Common use of Variation of Rates Clause in Contracts

Variation of Rates. The rates and payment herein set forth shall be revised by the actual amount of the change in Contractor’s cost if an event as described below occurs or if the cost of any of the items hereinafter listed shall increase by more than the amount indicated below from Contractor’s cost thereof on the Effective Date or by the same amount after the date of any revision pursuant to this Paragraph: (a) labor costs, including all payroll burden and benefits paid by Contractor for its employees; (b) if Operator requires Contractor to increase the number of Contractor’s Personnel; (c) if it becomes necessary for Contractor to change the work schedule of its personnel or change the location of its Operating Base or Operating Area; (d) in the event described in Paragraph 1102; (e) if the cost of insurance premiums increases by five percent (5%) or more; (f) if the cost of catering increases by five percent (5%) or more; (g) if there is any change in laws, rules, regulations, legislation or classification society rules, including the enforcement or interpretation thereof, that increases Contractor’s financial burden; and (h) the rates listed herein shall be increased for costs other than those listed above on the Commencement Date and at three (3) month intervals thereafter based on changes in the Bureau of Labor Statistics Oil Field and Gas Field Drilling Machinery Producer Price Index (Series ID WPU119102) as published by the U.S. Department of Labor from that reported for the month of the Effective Date. Said rates shall be increased proportionately by the percentage specified in Appendix A for each change of five percent (5%) in said Index. ARTICLE VIII - INVOICES, PAYMENTS AND LIENS 801. Monthly Invoices 802. Payment

Variation of Rates. The (a) Provided that no revision of the rates listed below shall occur more than once during any [***] month period, the rates and payment herein set forth shall be revised by the actual amount of the change in Contractor’s cost (as documented by Contractor to Operator’s reasonable satisfaction) if an event as described below occurs or if the cost of any of the items hereinafter listed shall increase (as documented by Contractor to Operator’s reasonable satisfaction) by more than the amount which may be indicated below from Contractor’s cost thereof on the Effective Date or by the same amount after the date of any revision pursuant to this ParagraphSection 3.7: (ai) if Contractor’s labor costs, including all payroll burden and benefits paid by Contractor for its employees; (bii) if Operator requires Contractor to increase the number of Contractor’s Personnel; (ciii) if it becomes necessary for Contractor to change the work schedule of its personnel or Contractor’s Personnel as a result of a change in the location Area of its Operating Base or Operating AreaOperations; (d) in the event described in Paragraph 1102; (eiv) if the cost of insurance premiums increases by five percent (5%) [***] or more; (fv) if the cost of catering increases by five percent (5%) [***] or more;; or (g) if there is any change in laws, rules, regulations, legislation or classification society rules, including the enforcement or interpretation thereof, that increases Contractor’s financial burden; and (hvi) the rates listed herein shall be increased for costs other than Taxes and those listed above on the Term Commencement Date and at three twelve (312) month intervals thereafter based on changes in the Bureau of Labor Statistics Oil Field and Gas Field Drilling Machinery Producer Price Index (Series ID WPU119102) as published by the U.S. Department of Labor from that reported for the month of the Effective Date. Said rates shall be increased proportionately by the percentage specified in Appendix A for each change of five percent (5%) [***] in said Index. ARTICLE VIII - INVOICES, PAYMENTS AND LIENS 801. Monthly Invoices 802. Payment.

Variation of Rates. The rates and payment herein set forth shall be revised by the actual amount of the change in Contractor’s cost if an event as described below occurs or if the cost of any of the items hereinafter listed shall increase by more than the amount indicated below from Contractor’s cost thereof on the Effective Date or by the same amount after the date of any revision pursuant to this Paragraph: (a) labor costs, including all payroll burden and benefits paid by Contractor for its employees; (b) if Operator requires Contractor to increase the number of Contractor’s Personnel; (c) if it becomes necessary for Contractor to change the work schedule of its personnel or change the location of its Operating Base or Operating Area; (d) in the event described in Paragraph 1102; (e) if the cost of insurance premiums increases by five percent (5%) or more; (f) if the cost of catering increases by five percent (5%) or more; (g) if there is any change in laws, rules, regulations, legislation or classification society rules, including the enforcement or interpretation thereof, that increases Contractor’s financial burden; and (h) the rates listed herein shall be increased for costs other than those listed above on the Commencement Date and at three (3) month intervals thereafter based on changes in the Bureau of Labor Statistics Oil Field and Gas Field Drilling Machinery Producer Price Index (Series ID WPU119102) as published by the U.S. Department of Labor from that reported for the month of the Effective Date. Said rates shall be increased proportionately by the percentage specified in Appendix A for each change of five percent (5%) in said Index. ARTICLE VIII - INVOICES, PAYMENTS AND LIENS 801. Monthly Invoices 802. Payment.

Variation of Rates. The rates and payment herein set forth shall be revised by the actual amount of the change in Contractor’s 's cost if an event as described below occurs or if the cost of any of the items hereinafter listed shall increase by more than the amount which may be indicated below from Contractor’s 's cost thereof on the Effective Date or by the same amount after the date of any revision pursuant to this Paragraph: (a) labor costs, including all payroll burden and benefits paid by Contractor for its employees; (b) if Operator requires Contractor to increase the number of Contractor’s 's Personnel; (c) if it becomes necessary for Contractor to change the work schedule of its personnel or change the location of its Operating Base or Operating Area; (d) in the event described in Paragraph 1102; (e) if the cost of insurance premiums increases by five percent (5%) or more; (f) if the cost of catering increases by five percent (5%) or more; (g) if there is any change in laws, rules, regulations, legislation or classification society rules, including the enforcement or interpretation thereof, that increases Contractor’s financial burden; and (hg) the rates listed herein shall be increased for costs other than those listed above on the Commencement Date and at three (3) month intervals thereafter based on changes in the Bureau of Labor Statistics Oil Field and Gas Field Drilling Machinery Producer Price Index (Series ID WPU119102) as published by the U.S. Department of Labor from that reported for the month of the Effective Date. Said rates shall be increased proportionately by the percentage specified in Appendix A for each change of five percent (5%) in said Index. ARTICLE VIII - INVOICES, PAYMENTS AND LIENS 801710. Monthly Invoices 802Change in Law 711. PaymentChange in Locale of Operating Area