Common use of Calculation of Payments to Class Members Clause in Contracts

Calculation of Payments to Class Members. After all of the payments of the court-approved Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, the Class Representative Service Payment, the LWDA Payment, and the Settlement Administration Expenses are deducted from the Gross Settlement Amount, the remaining portion, the “Net Settlement Amount” shall be distributed as Settlement Shares to the Participating Class Members, which are all Class Members who do not opt out. The Net Settlement Amount is estimated to be at least $ . Settlement Administrator will pay a Settlement Share from the Net Settlement Amount to each Participating Class Member. The Settlement Share for each Participating Class Member will be calculated by (a) dividing the Net Settlement Amount by the total number of workweeks worked for all Participating Class Members that occurred during the Class Period and (b) multiplying the result by each individual Participating Class Member’s workweeks that occurred during the Class Period. Defendant has represented that the Class consists of an estimated total of 563 Class Members who collectively worked an estimated workweeks during the Class Period in California. The PAGA Settlement Shares for each Class Member who worked during the PAGA Period will be calculated by (a) dividing the $15,000 portion of the PAGA Award by the total number of workweeks Class Members who worked during the PAGA Period and (b) multiplying the result by each individual Class Member’s workweeks that occurred during the PAGA Period. Defendant has represented that the Class Members who worked during the PAGA Period consists of an estimated total of Class Members who collectively worked an estimated workweeks during the PAGA Period in California. If the Settlement is approved by the Court and you do not exclude yourself, you will automatically be mailed a check for your Settlement Share to the same address as this Class Notice. You do not have to do anything to receive a payment. If your address has changed, you must contact the Settlement Administrator to inform them of your correct address to ensure you receive your payment. Tax Matters. Thirty percent (30%) of each Participating Class Member’s Settlement Share is in settlement of wage claims (the “Wage Portion”). Accordingly, the Wage Portion is subject to wage withholdings, and shall be reported on IRS Form W-2. Seventy percent 70% of each Participating Class Member’s Settlement Share is in settlement of claims for interest and penalties allegedly due to employees (collectively the “Non-Wage Portion”). The Non-Wage Portion shall not be subject to wage withholdings, and shall be reported on IRS Form 1099. The employee portion of all applicable income and payroll taxes will be the responsibility of the Participating Class Members. Neither Class Counsel nor Defendant’s Counsel intend anything contained in this Notice to constitute advice regarding taxes or taxability. The tax issues for each Participating Class Member are unique to him/her, and each Participating Class Member may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement. The Settlement Administrator will be responsible for issuing IRS Forms W-2 for amounts deemed “wages” and IRS Forms 1099 for the amounts allocated as penalties and interest.

