Class Member Payments. By default, the Claims Administrator will send the Settlement Benefit to Settlement Class Members by check mailed to the Settlement Class Member’s last known mailing address. However, the Claims Administrator will establish a website that Class Members may visit to: (a) provide an updated address for sending a check; (b) elect to receive the Settlement Benefit by PayPal/Venmo, ACH, Zelle, or Virtual Mastercard instead of a paper check; or (c) elect to forego their Settlement Benefit and have it deposited instead into the Brown E-Gap Funds. The Claims Administrator will send the Settlement Benefit to Class Members within sixty (60) days of the Effective Date. Funds for checks not cashed within one-hundred eighty (180) days of issuance shall be deposited in the Brown E-Gap Funds. Any payments under this Settlement to E-Gap Funds will not serve to reduce Xxxxx’x ordinary contributions to the E-Gap Funds.
Class Member Payments. Class Members will be eligible to receive a distribution from the Gross Settlement Amount less attorneys’ fees and costs, Service Award payments and settlement administration costs and expenses (“Net Settlement Amount”) through an allocation methodology and formula based on the employment dates for each Class Member. Class Members whose employment began on or before December 31, 2018 shall be entitled to up to $375, and Settlement Class Members whose employment began on or after January 1, 2019 shall be entitled to up to $190 (collectively, the “Maximum Payments”), such amounts to be reduced proportionately only to the extent the amount of claims submitted exceeds the Net Settlement Amount. In no event shall the amount paid to Settlement Class Members cause the Gross Settlement Amount to exceed the amounts described in Paragraph 11. Only Class Members who submit a valid and timely Claim Form will receive an allocation. Any part of the Net Settlement Amount remaining after all amounts are paid to Settlement Class Members who submit a valid and timely Claim Forms shall be retained by the Defendants and Defendants shall have no further obligation to pay such amounts to anyone.
Class Member Payments i. Group 1 (Regular): Under this Settlement Agreement, each Class Member from whom non-material depreciation was withheld and not subsequently recovered in its entirety, shall receive a gross cash payment equal to 100% of the principal amount of any outstanding non-material depreciation (i.e., non-material depreciation that was withheld from the Class Member’s ACV payment(s) and was not later paid to the Class Member in the form of replacement cost benefits), subject to applicable deductibles and limits (“Principal Payment”);
ii. Group 2 (Interest Only): Class Members with no outstanding non- material depreciation (i.e., Class Members who were paid all previously withheld non-material depreciation prior to the date of this Agreement) will receive a single interest award (“Interest Payment”) of $25.
iii. The foregoing Principal Payments to Group 1 Class Members will be reduced, pro rata, by the Group 2 Class Members’ Interest Payments, Settlement Costs, and Fees. The term “Settlement Costs and Fees” is hereby defined as the sum of the following: (1) attorneys’ fees and costs, expenses and notice administration; and (2) service awards to the Representative Plaintiffs. The reduction will be proportional to the individual Class Member’s award.
Class Member Payments i. Under this Settlement Agreement, Class Members shall receive a cash payment equal to the principal amount of any still withheld Non-Material Depreciation from Class Members’ ACV payments, subject to applicable deductibles and limits;
ii. In addition, and regardless of whether the principal withholdings have or have not been paid back in the form of replacement cost benefits, Class Members will receive a single, non-cumulative interest award pursuant to the highest value on the following schedule: $5,000 or below $25 $10,000 $50 Up to $20,000 $100 Up to $40,000 $200 Up to $60,000 $300 Up to $80,000 $400 Greater than $80,000 $500
iii. The foregoing Class Member principal and interest payments will be reduced, pro rata, by the Settlement Costs and Fees. The term “Settlement Costs and Fees” is hereby defined as the sum of the following: (1) attorneys’ fees and costs; and (2) service awards to the Representative Plaintiffs. The reduction will be proportional to the individual Class Members’ awards.
Class Member Payments. Settlement Class Members who submit a timely Valid Claim using an approved Claim Form, along with necessary supporting documentation, are eligible to receive compensation for the lesser of (a) $10 plus, the actual 3% fee paid, or, if the 3% fee cannot be determined, $1, and (b) such claimant’s pro rata portion of the Settlement Fund, subject to the limits of the Settlement Fund. Claims will be subject to review for timeliness, completeness, and validity by a Settlement Administrator.
Class Member Payments
