Compensation Adjustments. For each phase of the Consultant’s work commenced after an increase or decrease by the State in the Budgeted Cost of Construction, the Consultant’s compensation for all remaining phases of the work shall be adjusted to the new Budgeted Cost of Construction, based on the percentage fee shown in Exhibit B, if the change in the Budgeted Cost of Construction is greater than fifteen percent (15%). Such adjustments shall not be retroactive for phases already completed. For any phase underway at the time the State adjusts the Budgeted Cost of Construction, the State shall prorate the adjustment of the Consultant’s fee for the phase based upon the Project Schedule. The Consultant’s fee shall not be decreased or increased should the contract award amount be more or less than the Budgeted Cost of Construction unless such increase or decrease is due to a change in the scope of the Project or the change results in a greater than fifteen percent (15%) difference between the Budgeted Cost of Construction and the award amount.
Appears in 6 contracts
Samples: State of Minnesota, State of Minnesota, State of Minnesota
