Common use of Billing Rate Clause in Contracts

Billing Rate. SMUD will compensate Contractor based on the rate(s) set forth in Schedule 1 hereto. Schedule 1 sets forth the billing rate (“Billing Rate”) for each Temporary Position. SMUD will pay Contractor the Billing Rate multiplied by the number of hours authorized by SMUD and actually worked by each Employee under this Agreement. The Billing Rate is intended to compensate Contractor for all personnel costs, including but not limited to: i. All direct and indirect payroll costs; ii. Any and all employee benefits (including, for example: health insurance, dental insurance, vision insurance, paid holidays, vacation and/or sick leave accruals, retirement plans, stock options, etc.) provided to Employees by Contractor; iii. All Payroll and Wage Related Obligations; iv. All overtime worked by Employees; v. All overhead costs; including insurance costs hereunder, and vi. Contractor’s profit. SMUD shall not be liable for any costs in excess of the applicable Billing Rate multiplied by the number of hours worked by each Employee.