Cap definition
Examples of Cap in a sentence
To the extent that such changes or modifications to a Work Authorization do not also require modifications to the terms of this Contract (i.e. changes to the overall scope of Engineering Services set forth in Exhibit B, modification of the Compensation Cap, etc.) a Contract Amendment will not be required.
In no event may the aggregate amount of compensation authorized under Work Authorizations and Supplemental Work Authorizations exceed the Compensation Cap.
Conversely, if, during the term of this Agreement, the Credit Rating of the Provider Guarantor is upgraded, then the Guaranty Cap and the Base Security amounts applicable to the Provider shall be those reflecting the improved Credit Rating.
The Compensation Cap herein referenced may be adjusted for Additional Engineering Services requested and performed only if approved by a written Contract Amendment signed by both parties.
Benefits Cap: The average FTE allocation required for Benefits Package coverage paid July through September at prior year Composite Rate for all coverages and costs October through June at current fiscal year Composite Rate.