Allocation of Settlement Amount. The Settlement Amount shall comprise $11,478,681.00 to compensate Class Members for underpayments of pension benefits, and $9,521,319.00 to compensate Class Members for interest on those underpayments.
Allocation of Settlement Amount. The parties agree that the Total Settlement Amount is allocated to 100% to statutory penalties, attorneys fees, interest and costs. Class members will be responsible for paying any personal income taxes owed on the amounts they receive.
Allocation of Settlement Amount. A. Of the $2,500,000.00 Gross Settlement Fund, $833,333.33 will be allocated as attorneys’ fees and $1,666,666.67 will be allocated as a Settlement Fund, less the approved costs of administering the settlement, incentive awards and actual litigation costs. Except as otherwise provided in Section 5.A. of this Agreement, the Parties shall bear their own attorneys’ fees, costs, and expenses incurred in the prosecution, defense, or settlement of the Litigation, and the Named Plaintiffs and Class Counsel agree that Class Counsel shall not seek an award of attorneys’ fees, costs, or expenses in this Litigation except as set forth in this Section 5.A. The Gross Settlement Fund, inclusive of the Settlement Fund, a service award to the Named Plaintiffs and Opt-In Plaintiffs, attorneys’ fees and costs and administrative costs, is subject to the approval of the Court.
Allocation of Settlement Amount. The Commissioner of DRS agrees to refund, and the Taxpayers agree to accept, the aggregate sum of Seventy Million Dollars ($70,000,000) in full satisfaction of the Taxpayers’ Outstanding Claims for Refund (“Settlement Refund Amount”). The parties further agree that the Settlement Refund Amount shall be allocated among the Taxpayers and paid by the Commissioner of DRS in the manner set forth in subparagraphs a. through c. below.
Allocation of Settlement Amount. In full and complete settlement of the 22 Action and subject to this Settlement being approved by the Court, Defendant shall pay an 24 "Gross Fund Value Amount"). The Gross Fund Value Amount of $150,000.00 shall be paid 25 to the Claims Administrator no later than Fifteen (15) calendar days after the Final Effective 26 Date. If the Court does not grant final approval upon the material terms of the settlement 27 (other than modification of the requested attorney’s fees, costs or class representative service 28 award) or if five (5%) or more to the putative class members opt-out as set forth in Section
Allocation of Settlement Amount. The City may allocate the Settlement Amount between the Released Insurers’ policies or policy years, and otherwise in such manner as the City determines in its discretion. The Released Insurers may allocate the Settlement Amount or any Released Insurer’s individually-allocated portion thereof between the Released Insurers’ policies or policy years, and otherwise in such manner as the Released Insurers determine in their discretion. The City is not bound by the Released Insurers’ allocation. The Released Insurers are not bound by the City’s allocation.
Allocation of Settlement Amount. The administrative costs of settlement (as specified in Paragraph 6) will be deducted and paid to the Settlement Administrator first from the Settlement Amount within twenty (20) days of settlement approval. Court-approved attorneys’ fees, costs, and expenses will be deducted and paid to Plaintiffs’ counsel of record in the Lawsuit (“Plaintiffs’ Counsel”) second from the Settlement Amount within twenty (20) days of settlement approval. One-third of the remaining Settlement Amount, after deduction of administrative costs and payment of attorneys’ fees, costs, and expenses, will be allocated to Group 1. Two-thirds of the Settlement Amount remaining after deduction of administrative costs, and payment of attorneys’ fees, costs, and expenses will be available to Group 2. As a result of the above, the approximate allocation of the Settlement Amount is: (a) 6/27ths of the Settlement Amount (approximately $6.6 million) as attorneys’ fees, costs, and expenses to Plaintiffs’ Counsel, subject to Court approval; (b) 7/27ths of the Settlement Amount (approximately $7.7 million) to Group 1; and (c) 14/27ths of the Settlement Amount (approximately $15.5 million) to Group 2. Any Court-approved service payments to Group 1 members pursuant to Paragraph 9, will be deducted from the Group 1 allocation prior to the determination of pro rata individual settlement payments by the calculations below, and in addition, the amount of $200 per Group 1 member will be deducted from the Group 1 allocation prior to the determination of pro rata individual settlement payments and allocated to each Group 1 member so that each Group 1 member receives at least $200 in exchange for their release in this settlement. Payment of Court-approved service payments and the $200 minimum payments referenced in this paragraph shall not cause the total gross amount paid to Group 1 to exceed the Group 1 allocated amount as defined in the preceding sentences (i.e., one-third of the remaining Settlement Amount, after deduction of administrative costs and payment of attorneys’ fees, costs, and expenses). The remaining pro rata settlement payments to individual Participating Plaintiffs in Groups 1 and 2 shall then be determined as follows:
Allocation of Settlement Amount. The Settlement Amount will be allocated for Plaintiffs’ Counsel’s attorneys’ fees ($453,333.33) litigation costs ($58,916.69), and Plaintiffs’ damages. $7,500 shall be allocated to the lead named Plaintiff Xxxxxxx Xxxxxxxxx as a service payment. An additional $500 shall be allocated to the second named Plaintiff and each of the Plaintiffs who actively participated in trial preparation. The allocations spreadsheet is attached as Exhibit A.
