Common use of PRICING OF ADJUSTMENTS Clause in Contracts

PRICING OF ADJUSTMENTS. ‌ a) Pursuant to the clause entitled "changes" herein, when the contracting officer directs the contractor to perform changes that result in an increase in the cost to the contractor, the contracting officer will make an appropriate adjustment to the contract price. In no event shall any delays or extensions of time (other than suspensions of work covered by Clause 44) be construed as a reason or justification for payment of extra compensation to the contractor except as provided by this clause. The adjusted amount will only include reimbursement of actual and verifiable DIRECT (labor, material, supplies, major equipment rental, taxes, worker's compensation insurance for non-overhead personnel and payment bond premiums) cost directly attributable to the change, plus the indirect (overhead/profit) cost percentage factors below. Indirect costs will be reimbursed according to the nature, extent, and complexity of the work involved, but in no case will reimbursement exceed the following: 1. Percentage allowed: OVERHEAD PROFIT COMMISSION To the contractor on work performed by other than his own forces None None 8% To the contractor and/or the subcontractors for that portion of the work performed with THEIR RESPECTIVE FORCES 10% 8% None 2. The above allowable percentages for indirect costs cover profit, commission and all home office and field Overhead (including but not limited to extended and unabsorbed overhead) expenses; insurance; (all except worker's compensation for non-overhead personnel); field and office supervisors, assistants and staff; field offices and storage or work shelters; small tools, estimating, engineering, coordination, expediting, purchasing, detailing, legal, accounting, data processing or other administrative expenses shop drawings, permits, and all other job burdens incidental to the trade. 3. No more than three (3) of the above percentages will be allowed on any change regardless of the number of subcontractor tiers involved. That is, the markup on work subcontracted will be limited to one (1) overhead and one (1) profit percentage in addition to the general contractor's commission. Commission is defined to include all field and office overhead and profit of the general contractor. Subcontractors are not allowed to take a commission, overhead or profit on work subcontracted by them. 4. On changes involving a net decrease in total contract price, the overhead, profit, and commission to be deducted will be negotiated based on the circumstances. Profit shall not be allowed the contractor for services that have not been delivered by a subcontractor. 5. For changes that involve an extension of time the contracting officer may consider alternative equitable adjustments for extended field conditions. b) Itemized breakdowns will normally not be required for changes under $2,500 and not involving time extensions. The Exchange reserves the right to require cost breakdowns below $2,500 if deemed necessary by the contracting officer. The contractor will submit an itemized breakdown for each change that will include, but is not limited to, the following 1. Material and supplies - quantities and unit prices. 2. Equipment (refer to "e" below). 3. Labor costs - by trade. 4. Taxes - except Social Security Taxes. 5. Overhead. 6. Profit.

PRICING OF ADJUSTMENTS. ‌ a) Pursuant to the clause entitled "changes" herein, when the contracting officer directs the contractor to perform changes that result in an increase in the cost to the contractor, the contracting officer will make an appropriate adjustment to the contract price. In no event shall any delays or extensions of time (other than suspensions of work covered by Clause 44) be construed as a reason or justification for payment of extra compensation to the contractor except as provided by this clause. The adjusted amount will only include reimbursement of actual and verifiable DIRECT (labor, material, supplies, major equipment rental, taxes, worker's compensation insurance for non-overhead personnel and payment bond premiums) cost directly attributable to the change, plus the indirect (overhead/profit) cost percentage factors below. Indirect costs will be reimbursed according to the nature, extent, and complexity of the work involved, but in no case will reimbursement exceed the following: 1. Percentage allowed: OVERHEAD PROFIT COMMISSION To the contractor on work performed by other than his own forces None None 8% To the contractor and/or the subcontractors for that portion of the work performed with THEIR RESPECTIVE FORCES 10% 8% None 2. The above allowable percentages for indirect costs cover profit, commission and all home office and field Overhead (including but not limited to extended and unabsorbed overhead) expenses; insurance; (all except worker's compensation for non-overhead personnel); field and office supervisors, assistants and staff; field offices and storage or work shelters; small tools, estimating, engineering, coordination, expediting, purchasing, detailing, legal, accounting, data processing or other administrative expenses shop drawings, permits, and all other job burdens incidental to the trade. 3. No more than three (3) of the above percentages will be allowed on any change regardless of the number of subcontractor tiers involved. That is, the markup on work subcontracted will be limited to one (1) overhead and one (1) profit percentage in addition to the general contractor's commission. Commission is defined to include all field and office overhead and profit of the general contractor. Subcontractors are not allowed to take a commission, overhead or profit on work subcontracted by them. 4. On changes involving a net decrease in total contract price, the overhead, profit, and commission to be deducted will be negotiated based on the circumstances. Profit shall not be allowed the contractor for services that have not been delivered by a subcontractor. 5. For changes that involve an extension of time the contracting officer may consider alternative equitable adjustments for extended field conditions. b) Itemized breakdowns will normally not be required for changes under $2,500 and not involving time extensions. The Exchange reserves the right to require cost breakdowns below $2,500 if deemed necessary by the contracting officer. The contractor will submit an itemized breakdown for each change that will include, but is not limited to, the following 1. Material and supplies - quantities and unit prices. 2. Equipment (refer to "e" below). 3. Labor costs - by trade. 4. Taxes - except Social Security Taxes. 5. Overhead. 6. Profit.

