Common use of Calculation of Settlement Payments Clause in Contracts

Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator in accordance with the Plan of Allocation as follows: 6.6.1 The Settlement Administrator shall obtain from Class Counsel or the Plans’ recordkeepers a list of Current and Former Participants who invested in the TIAA-CREF Lifecycle Funds between August 17, 2010 an April 17, 2012. Defendants agree to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator. 6.6.2 Payments to the Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator on a per-capita basis by dividing the Net Settlement Amount by the number of Current Participants and Authorized Former Participants. 6.6.3 The Settlement Administrator shall determine the total settlement payment available to each Current Participants and Authorized Former Participant by calculating each such participant’s share of the Net Settlement as set forth above. 6.6.4 The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within thirty (30) business days after the Settlement Effective Date. 6.6.5 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required payments to Current Participants and Authorized Former Participants under Paragraphs 6.7, and 6.10 of the Settlement Agreement; and (b) instructing the Plans as to the amounts to be

Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants (including Beneficiaries and Alternate Payees) shall be calculated by the Settlement Administrator in accordance with pursuant to the Plan of Allocation as follows, based on account information maintained and provided by the Plan’s current and former recordkeepers through Defense Counsel: 6.6.1 The 6.4.1 For each Authorized Former Participant and Current Participant, the Settlement Administrator shall obtain determine an Average Balance, as follows: Each participant’s average, aggregate quarter-ending account balance for the period from Class Counsel or the Plans’ recordkeepers a list of Current September 27, 2012 through (and Former Participants who invested in the TIAA-CREF Lifecycle Funds between August 17including) June 30, 2010 an April 17, 2012. Defendants agree to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.2019.1 6.6.2 Payments to the Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator on a per-capita basis by dividing the Net Settlement Amount by the number of Current Participants and Authorized Former Participants. 6.6.3 6.4.2 The Settlement Administrator shall determine the total settlement payment available to each Current Participants and Authorized Former Participant and Current Participant by calculating each such participant’s pro-rata share of the Net Settlement as set forth above. 6.6.4 The Settlement Administrator shall complete all payment calculations Amount based on his or her Average Balance compared to the sum of the Average Balances for all Current Participants and Authorized Former Participants within thirty (30) business days after and Current Participants. If the dollar amount of the settlement payment to an Authorized Former Participant is calculated by the Settlement Effective DateAdministrator to be less than $5.00, then that Authorized Former Participant’s payment or pro rata share shall be zero for all purposes. 6.6.5 6.4.3 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required payments to Current Participants and Authorized Former Participants under Paragraphs 6.7, and 6.10 Paragraph 6.6 of the Settlement Agreement; and (b) instructing the Plans as to the amounts to bethe

Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator in accordance with pursuant to the Plan of Allocation as follows: 6.6.1 The 6.4.1 For each Authorized Former Participant and Current Participant, the Settlement Administrator shall obtain from Class Counsel or the Plans’ recordkeepers determine a list of Current and Former Participants who invested in the TIAA-CREF Lifecycle Funds between August 17Modified Average Account Balance, 2010 an April 17, 2012. Defendants agree to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.as follows: 6.6.2 Payments to the Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator on a per-capita basis by dividing the Net Settlement Amount by the number of Current Participants and Authorized Former Participants. 6.6.3 6.4.2 The Settlement Administrator shall determine the total settlement payment available to each Current Participants and Authorized Former Participant and Current Participant by calculating each such participant’s pro-rata share of the Net Settlement as set forth abovefund based on his or her Modified Average Account Balance. 6.6.4 The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within thirty (30) business days after the Settlement Effective Date. 6.6.5 6.4.3 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required payments to Current Participants and Authorized Former Participants and Current Participants under Paragraphs 6.7, 6.6 and 6.10 6.7 of the Settlement Agreement; and (b) instructing the Plans Defendants as to the amounts to bebe distributed to the Current Participants under Paragraph 6.5 of the Settlement Agreement and calculating the total amount to deposit into each Current Participant’s Active Account(s) to fulfill this instruction. 6.4.4 Unless the Settling Parties agree in writing, the total amount of all checks to be written by the Settlement Administrator plus the total amount of all credits that Defendants are instructed to make to Current Participants may not exceed the Net Settlement Amount. Nothing in this Paragraph 6.4.4 is intended to modify the requirements of Paragraph 6.9 below. In the event that the Settlement Administrator determines that the Plan of Allocation would otherwise require payments exceeding the Net Settlement Amount, the Settlement Administrator is authorized to make such changes as are necessary to the Plan of Allocation such that said totals do not exceed the Net Settlement Amount.