Exchange rate fluctuation clause in a distribution agreement

Question

We are about to sign up our first foreign distributor who happens to be in Japan. They have requested a clause in the agreement allowing renegotiation of price if the exchange rate between the pound and Japanese yen fluctuates above a certain level to be agreed. (They will pay us in pounds) Any advice or example clauses for this scenario would be appreciated. We would also like to protect ourselves from a fluctuation.

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