Common use of Time and Materials Clause in Contracts

Time and Materials. In performing the Contract Scope of Work, the Contractor will be compensated on an Hourly Basis for labor, with a Not-To-Exceed (NTE) amount of [$---------] ( dollars) in accordance with the Contractor’s Standard Billing Rates (Attachment B) and on an incurred basis for Reimbursable Expenses in accordance with Contractor’s Reimbursable Expense Schedule (Attachment C), subject to any NTE amounts included in Attachment C. If authorized, reimbursable expenses shall be charged to VEIC at Contractor’s actual cost, with no xxxx-up. Contractor shall not exceed these dollar amounts set forth above for labor and reimbursable expenses in performing the Contract Scope of Work, unless approved in advance in writing by an authorized representative of VEIC. During each yearly anniversary of the Term of this Contract, Contractor may only increase the Standard Billing Rates for labor set forth on Attachment B by the lesser of (i) three percent (3%) or (ii) the average percentage change in the annual Consumer Price Index Northeast for all urban consumers (CPI-U) (1982-1984) over the then current contract year (CPI). The average percentage CPI change will be calculated by VEIC by January 1 of each year and will be used until the following January. [Do Not Use If a Single Year Contract] The schedule of rates set forth on Attachments B and C shall not change during the Term of this Contract, with the exception of mileage, which will be adjusted on a calendar year basis in accordance with changes in the IRS approved mileage rate for use of a personal automobile. With the exception of the increases provided for in the preceding 2 sentences regarding mileage and labor rates, Contractor shall not increase any other expenses set forth on Attachments B and C during the Term of this Contract. No obligations for expenses beyond the estimated amount in Attachment C shall be reimbursed without prior written approval by VEIC. The Standard Billing Rates include all General and Administrative Overhead; all Contractor administrative functions are understood to be compensated through the factor applied to determine the Standard Billing Rates, and only administrative assistance that is in direct support of production of the deliverables in the Scope of Work will be compensated on an hourly basis. Invoices shall be submitted monthly, including a breakdown showing the staff, hourly rate, hours, and the tasks progressed or completed for the invoice period. Prior to making any monthly payment, VEIC may request supporting documentation from the Contractor evidencing the completion of such tasks and achievement of any related milestones or deadlines set forth in Attachment A. Reimbursable expenses shall be invoiced in accordance with the Reimbursable Expenses Schedule; invoices must indicate the tasks for which the expenses were incurred, and the expenses itemized. If, following completion of the deliverables required under the Contract Scope of Work and final payment, VEIC determines that the deliverables contain errors or omissions, Contractor shall promptly correct such errors or omissions at no further cost to VEIC.

Time and Materials. In performing the Contract Scope of Work, the Contractor will be compensated on an Hourly Basis for labor, with a Not-To-Exceed (NTE) amount of [$---------] ( dollars) in accordance with the Contractor’s Standard Billing Rates (Attachment B) and on an incurred basis for Reimbursable Expenses in accordance with Contractor’s Reimbursable Expense Schedule (Attachment C)) up to, subject but not to any NTE amounts included in Attachment C. If authorizedexceed, the estimated amount of [$ ]. The reimbursable expenses shall be charged to VEIC at Contractor’s actual cost, with no xxxx-up. Contractor shall not exceed these dollar amounts set forth above for labor and reimbursable expenses in performing the Contract Scope of Work, unless approved in advance in writing by an authorized representative of VEIC. During each yearly anniversary of the Term of this Contract, Contractor may only increase the Standard Billing Rates for labor set forth on Attachment B by the lesser of (i) three percent (3%) or (ii) the average percentage change in the annual Consumer Price Index Northeast for all urban consumers (CPI-U) (1982-1984) over the then current contract year (CPI). The average percentage CPI change will be calculated by VEIC by January 1 of each year and will be used until the following January. [Do Not Use If a Single Year Contract] The schedule of rates set forth on Attachments B and Attachment C shall not change during the Term of this Contract, with the exception of mileage, which will be adjusted on a calendar year basis in accordance with changes in the IRS approved mileage rate for use of a personal automobile. With the exception of the increases provided for in the preceding 2 sentences regarding mileage and labor rates, Contractor shall not increase any other expenses set forth on Attachments B and C during the Term of this Contract. No obligations for expenses beyond the estimated amount in Attachment C shall be reimbursed without prior written approval by VEIC. The Standard Billing Rates include all General and Administrative Overhead; all Contractor administrative functions are understood to be compensated through the factor applied to determine the Standard Billing Rates, and only administrative assistance that is in direct support of production of the deliverables in the Scope of Work will be compensated on an hourly basis. Invoices shall be submitted monthly, including a breakdown showing the staff, hourly rate, hours, and the tasks progressed or completed for the invoice period. Prior to making any monthly payment, VEIC may request supporting documentation from the Contractor evidencing the completion of such tasks and achievement of any related milestones or deadlines set forth in Attachment A. Reimbursable expenses shall be invoiced in accordance with the Reimbursable Expenses Schedule; invoices must indicate the tasks for which the expenses were incurred, and the expenses itemized. If, following completion of the deliverables required under the Contract Scope of Work and final payment, VEIC determines that the deliverables contain errors or omissions, Contractor shall promptly correct such errors or omissions at no further cost to VEIC.

