FIXED FEE FOR PROFIT. A. The fixed fee for profit amount payable to Consultant is identified in Section 2. MAXIMUM AGREEMENT AMOUNTS. For each invoicing period, the Consultant may invoice State a portion of the fixed fee for profit equal to the sum of the actual direct labor costs and overhead (Indirect Costs, excluding FCCM if applicable) for the period, multiplied by the profit rate of XX.XX%. Upon completion of the services outlined in this Agreement, the Consultant may invoice State any remaining fixed fee for profit not previously invoiced. If all of the services under this Agreement are not completed for any reason, State may decrease the amount of fixed fee for profit based on State’s determination of the actual percentage of services completed.
B. Subconsultants fixed fee for profit (if applicable): Consultant must apply the above provisions regarding fixed fee for profit to all Subconsultant contracts that utilize the cost plus fixed fee (CPFF) payment method. If all of the services allocated to Subconsultant(s) under this agreement are not completed for any reason, the fixed fee for profit paid to Subconsultant(s) must be reduced based on the State’s sole determination, or Consultant’s determination with State’s concurrence, of the actual percentage of services completed by the Subconsultant.
FIXED FEE FOR PROFIT. A. The fixed fee for profit amount payable to Consultant is identified in Section 2. MAXIMUM AGREEMENT AMOUNTS. For each invoicing period, the Consultant may invoice State a portion of the fixed fee for profit equal to the sum of the actual direct labor costs and overhead (Indirect Costs, excluding FCCM if applicable) for the period, multiplied by the profit rate of 11.60%. Upon completion of the services outlined in this Agreement, the Consultant may invoice State any remaining fixed fee for profit not previously invoiced. If all of the services under this Agreement are not completed for any reason, LPA, or State on LPA’s behalf may decrease the amount of fixed fee for profit based on LPA’s and State’s determination of the actual percentage of services completed.
FIXED FEE FOR PROFIT. The City will pay the Consultant a fixed fee for profit (“fixed fee”) of Total Fee Written Out ($xx,xxx), which represents xx% of the Consultant’s anticipated labor and overhead costs required to perform the Scope of Work of this Agreement. This fixed fee amount is included in the not to exceed total or Agreement Amount set forth in 4(A) of this agreement. It is understood and agreed that the fee is a fixed amount that cannot be exceeded because of any differences between the Agreement Amount and actual costs of performing the work required by this agreement and that payments to the Consultant shall not exceed said Agreement Amount, unless the terms of this Agreement are modified by an amendment, as provided elsewhere herein. The City may permit an increase in Fixed Fee only due to a change in Scope of Work or with an “Expansion for New Work” that is an increase in scope. Fixed Fee shall not be increased for additional level of effort. The fixed fee payment will be paid in proportion to the work satisfactorily completed during the period outlined by the monthly invoice. Any portion of the fixed fee payment not previously paid in the payments will be paid in the final payment, subject to the provisions of the “TERMINATION” Section of this Agreement If the Agreement is terminated before the Scope of Work is completed the amount of the fixed fee due shall be commensurate with the amount of the Scope of Work satisfactorily completed. Any fixed fee for work reimbursed from the Management Reserve Fund shall be negotiated at the time such work is assigned to the Consultant and shall be authorized in writing by the City.
FIXED FEE FOR PROFIT. A. The fixed fee for profit amount payable to Consultant is identified in Section 2.
