Common use of Determination of Amount of No Excuses Incentive Payment Clause in Contracts

Determination of Amount of No Excuses Incentive Payment. The amount of the No Excuses Incentive Payment shall be determined in accordance with the following provisions. .1 If Design-Builder achieves Substantial Completion on or before April 1, 2025, the amount of the No Excuses Incentive Payment will equal ninety million dollars ($90,000,000). .2 If Design-Builder achieves Substantial Completion on or after April 2, 2025, but before May 16, 2025, the amount of the No Excuses Incentive Payment will equal (i) ninety .3 If Design-Builder achieves Substantial Completion on May 16, 2025, the amount of the No Excuses Incentive Payment will equal fifty million dollars ($50,000,000). .4 If Design-Builder achieves Substantial Completion on or after May 17, 2025, but before July 5, 2025, the amount of the No Excuses Incentive Payment will equal (i) fifty million dollars ($50,000,000) less (ii) four hundred thousand dollars ($400,000) for each day that Substantial Completion extends beyond May 16, 2025. .5 If Design-Builder achieves Substantial Completion on July 5, 2025, the amount of the No Excuses Incentive Payment will equal twenty million dollars ($20,000,000). .6 If Design-Builder achieves Substantial Completion on or after July 6, 2025, but before September 1, 2025, the amount of the No Excuses Incentive Payment will equal (i) twenty million dollars ($20,000,000) less (ii) three hundred fifty thousand dollars ($350,000) for each day that Substantial Completion extends beyond July 5, 2025. .7 If Design-Builder achieves Substantial Completion on or after September 1, 2025, the amount of the No Excuses Incentive Payment will equal zero dollars ($0).

Determination of Amount of No Excuses Incentive Payment. The Subject to Section 5.3.4, the amount of the No Excuses Incentive Payment shall be determined in accordance with the following provisions. .1 If Design-Builder achieves Substantial Completion on or before April September 25, 2026April 1, 2025, the amount of the No Excuses Incentive Payment will equal ninety million dollars ($90,000,000). .2 If Design-Builder achieves Substantial Completion after September 25, 2026, but on or before December 31, 2026, the amount of the No Excuses Incentive Payment will equal (i) ninety million dollars ($90,000,000) less (ii) one hundred forty-two thousand dollars ($142,000) per day for each day that Design-Builder’s achievement of Substantial Completion extends beyond September 25, 2026 (e.g., if Design-Builder achieves Substantial Completion on December 31, 2026, the No Excuses Incentive Payment will equal seventy-six million two hundred twenty-six thousand dollars ($76,226,000)). If Design- Builder achieves Substantial Completion on or after April 2, 2025, but before May 16, 2025, the amount of the No Excuses Incentive Payment will equal (i) ninetyninety million dollars ($90,000,000) less (ii) four hundred fifty thousand dollars ($450,000) for each day that Substantial Completion extends beyond April 1, 2025. .3 If Design-Builder achieves Substantial Completion on May January 1, 2027May 16, 2025, the amount of the No Excuses Incentive Payment will equal fifty fifty-one million dollars ($50,000,00051,000,00050,000,000). .4 If Design-Builder achieves Substantial Completion after January 1, 2027, but on or before February 25, 2027, the amount of the No Excuses Incentive Payment will equal (i) fifty-one million dollars ($51,000,000) less (ii) nine hundred fourteen thousand two hundred eighty-five dollars ($914,285) per day for each day that Design-Builder’s achievement of Substantial Completion extends beyond January 1, 2027 (e.g., if Design-Builder achieves Substantial Completion on February 25, 2027, the No Excuses Incentive Payment will equal seven hundred fourteen thousand three hundred twenty-five dollars ($714,325)). If Design-Builder achieves Substantial Completion on or after May 17, 2025, but before July 5, 2025, the amount of the No Excuses Incentive Payment will equal (i) fifty million dollars ($50,000,000) less (ii) four hundred thousand dollars ($400,000) for each day that Substantial Completion extends beyond May 16, 2025. .5 If Design-Builder achieves Substantial Completion on July 5, 2025, the amount of the No Excuses Incentive Payment will equal twenty million dollars ($20,000,000). [Not used.] .6 If Design-Builder achieves Substantial Completion on or after July 6, 2025, but before September 1, 2025, the amount of the No Excuses Incentive Payment will equal (i) twenty million dollars ($20,000,000) less (ii) three hundred fifty thousand dollars ($350,000) for each day that Substantial Completion extends beyond July 5, 2025. [Not used.] .7 If Design-Builder achieves Substantial Completion on or after September February 26, 2027September 1, 2025, the amount of the No Excuses Incentive Payment will equal zero dollars ($0). Department will pay the No Excuses Incentive Payment in addition to and separate from the Contract Price. b. Addition of Section 5.3.4. Section 5.3.4 is hereby added to the Comprehensive Agreement as follows:

