment to GMP limited to Sub-subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Sub-subcontractor markup of 7.5% and Design-Builder and Subcontractor combined noncumulative markup of 7.5% for a total of 15%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractors all tiers and Design-Builder.

Agreed pricing of adjustments. Where otherwise justified by material change in Scope of Work, the specific amount of the adjustment of the GMP Contract Price (except in cases of unilateral Change Orders) shall be agreed in writing by the Parties before the changed Work is performed and shall reflect the following limitations: i. For approved Self-performed Work: Adjustment to GMP Contract Price limited to Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Design-Builder Contractor markup of 7.5% – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work. ii. For Work performed by a first-tier (direct) Subcontractor: Adjustment to GMP Contract Price limited to Subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Subcontractor markup of 7.5% of Cost of the Work plus a Design-Builder Contractor noncumulative markup of an additional 5% (for a total of 12.5%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractor and Design-BuilderContractor. iii. For Work performed by a lower-tier Subcontractor: Adjustment to GMP Contract Price limited to Sub-subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Sub-Sub- subcontractor markup of 7.5% and Design-Builder Contractor and Subcontractor combined noncumulative markup of 7.5% for a total of 15%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractors all tiers and Design-BuilderContractor.

Agreed pricing of adjustments. Where otherwise justified by material change in Scope of Work, the specific amount of the adjustment of the GMP (except in cases of unilateral Change Orders) shall be agreed in writing by the Parties before the changed Work is performed and shall reflect the following limitations: i. For approved Self-performed Work: Adjustment to GMP limited to Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Design-Builder CM markup of 7.5% – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work. ii. For Work performed by a first-tier (direct) Subcontractor: Adjustment to GMP limited to Subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Subcontractor markup of 7.5% of Cost of the Work plus a Design-Builder CM noncumulative markup of an additional 5% (for a total of 12.5%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractor and Design-BuilderCM. iii. For Work performed by a lower-tier Subcontractor: Adjustment to GMP limited to Sub-subcontractor’s Cost of the Work (as Cost of the Work is further described and limited in ¶ V(B)(2)(a)) plus a Sub-subcontractor markup of 7.5% and Design-Builder CM and Subcontractor combined noncumulative markup of 7.5% for a total of 15%) – which markup includes without limitation all profit, overhead, general conditions, Bond premiums, insurance premiums, salaries, field office expenses, and any other costs pertaining to the changed Work for Subcontractors all tiers and Design-BuilderCM.