Markup Percentage Fee Sample Clauses

Markup Percentage Fee. For any Work performed directly by Contractor and/or any Subcontractor (regardless of tier), the maximum Markup Percentage Fee shall be a single markup percentage not-to-exceed five percent (5%) of the net direct cost (excluding taxes) of (i) direct labor; (ii) allowable labor burden costs; (iii) the net cost of material; (iv) computed cost or actual rental cost of equipment including operating costs and for Work performed by lower tier contractors, the maximum, aggregate Markup Percentage Fee allowable to Contractor and/or Subcontractor(s) directly supervising the lower tier contractor's work shall not exceed three percent (3%) of the net cost (excluding taxes) of all approved Work performed by all Subcontractors combined. (For the avoidance of doubt, this is a single markup and not separate markups for Contractor and supervising Subcontractor.). The Markup Percentage Fee compensates Contractor for all costs and expenses incurred by Contractor and Subcontractors of all tiers in undertaking the extra work other than the amounts and/or costs identified and directly accounted for in (i), (ii), (iii), and (iv) above and provides for Contractor’s profit and Subcontractors’ (of all tiers) profit. Such costs and expenses include but are not limited to: - Site field overhead and time-related costs and expenses; - Site office overhead and time-related costs and expenses; - local or branch office overhead costs and expenses; - home office overhead costs and expenses; - cost and expenses including those for Change Orders of management, superintendents, general foremen, estimating, shop drawings, permits, engineering, submittals, coordinating with others, purchasing, expediting, legal, finance and accounting, management information systems, computers and software, consultants not identified as subcontractors, administrative functions; - record keeping and verification methods for time and materials; - insurances except as specifically permitted; - transport costs for management, superintendents, general foremen or others; - warranty expenses and costs; - cost of payment and performance bonds furnished by subcontractors to Contractor; - the cost for the use of small tools (tools and equipment (power or non-power) with an individual purchase cost of less than $1,000) Record keeping forms and verification methods for time and materials Work shall be subject to approval of the Program Manager. If requested by Program Manager, Contractor shall provide, and shall cause eac...