Reso 2016-2525 - Laserfiche WebLink

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increases and decreases in the Work the actual necessary cost will be the arithmetic sum of the additive and deductive costs. The allowance for overhead and profit shall include full compensation for superintendence, bond and insurance premiums, taxes, office expense, and all other items of expense or cost not included in the cost of labor, materials, or equipment provided for under Paragraphs 11.2B, C, and D, herein including extended overhead and home office overhead. The allowance for overhead and profit will be made in accordance with the following schedule: Actual Necessary Cost Overhead and Profit Allowance Labor twenty (20) percent Materials fifteen (15) percent B. It is understood that labor, materials, and equipment may be furnished by the CONTRACTOR or by the subcontractor on behalf of the CONTRACTOR. When all or any part of the extra Work is performed by a subcontractor, the allowance specified herein shall be applied to the labor, materials, and equipment costs of the subcontractor, to which the CONTRACTOR may add five (5) percent of the subcontractor's total cost for the extra Work. Regardless of the number of hierarchical tiers of subcontractors, the five (5) percent increase above the subcontractor's total cost which includes the allowances for overhead and profit specified herein may be applied one time only for each separate Work transaction. 11.5 EXCLUDED COSTS A. The term "cost of the Work" shall not include any of the following: 1. Payroll costs and other compensation of CONTRACTOR's officers, executives, principals (of partnership and sole proprietorships) general managers, ENGINEER OF RECORDs, architects, estimators, attorneys' auditors accountants, purchasing and contracting agents, expediters, time keepers, clerks, and other personnel employed by CONTRACTOR whether at the site or in CONTRACTOR's principal or a branch office for general administration of the Work and not specifically covered by Paragraph 11.3F all of which are to be considered administrative costs covered by the CONTRACTOR's allowance for overhead and profit; 2. Expenses of CONTRACTOR's principal and branch offices other than CONTRACTOR's office at the site; 3. Any part of CONTRACTOR's capital expenses, including interest on CONTRACTOR's capital employed for the Work and charges against CONTRACTOR for delinquent payments; 4. Cost of premiums for all Bonds and for all insurance whether or not CONTRACTOR is required by the Contract Documents to purchase and maintain the same (except for the cost of premiums covered by Paragraph 11.4 above); 00700-28/39 I a