Hourly Billing Rate definition

Hourly Billing Rate for salaried employees, Hourly Billing Rate = (salary/2080) x (1 + Markup + Fringe) • for hourly employees, Hourly Billing Rate = (hourly wage) x (1 + Markup + Fringe)

Hourly Billing Rate means, for Contractor’s personnel, the fully burdened hourly billing rates set forth in Exhibit C (Price Sheet) of this Agreement, each of which such billing rates includes an allocated average of direct and indirect costs, overhead, and administrative expenses attributable to each personnel hour worked.

Examples of Hourly Billing Rate in a sentence

• Resume shall include work experience history with dates, and references from past employers, owners, and/or organizations.• Provide a proposed individual cost breakdown by tasks.• Provide a breakdown of estimated time for completion of task.• Proposed Hourly Billing Rate Summary for the proposed candidate with all respective direct and indirect costs, markups, expenses, overhead rates and profit.

• If a Party is represented by In-House Counsel, the attorneys’ fees component of such Litigation Costs will be calculated by creating an hourly billing rate for each attorney based upon the following formula: Annual Salary/Allocated Annual Hours (2,080 Hours) + Applicable Overhead Rate = Hourly Billing Rate.

• The Maximum Hourly Billing Rate as quoted by the Consultant represents an all-inclusive maximum rate at which the Consultant will invoice Metrolinx, on a time basis with disbursements included and H.S.T. excluded, for services rendered by each classification of employee listed.

• Proponents shall fully complete the Excel file entitled Attachment 1 – Proponent’s Prices and insert a Unit Price into each space provided under the Fixed Maximum Hourly Billing Rate (FMHBR) column.

• Yearly Hourly Billing Rate Increase ≈4% Position/Classification *Billing Rate will be in accordance with the attached guideline page for instructions regarding the "Overhead Items used for Professional Billing Rate Calculation," and the "Sample Standard Contract for Professional Services," Article 5, Compensation Text.** Key Project Personnel III-2-B.

• Yearly Hourly Billing Rate Increase 4% Position/Classification *Billing Rate will be in accordance with the attached guideline page for instructions regarding the "Overhead Items used for Professional Billing Rate Calculation," and the "Sample Standard Contract for Professional Services," Article 5, Compensation Text.** Key Project Personnel III-2-B.

• The construction is expected to occur in 2023 and this work will be provided on an hourly basis per an attached Hourly Billing Rate similar to the one included as Attachment “B”.

• Job Classification and Employee Name, if Known Hourly Billing Rate (Attached supplemental sheet, as required) 2.

• TABLE B1 Note: Submit Hourly Billing Rate Table on Company Letterhead signed by the Principal or Authorized individual for the Firm.

• You may be asked to submit them electronically.Attachment B1: Budget Summary WorksheetThis worksheet provides a summary of costs, based on calculations and information from Attachments B2.Attachment B2: Composite Hourly Billing Rate Calculation:Attachment B2 provides instructions for determining the indirect costs used in Budget Attachment B1.