Determination of Amount of No Excuses Incentive Payment. The amount of the No Excuses Incentive Payment shall be determined in accordance with the following provisions. .1 If Design-Builder achieves Substantial Completion on or before April 1, 2025, the amount of the No Excuses Incentive Payment will equal ninety million dollars ($90,000,000).the .2 If Design-Builder achieves Substantial Completion on or after April 2, 2025, but before May 16, 2025, the amount of the No Excuses Incentive Payment will equal (i) ninetyninety million dollars ($90,000,000) less (ii) four hundred fifty thousand dollars ($450,000) for each day that Substantial Completion extends beyond April 1, 2025; .3 If Design-Builder achieves Substantial Completion on May 16, 2025, the amount of the No Excuses Incentive Payment will equal fifty million dollars ($50,000,000).; .4 If Design-Builder achieves Substantial Completion on or after May 17, 2025, but before July 5, 2025, the amount of the No Excuses Incentive Payment will equal (i) fifty million dollars ($50,000,000) less (ii) four hundred thousand dollars ($400,000) for each day that Substantial Completion extends beyond May 16, 2025.; .5 If Design-Builder achieves Substantial Completion on July 5, 2025, the amount of the No Excuses Incentive Payment will equal twenty million dollars ($20,000,000).; and .6 If Design-Builder achieves Substantial Completion on or after July 6, 2025, but before September 1, 2025, the amount of the No Excuses Incentive Payment will equal (i) twenty million dollars ($20,000,000) less (ii) three hundred fifty thousand dollars ($350,000) for each day that Substantial Completion extends beyond July 5, 2025. .7 If Design-Builder achieves Substantial Completion on or after September 1, 2025, the amount of the No Excuses Incentive Payment will equal zero dollars ($0).

Determination of Amount of No Excuses Incentive Payment. The amount of the No Excuses Incentive Payment shall be determined in accordance with the following provisions. .1 If Design-Builder achieves Substantial Completion on or before April 1, 2025, the amount of the No Excuses Incentive Payment will equal ninety million dollars ($90,000,000). .2 If Design-Builder achieves Substantial Completion on or after April 2, 2025, but before May 16, 2025, the amount of the No Excuses Incentive Payment will equal (i) ninetyninety million dollars ($90,000,000) less (ii) four hundred fifty thousand dollars ($450,000) for each day that Substantial Completion extends beyond April 1, 2025; .3 If Design-Builder achieves Substantial Completion on May 16, 2025, the amount of the No Excuses Incentive Payment will equal fifty million dollars ($50,000,000).; .4 If Design-Builder achieves Substantial Completion on or after May 17, 2025, but before July 5, 2025, the amount of the No Excuses Incentive Payment will equal (i) fifty million dollars ($50,000,000) less (ii) four hundred thousand dollars ($400,000) for each day that Substantial Completion extends beyond May 16, 2025.; .5 If Design-Builder achieves Substantial Completion on July 5, 2025, the amount of the No Excuses Incentive Payment will equal twenty million dollars ($20,000,000).; and .6 If Design-Builder achieves Substantial Completion on or after July 6, 2025, but before September 1, 2025, the amount of the No Excuses Incentive Payment will equal (i) twenty million dollars ($20,000,000) less (ii) three hundred fifty thousand dollars ($350,000) for each day that Substantial Completion extends beyond July 5, 2025. .7 If Design-Builder achieves Substantial Completion on or after September 1, 2025, the amount of the No Excuses Incentive Payment will equal zero dollars ($0).