Calculation of Payments to Participating Class Members Sample Clauses

Calculation of Payments to Participating Class Members. After all of the payments of the court-approved Attorneys' Fees, Attorneys' Expenses, Service Awards, the PAGA Payment, the Settlement Administration Costs, and Defendant's share of payroll taxes are deducted from the Gross Settlement Amount, the remaining portion, the “Net Settlement Amount” shall be distributed to Participating Class Members. The Net Settlement Amount shall be paid as follows: Calculation for Class Members. From the Net Settlement Amount, the Settlement Share for each Participating Class Member in the Class will be calculated by (a) dividing this amount by the total number of workweeks worked by all Participating Class Members in the Class during the Class Period to determine a dollar amount per workweek (“Workweek Payment”), and (b) multiplying the total number of workweeks worked by each Participating Class Member in the Class during the Class Period by the Workweek Payment.
Sample 1
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Calculation of Payments to Participating Class Members. After all the above payments are deducted from the Gross Settlement Amount, the remaining portion, called the “Net Settlement Amount,” shall be distributed to class members who do not request exclusion (“Participating Class Members”). Each Participating Class Member shall be entitled to receive a portion of the Net Settlement Amount (his/her “Settlement Share”). The Settlement Share for each Participating Class Member will be calculated separately for the Xxxxxx Subclass and the Xxxxx/Xxxx Subclass. You do not need to do anything to be paid. The Settlement Share for the Xxxxxx Subclass will be calculated by: (a) dividing the Net Xxxxxx Settlement Amount by the total number of workweeks worked for all Participating Xxxxxx Subclass Members in the Xxxxxx Subclass that occurred during the Class Period; and (b) multiplying the result by each individual Participating Xxxxxx Subclass Member’s total number of workweeks worked that occurred during the Class Period. The Settlement Share for the Xxxxx/Xxxx Subclass will be calculated by: (a) dividing the Net Xxxxx/Xxxx Settlement Amount by the total number of workweeks worked for all Participating Xxxxx/Xxxx Subclass Members in the Xxxxx/Xxxx Subclass that occurred during the Class Period; and (b) multiplying the result by each individual Participating Xxxxx/Xxxx Subclass Member’s total number of workweeks worked that occurred during the Class Period. If a Participating Class Member is a member of both the Xxxxxx Subclass and the Xxxxx/Xxxx Subclass, he or she will receive two separate Settlement Shares, one each from the allocation for each Subclass. Tax Matters. 20% of each Settlement Share is in settlement of wage claims, which is subject to wage withholdings, and shall be reported on IRS Form W-2. 40% of each Settlement Share is in settlement of claims for interest and 40% of each Settlement Share is in settlement of claims for penalties, and shall be reported on IRS Form 1099. Neither Class Counsel nor Defendant’s counsel intend anything contained in this Settlement to constitute advice regarding taxes or taxability. You may wish to consult a tax advisor concerning the tax consequences of the payments received under the Settlement.
Sample 1
Calculation of Payments to Participating Class Members. After all the above payments of the court- approved Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, the Class Representative Service Payments, the LWDA 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 class members who do not request exclusion (“Participating Class Members”). The Net Settlement Amount will be divided into two portions, as follows: 50% of the Net Settlement Amount shall be allocated to the settlement of the wage statement and reimbursement Class claims for exempt and non-exempt employees (the “226/2802 Class Net Settlement Proceeds”) and the remaining 50% of the Net Settlement Amount shall be allocated to the settlement of the Meal/Rest/Wages Class claims for non- exempt employees (the “Meal/Rest/Wages Class Net Settlement Proceeds”). The Settlement Share for each Participating Class Member will be calculated as follows:
Sample 1
Calculation of Payments to Participating Class Members. The Settlement Share for each Participating Class Member will be calculated as follows, understanding that the formulas below do not constitute an admission by either party, and are intended only to provide a practical means to simplify and administer the claims process. The Settlement Share shall be paid in exchange for the Participating Class Members’ release of the Class Released Claims.
Sample 1

Related to Calculation of Payments to Participating Class Members

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • ALLOCATION OF PAYMENTS The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.

  • Instructions for Certification - Lower Tier Participants (Applicable to all subcontracts, purchase orders and other lower tier transactions requiring prior FHWA approval or estimated to cost $25,000 or more - 2 CFR Parts 180 and 1200)

  • Time Off in Lieu of Payment for Overtime An employee may elect, with the consent of the Company, to take time off in lieu of payment of overtime at a time or times agreed with the Company. Overtime taken as time off during ordinary time hours will be taken at the ordinary time rate, that is an hour for each hour worked.

  • Entitlement and Calculation of Payment Subject to maintaining any superior conditions concerning entitlement, vacation entitlement shall be as follows: An employee who has completed less than one year of continuous service as of his anniversary date of hire shall be entitled to two annual vacation. Payment for such vacation shall be prorated in accordance with his/her service. An employee who has completed one year but less than three years of continuous service as of his anniversary date of hire shall be entitled to two weeks' annual vacation with pay. An employee who has completed three years but less than eight years of continuous service as of his anniversary date of hire shall be entitled to three weeks' annual vacation with Effective in the vacation year where the date for determining vacation entitlement in the individual Hospital falls on or after January the service requirement for three weeks vacation shall be two or more years of full-time continuous service. An employee who has completed eight years but less than fifteen years of continuous service as of his anniversary date of hire shall be entitled to four annual vacation with Effective in the vacation year where the date for determining vacation entitlement in the individual Hospital falls on or after January the service requirement for four weeks vacation shall be six or more years of full-time continuous service. Effective in the vacation year where the date for determining vacation entitlement falls on or after January the service requirement for four weeks vacation shall be five or more years of full-time continuous service. An employee who has completed fifteen years but less than twenty-five years of continuous service as of his anniversary date of hire shall be entitled to five annual vacation with pay. An employee who has completed twenty-five or more years of continuous service as of his anniversary date of hire shall be entitled to six weeks annual vacation with pay. Vacation pay shall be calculated on the basis of the employees' regular straight time rate of pay times their normal weekly hours of work, subject to the application of the Effect of Absence provision.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • Calculation of Pay Each institution will review its division of annual pay into pay periods to ensure that employees receive the full or pro-rated (as applicable) gross annual salary in the Provincial Salary Scale in Appendix A.

  • Verification of payment claims Project promoters shall submit interim and final project reports containing information on project progress and incurred expenditure. In line with point i) of Article 5.6.2 of the Regulation incurred expenditure reported shall be subject to administrative verifications before the report is approved. Verifications to be carried out shall cover administrative, financial, technical and physical aspects of projects, as appropriate, and be in accordance with the principle of proportionality. Examination of proof of expenditure related to the administrative verifications may be carried out on a sample basis. Additionally, in line with point ii) of Article 5.6.2 of the Regulation on–the-spot verifications of projects, which may be carried out on a sample basis, shall be carried out. The detailed procedure for verification will be further detailed in the description of the Programme Operator’s management and control systems.

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