The Change Management Fee is to reimburse Project Co for the time spent by its employees in project managing the development, procurement and implementation of the High Value Change and shall:
10.1 be based on actual time spent (validated by time sheets);
10.2 be calculated at the daily rates as set out in Appendix 2 Part 3 to this Schedule Part 16 (Change Protocol), but capped at the sum set out in the High Value Change Proposal;
10.3 not include the time of any person who is not employed by Project Co;
10.4 not include any mark-up or profit or additional overheads;
10.5 be paid in three stages as follows:
10.5.1 on Stage 1 Approval;
10.5.2 on Stage 2 Approval; and
10.5.3 when any works involved in the High Value Change have been completed,
and at each stage Project Co shall charge the Authority (subject to the applicable cap) only for the time incurred by its staff up to completion of that stage.