Appears in 1 contract

Samples: Class Action Settlement Agreement

AutoNDA by SimpleDocs

Calculation of Payments to Class Members. After all of the payments of the courtCourt-approved Class Counsel Attorneys’ Fees Payment, Class Counsel Litigation Expenses Paymentand Costs, the Class Representative Service Payment, the LWDA PaymentPAGA Penalties, and the Settlement Administration Expenses Payment are deducted from the Gross Settlement Amount, the remaining portion, the “Net Settlement Amount”, shall be distributed as Settlement Shares Individual Class Payments to the Participating Class Members, which are all Class Members who do not opt out. The Net Settlement Amount is estimated to be at least $ . The Settlement Administrator will pay a Settlement Share an Individual Class Payment from the Net Settlement Amount to each Participating Class Member. The Settlement Share Individual Class Payment for each Participating Class Member will be calculated by (a) dividing the Net Settlement Amount by the total number of workweeks Workweeks worked for by all Participating Class Members that occurred during the Class Period and (b) multiplying the result by each individual Participating Class Member’s workweeks that occurred during the Class PeriodWorkweeks. Defendant has represented that the Class consists of an estimated total of 563 Class Members who collectively worked an estimated workweeks “Workweek” means any week during the Class Period in Californiawhich a Class Member worked for Defendant as a Class Member for at least one day. The PAGA Settlement Shares for each Class Member who worked during the PAGA Period number of Workweeks will be calculated by (a) dividing based on Defendant’s records, however, Class Members may challenge the $15,000 portion of the PAGA Award by the total number of workweeks Class Members who worked during the PAGA Period and (b) multiplying the result by each individual Class Member’s workweeks that occurred during the PAGA Period. Defendant has represented that the Class Members who worked during the PAGA Period consists of an estimated total of Class Members who collectively worked an estimated workweeks during the PAGA Period in CaliforniaWorkweeks as explained below. If the Settlement is approved by the Court and you do not exclude yourself, you will automatically be mailed a check for your Settlement Share Individual Class Payment to the same address as this Class Notice. You do not have to do anything to receive a payment. If your address has changed, you must contact the Settlement Administrator to inform them of your correct address to ensure you receive your payment. Tax Matters. Thirty percent Percent (30%) of each Participating Class Member’s Settlement Share Individual Class Payment is in settlement of wage claims (the “Wage Portion”). Accordingly, the Wage Portion is subject to wage withholdings, and shall be reported on IRS Form W-2. Seventy percent Percent (70% %) of each Participating Class Member’s Settlement Share Individual Class Payment is in settlement of claims for non-wages, expense reimbursement, interest and penalties allegedly due to employees (collectively the “Non-Wage Portion”). The Non-Wage Portion shall not be subject to wage withholdings, and shall be reported on IRS Form 1099. The employee portion of all applicable income and payroll taxes will be the responsibility of the Participating Class Members. Neither Class Counsel nor Defendant’s Counsel intend anything contained in this Class Notice to constitute advice regarding taxes or taxability. The tax issues for each Participating Class Member are unique to him/her, and each Participating Class Member may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement. The Settlement Administrator will be responsible for issuing IRS Forms W-2 for amounts deemed “wages” and IRS Forms 1099 for the amounts allocated as penalties and interest.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Calculation of Payments to Class Members. After all of the payments of the court-approved Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, the Class Representative Service PaymentPayments, the LWDA PAGA Payment, and the Settlement Administration Expenses are deducted from the Gross Settlement Amount, the remaining portion, called the “Net Settlement Amount”, shall be distributed to Participating Class Members as Settlement Shares to the Participating Class Members, which are all Class Members who do not opt outShares. The Net Settlement Amount is estimated to be at least $ $526,666.67, based upon the above proposed deductions. The Settlement Administrator will pay a Settlement Share from the Net Settlement Amount to each Participating Class Member. The Settlement Share for each Participating Class Member will be calculated by as follows: (a) dividing the Settlement Administrator shall divide the Net Settlement Amount by the total number of workweeks worked for all Participating Class Members that occurred during included in the Class Period dates of employment to determine a dollar amount per week (“Weekly Rate”); and (b) multiplying the result Settlement Administrator shall then take the number of weeks worked by each individual Participating Class MemberMember and multiply it by the Weekly Rate to calculate their Settlement Share. Workweeks shall be based upon Defendant’s workweeks that occurred during the Class Period. Defendant has represented that the Class consists of an estimated total of 563 payroll records, but Class Members who collectively worked an estimated workweeks during will have the Class Period in California. The PAGA Settlement Shares for each Class Member who worked during right to challenge the PAGA Period will be calculated by (a) dividing the $15,000 portion of the PAGA Award by the total number of workweeks Class Members who worked during the PAGA Period and (b) multiplying the result by each individual Class Member’s workweeks that occurred during the PAGA Period. Defendant has represented that the Class Members who worked during the PAGA Period consists of an estimated total of Class Members who collectively worked an estimated workweeks during the PAGA Period in Californiaas explained below. If the Settlement is approved by the Court and you do not exclude yourselfyourself by completing a signed Request for Exclusion (Exhibit A), you will automatically be mailed a check for your Settlement Share to the same address as this Class Notice. You do not have to do anything to receive a payment. If your address has changed, you must contact the Settlement Administrator to inform them of your correct address to ensure you receive your payment. Tax Matters. Thirty percent One-third (30%1/3) of each Participating Class Member’s Settlement Share is in settlement of wage claims (the “Wage Portion”). Accordingly, the Wage Portion is subject to wage withholdings, and shall be reported on IRS Form W-2. Seventy percent 70% Two-thirds (2/3) of each Participating Class Member’s Settlement Share is in settlement of claims for interest and penalties allegedly due to employees (collectively the “Non-Wage Portion”). The Non-Wage Portion shall not be subject to wage withholdings, and shall be reported on IRS Form 1099. The employee portion of all applicable income and payroll taxes will be the responsibility of the Participating Class Members. Neither Class Counsel nor Defendant’s Counsel intend anything contained in this Notice to constitute advice regarding taxes or taxability. The tax issues for each Participating Class Member are unique to him/her, and each Participating Class Member may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement. The Settlement Administrator will be responsible for issuing IRS Forms W-2 for amounts deemed “wages” and IRS Forms 1099 for the amounts allocated as penalties and interest.

