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I am hoping for some help with the following statement from a construction contract:

The amounts of all subcontracts, provided that such amounts shall include a maximum of 10% mark-up for overhead and profit combined (including management, supervision, insurance, bonding, as-built and warranty costs) for those Subcontractors and their suppliers.

Does the word "combined" refer to "overhead and profit" or "Subcontractors and their suppliers".

I work in construction, and have a situation where someone is trying to tell me that my company, our sub-contractor, and all of our suppliers are only entitled to share a total markup of 10%.

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    That is what lawyers are really good for... Jul 23 '14 at 2:13
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    Without a comma before it, combined extends the noun-phrase immediately preceding: overhead and profit -- there's no ambiguity. HTH.
    – Kris
    Jul 23 '14 at 4:22
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The word combined refers to overhead and profit. It would have most probably been placed at the end of the statement for referring to the sub-contractors and suppliers.

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