Common use of Inflation Adjustment Clause in Contracts

Inflation Adjustment. Cyprotex reserves the right to adjust the USD, GBP or EUR amounts mentioned in the relevant Order on an annual basis, as of each January 1 following at least six (6) months from Order placement or signature (as applicable) (the Review Date) to account for inflation. The adjustment will be made on the basis of the consumer price index as published in Consumer price inflation, UK Statistical bulletins – Office for National Statistics or any official publication substituted for it. The revised amount will be calculated as current price multiplied by (A/B) per annum where: • A = The figure shown in the index for the month immediately before the Review Date; and • B = in the case of the first Review Date, the figure shown in the index for the month and year that is 12 months prior to the month referenced in A and in the case of subsequent Review Dates, the figure shown in the index for the month immediately before the preceding Review Date.