Appears in 1 contract

Samples: www.cptgroupcaseinfo.com

Calculation of Payments to Class Members. After all of the payments of the court-approved Class Counsel Attorneys’ Fees Payment, Class Counsel Litigation Expenses Paymentand Costs, the Class Representative Service PaymentPayments, the LWDA PAGA Payment, and the Settlement Administration Expenses are deducted from the Gross Settlement Amount, the remaining portion, the “Net Settlement Amount”, shall be distributed as Settlement Shares to the Participating Class Members, which are all Class Members who do not opt out. The Net Settlement Amount is estimated to be at least $ $_____________. The Settlement Administrator will pay a Settlement Share from the Net Settlement Amount to each Participating Class Member. The Settlement Share for each Participating Class Member will be calculated by as follows: (a) dividing the Settlement Administrator shall then divide the Net Settlement Amount by the total number of workweeks weeks worked for all Participating by the Class Members that occurred during the Class Period to determine a dollar amount per week (“Weekly Rate”); and (biii) multiplying the result Settlement Administrator shall then take the number of weeks worked by each individual Participating Class MemberMember and multiply it by the Weekly Rate to calculate their Settlement Share. The number of weeks worked will be based on Defendant’s workweeks that occurred during the Class Period. Defendant has represented that the Class consists of an estimated total of 563 records, however, Class Members who collectively worked an estimated workweeks during may challenge the Class Period in California. The PAGA Settlement Shares for each Class Member who worked during the PAGA Period will be calculated by (a) dividing the $15,000 portion of the PAGA Award by the total number of workweeks Class Members who weeks worked during the PAGA Period and (b) multiplying the result by each individual Class Member’s workweeks that occurred during the PAGA Period. Defendant has represented that the Class Members who worked during the PAGA Period consists of an estimated total of Class Members who collectively worked an estimated workweeks during the PAGA Period in Californiaas explained below. If the Settlement is approved by the Court and you do not exclude yourself, you will automatically be mailed a check for your Settlement Share to the same address as this Class Notice. You do not have to do anything to receive a payment. If your address has changed, you must contact the Settlement Administrator to inform them of your correct address to ensure you receive your payment. Tax Matters. Thirty percent (30%) of each Participating Class Member’s Settlement Share is in settlement of wage claims (the “Wage Portion”). Accordingly, the Wage Portion is subject to wage withholdings, and shall be reported on IRS Form W-2. Seventy percent 70% of each Participating Class Member’s Settlement Share is in settlement of claims for interest and penalties allegedly due to employees (collectively the “Non-Wage Portion”). The Non-Wage Portion shall not be subject to wage withholdings, and shall be reported on IRS Form 1099. The employee portion of all applicable income and payroll taxes will be the responsibility of the Participating Class Members. Neither Class Counsel nor Defendant’s Counsel intend anything contained in this Notice to constitute advice regarding taxes or taxability. The tax issues for each Participating Class Member are unique to him/her, and each Participating Class Member may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement. The Settlement Administrator will be responsible for issuing IRS Forms W-2 for amounts deemed “wages” and IRS Forms 1099 for the amounts allocated as penalties and interest.

