Common use of Contractual Limitation Clause in Contracts

Contractual Limitation. You agree, to the extent permitted by law, that the liability to you of the firm, its partners, associates and employees or contractors, in any way arising from or connected with this engagement including, without limitation, liability for negligence, will be limited to a maximum of $2,000,000, where the fee for the engagement is less than $100,000, or where the fee exceeds $100,000, the Limitation Amount shall be determined as set out as follows: • Where the fee is between $100,000 and $300,000; limited to a maximum sum of $5,000,000; • Where the fee is between $300,000 and $500,000; limited to a maximum sum of $10,000,000; • For non-audit services, where the fee is greater than $500,000; limited to a maximum sum of $20,000,000. • For audit services, where the fee is between $500,000 and $1,000,000; limited to a maximum sum of $20,000,000; • For audit services, where the fee is between $1,000,000 and $2,500,000; limited to a sum of $50,000,000; • For audit services, where the fee is $2,500,000 or more; limited to a sum of $75,000,000 and you release and indemnify the firm, its partners, associates and employees or contractors from all claims arising from or connected with the performance or purported performance of any services arising from or connected with this engagement letter to the extent any such claim or claims made exceed those limits.