Common use of Fee for Profit Clause in Contracts

Fee for Profit. In addition to the payments for direct and overhead costs as herein before provided, the Airport Authority agrees to pay the Construction Professional an amount for profit for Services performed, based upon a percentage of actual direct and overhead costs incurred and as set forth in Exhibit C. It is agreed and understood that such amount will constitute full compensation to the Construction Professional for profit and may vary because of any differences between that estimated cost and the actual cost for Services performed. In the event this Agreement is terminated, payment of a fee for profit shall be in an amount which shall be determined as set forth in Exhibit C, multiplied by actual direct and overhead cost incurred to date of termination less previously paid profit. Notwithstanding anything to the contrary herein, the Construction Professional shall not be entitled to any lost profits for any Work or any Services which the Construction Professional did not perform.

Fee for Profit. In addition to the payments for direct and overhead costs as herein before provided, the Airport Authority agrees to pay the Construction Design Professional an amount for profit for Services performed, based upon a percentage of actual direct and overhead costs incurred and as set forth in Exhibit C. It is agreed and understood that such amount will constitute full compensation to the Construction Design Professional for profit and may vary because of any differences between that estimated cost and the actual cost for Services performed. In the event this Agreement is terminated, payment of a fee for profit shall be in an amount which shall be determined as set forth in Exhibit C, multiplied by actual direct and overhead cost incurred to date of termination less previously paid profit. Notwithstanding anything to the contrary herein, the Construction Design Professional shall not be entitled to any lost profits for any Work or any Services which the Construction Design Professional did not perform.