Common use of Adjustments in Fee Clause in Contracts

Adjustments in Fee. For changes in the project as provided herein, the construction phase fee shall be adjusted as follows: (a) Contractor shall be paid an additional fee subject to negotiation if Contractor is placed in charge of reconstruction of an insured or uninsured loss excluding any condition that may have been caused from negligent acts by Contractor. Should the duration of the construction stipulated herein for Final Completion extend beyond the original duration due to no fault of Contractor, Contractor's Additional Construction Phase Fee will be adjusted by dividing the original fee by the number of original contract days multiplied by the number of days delayed. Contractor will not be due any additional Overhead and Profit on increases in the Guaranteed Maximum Price (GMP) that do not exceed 5%. Should the GMP be increased by more than 5%, due to no fault of Contractor, Contractor's additional Overhead and Profit for the Construction Phase will be five percent of that portion of the accumulative increases in the GMP that exceed the GMP by more than 5%.