Calculation of Individual Awards. Each Settlement Class Member who submits a timely and valid Claim Form (“Participating Settlement Class Member”) will receive an amount calculated pursuant to the formula below (his or her “Distribution Amount”):
Calculation of Individual Awards. Each Settlement Class Member who submits a timely and valid Claim Form (“Participating Settlement Class Member”) will receive an amount calculated pursuant to the formula below (his or her “Claim Amount”): SETTLEMENT AGREEMENT
1. Using Rite Aid’s records, the Claims Administrator will calculate the approximate aggregate number of weeks that all Settlement Class Members were employed as Assistant Store Managers and/or Co-Managers during the applicable periods set forth in Section 5;
2. Using Rite Aid’s records, the Claims Administrator will calculate the approximate number of weeks that each Settlement Class Member was employed as an Assistant Store Manager and/or a Co- Manager during the applicable period set forth in Section 5 and, for each Participating Settlement Class Member who was employed in the State of Pennsylvania a 10% increase in the number of weeks shall be calculated, and, for each Participating Settlement Class Member who was employed in the State of New Jersey, a 20% increase in the number of weeks shall be calculated;
3. For each Participating Settlement Class Member, divide the figure calculated pursuant to Section 11(1)(2) by the figure calculated pursuant to Section 11(1)(2) to arrive at the fraction of the Net Settlement Amount that the Participating Settlement Class Member is eligible to receive under this Agreement.
4. Multiply the Net Settlement Amount by the fraction calculated as described in Section 11(1)(3) to determine the amount that the Participating Settlement Class Member may claim.
Calculation of Individual Awards. Each individual Class Member who submits a timely and valid Claim Form (“Claimant”) will receive an amount calculated pursuant to the formula below (his or her “Claim Amount”):
(a) Using the Company’s records, calculate in the aggregate the approximate number of weeks all members of the Settlement Classes were employed as salaried Department Managers during the applicable periods set forth in Section 4(b);
(b) Using the Company’s records, calculate the approximate number of weeks that each Class Member was employed as a salaried Department Manager during the applicable period set forth in Section 4(b);
(c) For each Class Member, divide the figure calculated pursuant to Section 12(b) by the figure calculated pursuant to Section 12(a) to arrive at the fraction of the Net Settlement Amount that the Class Member is eligible to receive under this Settlement Agreement; and
(d) Multiply the Net Settlement Amount by the fraction calculated as described in paragraph 12(c) above to determine the amount that the Class Member may claim.
Calculation of Individual Awards. Each FLSA Collective member and each State Settlement Class member will receive a Notice as applicable based on their designated settlement group, citing the following amount estimates, which amount will be calculated with finality after the close of the settlement notice and claim period, pursuant to the formula below which will result in his or her “Settlement Amount”:
(1) Calculate the “Distribution Amount” by subtracting from the Total Settlement Amount:
(i) any attorneys’ fees and costs preliminarily approved by the Court to be paid to Class Counsel upon final approval of the settlement;
(ii) any service payments preliminarily approved by the Court to be paid to the Plaintiffs by the Court;
(iii) the Settlement Administrator’s costs preliminarily approved by the Court; and
(iv) the employer share of required federal, state and local payroll taxes that shall be paid by the QSF to the applicable taxing authorities, to be calculated by the Settlement Administrator after determining the individual share amounts resulting from the calculations below.
(2) Each FLSA Collective member will first be allocated from the Distribution Amount a settlement payment amount of $200, so that no settlement payment to a FLSA Collective member as a pro rata distribution of the Distribution Amount shall be for less than the gross amount of $200; and each State Settlement Class member who is not a FLSA Collective member will first be allocated a settlement payment amount of $100, such that no settlement payment to a State Settlement Class member who is not a FLSA Collective member as a pro rata distribution of the Distribution Amount shall be for less than the gross amount of $100;
(3) The remaining Distribution Amount shall then be allocated based on each person’s assigned settlement points as a pro rata percentage of all assigned settlement points, adjusted to provide for minimum amounts, based on the following:
(i) FLSA Collective members:
(a) Each FLSA Collective member shall be assigned 10 settlement points for each pay date reflected for that individual in the payroll records produced to Plaintiff prior to mediation (the “payroll records”) from the FLSA Start Date until the First Inclusion Date;
(b) Each FLSA Collective member for whom the payroll records reflected a “Worked in State Code” for California shall be assigned an additional two (2) settlement points for each pay date reflected for that individual in the payroll records from their State Law Start Date until ...
