T&M with a cap is simply saying to the EC:
"As long as you lose money on this, I'll be happy..."
Do one better than run.
Start the job, and about halfway through (when you have already reached the "cap"), bail on him because now it is becoming apparent that you're going to lose money.
Let's see how well his little plan works when he has to pay another EC prime rate to finish, which will require a few days just figuring out what was installed, where it went, etc.
That'll learn 'em.
Boy, I'm a mean old fart...
