BENEFITS TO THE CLASS. A. Pursuant to the terms and conditions set forth in this Agreement, American agrees to fund the Settlement Account, which will be used to pay all Refunds.
BENEFITS TO THE CLASS. As discussed above, Plaintiffs claimed that the actuarial assumptions and factors used to convert SLA benefits into JSA annuities and certain other alternatives forms of payment under the Plan were improper. If the Settlement is approved by the Court, the Plan will be amended to provide Class Members with increased monthly benefits. The proposed Settlement provides that the Plan will pay the value of the Settlement, net of amounts awarded for Fees, Expenses and Costs discussed below, in the form of a Monthly Benefit Increase to be paid during the lifetimes of the Class Member participants and their designated beneficiaries (“Associated Beneficiaries”). Your share of the Net Settlement Value will be based on the value of your past and projected future benefits (including benefits either paid to your Associated Class Member Participant, if you are the beneficiary, or which may be paid to your Associated Beneficiary, if you are the Participant), compared to the value of all Class Members’ past and projected future benefits. Your share will then be annuitized and paid out over your lifetime (and, where applicable, over the lifetime of your designated beneficiary) as an increase to the amount of the benefit payment you already receive each month, in the benefit form that you already selected. For example, if you are receiving a 50% JSA, your beneficiary will receive 50% of your Monthly Benefit Increase if he or she lives longer than you do, just as he or she would be entitled to receive 50% of your current monthly benefit. Monthly Benefit Increases, like your current benefit payments, will be reduced by applicable adjustments (e.g., for taxes). Although each Class Member will be entitled a Monthly Benefit Increase for pension payments effective as of January 1, 2024, Class Members will not begin receiving any additional benefit under the Settlement until several months after the Settlement becomes Final. The first monthly payment that reflects any additional benefit will include a lump sum amount for the amount of any increase from January 1, 2024, to the date of that first increased payment. Finally, where both the Participant Class Member and his or her Associated Beneficiary have died prior to the first date on which Monthly Benefit Increases are to be paid under the Settlement, the Plan will make a lump sum payment to the estate (or heirs) of the Participant or Associated Beneficiary (whoever died later) upon receipt of a properly completed Estate Claim For...
BENEFITS TO THE CLASS. X. Xxxxxxxx to the terms and conditions set forth in this Agreement, the University agrees to fund a Settlement Fund of $5,000,000, which will be used to pay all awards to Settlement Class Members. Attorneys’ Fee Award and Notice and Administrative Costs will be paid separately from the Settlement Fund.
BENEFITS TO THE CLASS. A. Limitations on Payments or Distributions from the Settlement Account. Until the Effective Date, the Settlement Administrator shall make no payments or distributions from the Settlement Account. All distributions or payments of Vouchers, Attorney Fees and Costs Awards, and Service Award shall only be made after the Effective Date and as provided in this Settlement Agreement.
BENEFITS TO THE CLASS. A. Pursuant to the terms and conditions set forth below, Western Union agrees to pay a Settlement Fund of $8,500,000, which will be used to pay all Settlement costs, including without limitation Cash Awards, Notice And Administrative Costs, Attorneys’ Fee Award, and Incentive Awards and will be in full satisfaction of all of Western Union’s obligations under this Settlement and Settlement Agreement. In no event shall Western Union be obligated to contribute any monies in excess of the amount comprising the Settlement Fund.