PRICING OF ADJUSTMENTS. ‌ a) Pursuant to the clause entitled "changes" herein, when the contracting officer directs the contractor to perform changes that result in an increase in the cost to the contractor, the contracting officer will make an appropriate adjustment to the contract price. In no event shall any delays or extensions of time (other than suspensions of work covered by Clause 44) be construed as a reason or justification for payment of extra compensation to the contractor except as provided by this clause. The adjusted amount will only include reimbursement of actual and verifiable DIRECT (labor, material, supplies, major equipment rental, taxes, worker's compensation insurance for non-overhead personnel and payment bond premiums) cost directly attributable to the change, plus the indirect (overhead/profit) cost percentage factors below. Indirect costs will be reimbursed according to the nature, extent, and complexity of the work involved, but in no case will reimbursement exceed the following: 1. : Percentage allowed: OVERHEAD PROFIT COMMISSION To the contractor on work performed by other than his own forces None None 8% To the contractor and/or the subcontractors for that portion of the work performed with THEIR RESPECTIVE FORCES 10% 8% None 2. None The above allowable percentages for indirect costs cover profit, commission and all home office and field Overhead (including but not limited to extended and unabsorbed overhead) expenses; insurance; (all except worker's compensation for non-overhead personnel); field and office supervisors, assistants and staff; field offices and storage or work shelters; small tools, estimating, engineering, coordination, expediting, purchasing, detailing, legal, accounting, data processing or other administrative expenses shop drawings, permits, and all other job burdens incidental to the trade. 3. No more than three (3) of the above percentages will be allowed on any change regardless of the number of subcontractor tiers involved. That is, the markup on work subcontracted will be limited to one (1) overhead and one (1) profit percentage in addition to the general contractor's commission. Commission is defined to include all field and office overhead and profit of the general contractor. Subcontractors are not allowed to take a commission, overhead or profit on work subcontracted by them. 4. On changes involving a net decrease in total contract price, the overhead, profit, and commission to be deducted will be negotiated based on the circumstances. Profit shall not be allowed the contractor for services that have not been delivered by a subcontractor. 5. For changes that involve an extension of time the contracting officer may consider alternative equitable adjustments for extended field conditions. b) . Itemized breakdowns will normally not be required for changes under $2,500 and not involving time extensions. The Exchange reserves the right to require cost breakdowns below $2,500 if deemed necessary by the contracting officer. The contractor will submit an itemized breakdown for each change that will include, but is not limited to, the following 1. following Material and supplies - quantities and unit prices. 2. Equipment (refer to "e" below). 3. Labor costs - by trade. 4. Taxes - except Social Security Taxes. 5. Overhead. 6. Profit.

PRICING OF ADJUSTMENTS. ‌ a) Pursuant to the clause entitled "changes" herein, when the contracting officer directs the contractor to perform changes that result in an increase in the cost to the contractor, the contracting officer will make an appropriate adjustment to the contract price. In no event shall any delays or extensions of time (other than suspensions of work covered by Clause 44) be construed as a reason or justification for payment of extra compensation to the contractor except as provided by this clause. The adjusted amount will only include reimbursement of actual and verifiable DIRECT (labor, material, supplies, major equipment rental, taxes, worker's compensation insurance for non-overhead personnel and payment bond premiums) cost directly attributable attriblutable to the change, plus the indirect (overhead/profit) cost percentage factors below. Indirect costs will be reimbursed according to the nature, extent, and complexity of the work involved, but in no case will reimbursement exceed the following: 1. Percentage allowed: OVERHEAD PROFIT COMMISSION To the contractor on work performed by other than his own forces None None 8% To the contractor and/or the subcontractors for that portion of the work performed with THEIR RESPECTIVE FORCES 10% 8% None 2. The above allowable percentages for indirect costs cover profit, commission and all home office and field Overhead (including but not limited to extended and unabsorbed overhead) expenses; insurance; (all except worker's compensation for non-overhead personnel); field and office supervisors, assistants and staff; field offices and storage or work shelters; small tools, estimating, engineering, coordination, expediting, purchasing, detailing, legal, accounting, data processing or other administrative expenses shop drawings, permits, and all other job burdens incidental to the trade. 3. No more than three (3) of the above percentages will be allowed on any change regardless of the number of subcontractor tiers involved. That is, the markup on work subcontracted will be limited to one (1) overhead and one (1) profit percentage in addition to the general contractor's commission. Commission is defined to include all field and office overhead and profit of the general contractor. Subcontractors are not allowed to take a commission, overhead or profit on work subcontracted by them. 4. On changes involving a net decrease in total contract price, the overhead, profit, and commission to be deducted will be negotiated based on the circumstances. Profit shall not be allowed the contractor for services that have not been delivered by a subcontractor. 5. For changes that involve an extension of time the contracting officer may consider alternative equitable adjustments for extended field conditions. b) Itemized breakdowns will normally not be required for changes under $2,500 and not involving time extensions. The Exchange reserves the right to require cost breakdowns below $2,500 if deemed necessary by the contracting officer. The contractor will submit an itemized breakdown for each change that will include, but is not limited to, the following 1. Material and supplies - quantities and unit prices. 2. Equipment (refer to "e" below). 3. Labor costs - by trade. 4. Taxes - except Social Security Taxes. 5. Overhead. 6. Profit.