Overhead Rate Sample Clauses

Overhead Rate. The overhead rate used and defined for this Contract is the rate on file and unexpired with the Ohio Department of Transportation (ODOT) at the time the Contract is negotiated. (If the Consultant does not have an ODOT overhead rate, or the rate has expired, the rate that will be used is the ODOT Safe Harbor Rate or the ODOT average overhead rate in effect at the time the Contract is negotiated, or a rate negotiated that will be no more than the ODOT average overhead rate.) The overhead rate includes the Consultant’s actual costs which are incurred for the operation of the Consultant’s offices and business, incurred for the performance of the Consultant’s specific contracts, and which are allocable to the services performed under this Contract. The overhead shall be calculated as a percentage of the Direct Labor Cost. The rate or percentage of the Direct Labor Costs shall be noted on the Exhibit C “Cost Summary”, and shall be effective for the duration of this Contract, and is to be (insert specific Consultant ODOT Rate). It may decrease with the mutual written agreement of the Parties.
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Overhead Rate. The Overhead Rate for each Task Order shall be applied to the Direct Personnel Costs as permitted above. Computation of the Overhead Rate shall include the following indirect cost items: applicable taxes, employee benefits, insurance payments, maternity leave, paternity leave, medical leave, family leave, disability benefits, bonuses, overtime pay, premium pay, parking and car allowance, fringe benefits, retirement plans, union dues, contributions and assessments required by Law, and collective bargaining, and corporate expenses as otherwise allowed in compliance with 48 CFR Part 31.
Sample 1
Overhead Rate. The OHCRIF funds include an overhead rate of 10% applied to the sub-total of all expenses (personnel, travel and equipment costs). Examples of ineligible costs include:
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Overhead Rate. Introduction The overhead cost represents those allowable costs that are not directly attributable to the project. Overhead costs generally include, but are not limited to, the following: • Provisions for office, light, heat, and related items associated with the working space, depreciation allowances or rental for furniture, drafting equipment, and CADD equipment, automobile expenses, and office and drafting supplies not directly chargeable to the project; • Taxes and insurance other than those included as salary cost, but excluding federal income taxes; • Library and periodical expense, and other means of keeping current in the profession, such as attendance at technical and professional meetings; • Those services and expenses essential to conduct business, including preliminary arrangements for new projects, executive, administrative, accounting, and legal salaries and expenses, other than identifiable salaries included in salary costs and expenses included in reimbursable non-salary expenses, plus salaries of partners and principals, to the extent that they perform general executive and administrative services as distinguished from technical or advisory services directly applicable to the project; • Business development expenses, including salaries of principals and salary costs of employees so engaged; Provision for loss of productive time of technical employees between assignments and for time of principals and employees on public-interest assignments; and • Payroll burden and fringe benefits, which include: o paid sick leave o vacation o holidays o payroll taxes o unemployment contributions o social security taxes o insurance benefits o retirement The determination of the allowable cost items making up the consultant overhead/indirect costs shall be governed by provisions set forth in FAR Part 31. The consultant overhead rate expressed as a percentage is calculated as follows: Overhead Rate = Allowable Overhead Costs x 100% Direct Labor Costs The Indirect Payroll Cost is calculated by multiplying the direct labor cost by the overhead rate divided by 100. FAR Audit - The consultant shall have a FAR Audit performed and furnished to PennDOT, at no direct cost to PennDOT, within six calendar months of the end of each of the firm’s fiscal year. The maximum overhead used for negotiations will be based on a FAR Audit for latest completed fiscal year. If the latest fiscal year concluded within six calendar months prior to the submission of the consultant's ...
Sample 1

Related to Overhead Rate

  • Overhead Rates The Engineer shall use the provisional overhead rate indicated in Attachment E. If a periodic escalation of the provisional overhead rate is specified in Attachment E, the effective date of the revised provisional overhead rate must be included. For lump sum contracts, the overhead rate remains unchanged for the entire contract period.

  • Mileage Rate The mileage rate for authorized travel – based on State of Florida rates on the Effective Date of this Agreement – is $0.445 per mile.

  • Mileage Rates The mileage rate shall be the maximum allowed by the Internal Revenue Service. If the IRS rate should change during the term of the contract, the contract rate shall change also on the date specified by the IRS.

  • E-RATE Authorized users who receive E-rate funding are encouraged to review Universal Service Fund rules and regulations to verify the applicability of this Contract to the E-rate program. NEW YORK STATE RIGHTS OGS Reserved Rights New York State reserves the right to:

  • Overtime Rate In accordance with the applicable wage and hour laws, the overtime rate will be one and one-half (1-1/2) of an employee’s regular rate of pay. The regular rate of pay will not include any allowable exclusions.

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • PERIODIC RATES The periodic rates applicable to purchases, cash advances, and balance transfers are disclosed on the Disclosure that accompanies this Agreement. Any penalty rate that may be imposed for failing to make a payment by the payment due date is also disclosed on the Disclosure. Any rate change will be made pursuant to applicable law. If the rate for your account is variable, as indicated on the accompanying Disclosure, the rate charged on purchases, cash advances, balance transfers and any penalty rate will vary periodically as disclosed in the Disclosure accompanying this Agreement. The initial rate on your account for certain types of transactions may be an introductory discounted rate (Introductory Rate) that is lower than the rate that would ordinarily apply for that type of transaction. If an Introductory Rate applies to your account, the rates and the period of time it will be effective is shown on the Disclosure accompanying this Agreement. After the Introductory Rate period expires, the periodic rate will automatically increase to the rates that would ordinarily apply for that type of transaction based on the terms of this Agreement.

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • Y-Rate The Board of Supervisors may adopt a Y-rate to apply to: (1) an employee who would suffer an actual decrease in salary as a result of action taken by the County, without fault or inability on the part of the employee, or (2) an employee who is changing from one (1) class series to another, as a normal consequent of career development through the County's upward mobility program, and the salary of the class the employee enters in the new class series is less than the salary the employee was receiving in the former class. A Y-rate means a salary rate, for an individual employee, which is greater than the established range for the class.

  • Rate Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if, as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum equal to the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated Preferred Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (i.e., no dividends shall accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has passed without such other dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period”, provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the next Dividend Payment Date. Dividends that are payable on Designated Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months, and actual days elapsed over a 30-day month. Dividends that are payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a Business Day. Holders of Designated Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends (if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of the Certificate of Designations).

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