Time and Materials. In performing the Contract Scope of Work, the Contractor will be compensated on an Hourly Basis for labor, with a Not-To-Exceed (NTE) amount of [$---------] ( dollars) in accordance with the Contractor’s Standard Billing Rates (Attachment B) and on an incurred basis for Reimbursable Expenses in accordance with Contractor’s Reimbursable Expense Schedule (Attachment C), subject to any NTE amounts included in Attachment C. If authorized, reimbursable expenses shall be charged to VEIC at Contractor’s actual cost, with no xxxxmark-up. Contractor shall not exceed these dollar amounts set forth above for labor and reimbursable expenses in performing the Contract Scope of Work, unless approved in advance in writing by an authorized representative of VEIC. During each yearly anniversary of the Term of this Contract, Contractor may only increase the Standard Billing Rates for labor set forth on Attachment B by the lesser of (i) three percent (3%) or (ii) the average percentage change in the annual Consumer Price Index Northeast for all urban consumers (CPI-U) (1982-1984) over the then current contract year (CPI). The average percentage CPI change will be calculated by VEIC by January 1 of each E L year and will be used until the following January. [Do Not Use If a Single Year Contract] The schedule of rates set forth on Attachments B and C shall not change during the Term of this Contract, with the exception of mileage, which will be adjusted on a calendar year basis in accordance with changes in the IRS approved mileage rate for use of a personal automobile. With the exception of the increases provided for in the preceding 2 sentences regarding mileage and labor rates, Contractor shall not increase any other expenses set forth on Attachments B and C during the Term of this Contract. No obligations for expenses beyond the estimated amount in Attachment C shall be reimbursed without prior written approval by VEIC. The Standard Billing Rates include all General and Administrative Overhead; all Contractor administrative functions are understood to be compensated through the factor applied to determine the Standard Billing Rates, and only administrative assistance that is in direct support of production of the deliverables in the Scope of Work will be compensated on an hourly basis. Invoices shall be submitted monthly, including a breakdown showing the staff, hourly rate, hours, and the tasks progressed or completed for the invoice period. Prior to making any monthly payment, VEIC may request supporting documentation from the Contractor evidencing the completion of such tasks and achievement of any related milestones or deadlines set forth in Attachment A. Reimbursable expenses shall be invoiced in accordance with the Reimbursable Expenses Schedule; invoices must indicate the tasks for which the expenses were incurred, and the expenses itemized. If, following completion of the deliverables required under the Contract Scope of Work and final payment, VEIC determines that the deliverables contain errors or omissions, Contractor shall promptly correct such errors or omissions at no further cost to VEIC.

