Common use of ADJUSTMENT CLAUSE Clause in Contracts

ADJUSTMENT CLAUSE. The respective share to be paid by each Party shall be based on the actual Total Cost incurred in rendering the Shared IT Services. For the purpose hereof, “Total Cost” shall mean the sum of: - Gross personnel expenses including personnel total target compensation and benefits (e.g., social security) - Related travel and entertainment expenses - Infrastructure cost adder for rent, facility services, infrastructure and IT based on local average adders of the entity providing services - Overhead cost adder for management and other overhead functions based on average adder of the entity providing services - External expenses related to respective Services - Depreciation and amortization of assets that are related to the Shared IT Services.