Appears in 1 contract

Samples: Class Action Settlement Agreement (Mistras Group, Inc.)

AutoNDA by SimpleDocs

Calculation of Payments to Class Members. After all of the payments of the court-approved Class Counsel Attorneys’ Fees Payment, Class Counsel Litigation Expenses Paymentand Costs, the Class Representative Service Payment, the LWDA PaymentPAGA Penalties, and the Settlement Administration Expenses Payment are deducted from the Gross Settlement Amount, the remaining portion, the “Net Settlement Amount”, shall be distributed as Settlement Shares Individual Class Payments to the Participating Class Members, which are all Class Members who do not opt out. The Net Settlement Amount is estimated to be at least $ . Settlement The Administrator will pay a Settlement Share an Individual Class Payment from the Net Settlement Amount to each Participating Class Member. The Settlement Share Individual Class Payment for each Participating Class Member will be calculated by (a) dividing the Net Settlement Amount by the total number of workweeks Workweeks worked for by all Participating Class Members that occurred during the Class Period and (b) multiplying the result by each individual Participating Class Member’s workweeks that occurred during the Class PeriodWorkweeks. Defendant has represented that the Class consists of an estimated total of 563 Class Members who collectively worked an estimated workweeks “Workweek” means any week during the Class Period in Californiawhich a Class Member worked for Defendants as a Class Member for at least one day. The PAGA Settlement Shares for each Class Member who worked during the PAGA Period number of Workweeks will be calculated by (a) dividing based on Defendants’ records, however, Class Members may challenge the $15,000 portion of the PAGA Award by the total number of workweeks Class Members who worked during the PAGA Period and (b) multiplying the result by each individual Class Member’s workweeks that occurred during the PAGA Period. Defendant has represented that the Class Members who worked during the PAGA Period consists of an estimated total of Class Members who collectively worked an estimated workweeks during the PAGA Period in CaliforniaWorkweeks as explained below. If the Settlement is approved by the Court and you do not exclude yourself, you will automatically be mailed a check for your Settlement Share Individual Class Payment to the same address as this Class Notice. You do not have to do anything to receive a payment. If your address has changed, you must contact the Settlement Administrator to inform them of your correct address to ensure you receive your payment. Tax Matters. Thirty percent Twenty Percent (3020%) of each Participating Class Member’s Settlement Share Individual Class Payment is in settlement of wage claims (the “Wage Portion”). Accordingly, the Wage Portion is subject to wage withholdings, and shall be reported on IRS Form W-2. Seventy percent 70% Eighty Percent (80%) of each Participating Class Member’s Settlement Share Individual Class Payment is in settlement of claims for non-wages, expense reimbursement, penalties, and interest and penalties allegedly due to employees (collectively the “Non-Wage Portion”). The Non-Wage Portion shall not be subject to wage withholdings, and shall be reported on IRS Form 1099. The employee portion of all applicable income and payroll taxes will be the responsibility of the Participating Class Members. Neither Class Counsel nor Defendant’s Defendants’ Counsel intend anything contained in this Class Notice to constitute advice regarding taxes or taxability. The tax issues for each Participating Class Member are unique to him/her, and each Participating Class Member may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement. The Settlement Administrator will be responsible for issuing IRS Forms W-2 for amounts deemed “wages” and IRS Forms 1099 for the amounts allocated as penalties and interest.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.