Time and Materials. In performing the Contract Scope of Work, the Contractor will be compensated on an Hourly Basis for labor, with a Not-To-Exceed (NTE) amount of [$---------] ( dollars) in accordance with the Contractor’s Standard Billing Rates (Attachment B) and on an incurred basis for Reimbursable Expenses in accordance with Contractor’s Reimbursable Expense Schedule (Attachment C), subject to any NTE amounts included in Attachment C. If authorized, reimbursable expenses shall be charged to VEIC at Contractor’s actual cost, with no xxxxmark-up. Contractor shall not exceed these dollar amounts set forth above for labor and reimbursable expenses in performing the Contract Scope of Work, unless approved in advance in writing by an authorized representative of VEIC. During each yearly anniversary of the Term of this Contract, Contractor may only increase the Standard Billing Rates for labor set forth on Attachment B by the lesser of (i) three percent (3%) or (ii) the average percentage change in the annual Consumer Price Index Northeast for all urban consumers (CPI-U) (1982-1984) over the then current contract year (CPI). The average percentage CPI change will be calculated by VEIC by January 1 of each year and will be used until the following January. [Do Not Use If a Single Year Contract] The schedule of rates set forth on Attachments B and C shall not change during the Term of this Contract, with the exception of mileage, which will be adjusted on a calendar year basis in accordance with changes in the IRS approved mileage rate for use of a personal automobile. With the exception of the increases provided for in the preceding 2 sentences regarding mileage and labor rates, Contractor shall not increase any other expenses set forth on Attachments B and C during the Term of this Contract. No obligations for expenses beyond the estimated amount in Attachment C shall be reimbursed without prior written approval by VEIC. The Standard Billing Rates include all General and Administrative Overhead; all Contractor administrative functions are understood to be compensated through the factor applied to determine the Standard Billing Rates, and only administrative assistance that is in direct support of production of the deliverables in the Scope of Work will be compensated on an hourly basis. Invoices shall be submitted monthly, including a breakdown showing the staff, hourly rate, hours, and the tasks progressed or completed for the invoice period. Prior to making any monthly payment, VEIC may request supporting documentation from the Contractor evidencing the completion of such tasks and achievement of any related milestones or deadlines set forth in Attachment A. Reimbursable expenses shall be invoiced in accordance with the Reimbursable Expenses Schedule; invoices must indicate the tasks for which the expenses were incurred, and the expenses itemized. If, following completion of the deliverables required under the Contract Scope of Work and final payment, VEIC determines that the deliverables contain errors or omissions, Contractor shall promptly correct such errors or omissions at no further cost to VEIC.

Time and Materials. In performing the Contract Contractor Scope of Work, the Contractor will be compensated on an Hourly Basis for labor, with a Not-To-Exceed (NTE) amount of [$---------] ( dollars) in accordance with the Contractor’s Standard Billing Rates (Attachment B) and on an incurred basis for Reimbursable Expenses in accordance with Contractor’s Reimbursable Expense Schedule (Attachment C)) up to, subject but not to any NTE amounts included in Attachment C. If authorizedexceed, the estimated amount of [$ ]. The reimbursable expenses shall be charged to VEIC at Contractor’s actual cost, with no xxxx-up. Contractor shall not exceed these dollar amounts set forth above for labor and reimbursable expenses in performing the Contract Contractor Scope of Work, unless approved in advance in writing by an authorized representative of VEIC. During each yearly anniversary of the Term of this Contract, Contractor may only increase the Standard Billing Rates for labor set forth on Attachment B by the lesser of (i) three percent (3%) or (ii) the average percentage change in the annual Consumer Price Index Northeast for all urban consumers (CPI-U) (1982-1984) over the then current contract year (CPI). The average percentage CPI change will be calculated by VEIC by January 1 of each year and will be used until the following January. [Do Not Use If a Single Year Contract] The schedule of rates set forth on Attachments B and Attachment C shall not change during the Term of this Contract, with the exception of mileage, which will be adjusted on a calendar year basis in accordance with changes in the IRS approved mileage rate for use of a personal automobile. With the exception of the increases provided for in the preceding 2 sentences regarding mileage and labor rates, Contractor shall not increase any other expenses set forth on Attachments B and C during the Term of this Contract. No obligations for expenses beyond the estimated amount in Attachment C shall be reimbursed without prior written approval by VEIC. The Standard Billing Rates include all General and Administrative Overhead; all Contractor administrative functions are understood to be compensated through the factor applied to determine the Standard Billing Rates, and only administrative assistance that is in direct support of production of the deliverables in the Scope of Work will be compensated on an hourly basis. Invoices shall be submitted monthly, including a breakdown showing the staff, hourly rate, hours, and the tasks progressed or completed for the invoice period. Prior to making any monthly payment, VEIC may request supporting documentation from the Contractor evidencing the completion of such tasks and achievement of any related milestones or deadlines set forth in Attachment A. Reimbursable expenses shall be invoiced in accordance with the Reimbursable Expenses Schedule; invoices must indicate the tasks for which the expenses were incurred, and the expenses itemized. If, following completion of the deliverables required under the Contract Contractor Scope of Work and final payment, VEIC determines that the deliverables contain errors or omissions, Contractor shall promptly correct such errors or omissions at no further cost to VEIC.