Consideration to Settlement Class Members Sample Clauses

Consideration to Settlement Class Members. 5.1. The Parties will establish a Settlement Fund under this Agreement. The Settlement Fund will be maintained, for the benefit of Settlement Class Members, at a chartered bank or other financial institution capable of serving in this role. Plycem and Class Counsel will jointly agree on the institution. The Claims Administrator will have the right to issue checks out of the Settlement Fund. 5.2. Xxxxxx agrees to make payments into the Settlement Fund, as follows: 5.2.1. $2 million, within 15 days of entry of the Preliminary Approval Order; 5.2.2. $4 million, by March 1, 2021; 5.2.3. $4 million by September 15, 2021; and

Consideration to Settlement Class Members. The Xxxx Defendants will fund the payment of Settlement Claims as described in this Agreement and approved by the Court in the Preliminary Approval Order and the Final Order and Judgment, by payments into a settlement fund to be administered by the Claims Administrator and funded as set forth in this Agreement. The settlement fund shall be treated as a "qualified settlement fund" for federal income tax purposes pursuant to Treas. Reg. § 1.468B-

Consideration to Settlement Class Members. 2.2.1. Defendants, through the Claims Administrator, and according to the terms, conditions, and procedures set forth in this Stipulation, shall pay each Settlement Class Member according to the Allocation Formula. The Allocation Formula shall calculate each Class Member’s pro rata allocation percentage by determining the Class Member’s Settlement Share and multiplying the Class Member’s Settlement Share by the Net Settlement Amount resulting in a determination of the Total Payment to Each Individual Settlement Class Member, with the Class Representative receiving an enhancement of an additional 100% of his Class Member’s Settlement Share for having brought and prosecuted this action on behalf of the other Class Members. 2.2.2. The Claims Administrator shall be responsible for distributing notice to Class Members; responding to Class Member inquiries; resolving disputes relating to Class Members’ Settlement Share amounts; calculating Class Members’ Settlement Shares; reporting on the state of the Settlement to the Settling Parties’ respective counsel; distributing settlement payments, withholding all taxes due on Class Members’ payments; coordinating with Defendants to calculate and pay the employer’s share of payroll taxes and payments related and or arising out of the payment of payroll taxes resulting from any settlement payments; remitting such withheld funds to the appropriate taxing authorities; preparing a declaration regarding its due diligence in the claims administration process; making payments to the Residuary Charities; and performing such other duties as the Settling Parties may jointly direct or as are specified herein. 2.2.3. The Claims Administrator will report each payment made to Settlement Class Members to state and federal government authorities, including the Internal Revenue Service, as required by law. 2.2.4. Any disputes regarding late claims, allocation amounts or self- identifiers that can be resolved will be resolved prior to finalizing the Class Members’ Settlement Shares, and the allocations to Class Members’ Settlement Shares shall be adjusted accordingly prior to any payments being made. For the purpose of resolving disputed claims, Defendants’ records regarding whether an individual should be a Class Member and/or the dates the Class Member worked in a Covered Position during the Class Period and the Class Member’s rate of pay are presumed accurate. If an individual disputes Defendants’ records, he or she has the burden of ...

Consideration to Settlement Class Members. 2.3.1 Best Buy will create a fund from the Net Settlement Amount for all Current Employee Participating Claimants in the amount of $241,757. Each Current Employee Participating Claimant shall receive $0.50 per Closing Shift that he/she worked during the Class Period, less applicable payroll tax withholdings. If a Current Employee Participating Claimant has worked fewer than five (5) Closing Shifts, he/she shall be treated as if he/she worked five (5) Closing Shifts for purposes of this Stipulation. In the event that this process would result in a cumulative total amount greater than $241,757, each Current Employee Participating Claimant shall then share in the fund’s monies on a pro rata basis accounting for the number of Closing Shifts each Current Employee Participating Claimant worked during the Class Period. In the event that this process results in a cumulative total amount less than $241,757, then the remaining fund monies shall revert to Best Buy. 2.3.2 Best Buy will create a fund from the Net Settlement Amount for all Former Employee Participating Claimants in the amount of $350,809. Each Former Employee Participating Claimant shall receive $0.50 per Closing Shift that he/she worked during the Class Period, less applicable payroll tax withholding. If a Former Employee Participating Claimant has worked fewer than five (5) Closing Shifts, he/she shall be treated as if he/she worked five (5) Closing Shifts for purposes of this Stipulation. In the event that this process would result in a cumulative total amount greater than $350,809, each Former Employee Participating Claimant shall then share in the fund’s monies on a pro rata basis accounting for the number of Closing Shifts each Former Employee Participating Claimant worked during the Class Period. In the event that this process results in a cumulative total amount less than $350,809, then the remaining fund monies shall revert to Best Buy. 2.3.3 Within 15 days of Final Approval, Best Buy shall provide the applicable monies for the funds described in sections 2.3.1 and 2.3.1 above to the Claims Administrator for distribution to the Class Members. 2.3.4 Best Buy has modified its Standard Operating Procedure Manual to include language substantially similar to the following and agrees to retain this language for no less than two (2) years: “Only Managers, Key-Holding Supervisors, or Inventory/LP Team Members are authorized to unlock the front doors for exiting employees when the store is closed. Obser...

Consideration to Settlement Class Members. Defendants will provide the consideration described below in consideration and in exchange for Plaintiff’s and the Settlement Class Members’ promises, agreements, and obligations set out below.

Consideration to Settlement Class Members. 2.2.1. Calculation of Individual Settlement Award: Each Participating Claimant’s Individual Settlement Award shall constitute 70% of the amount of disputed wages previously paid to each Participating Claimant pursuant to Defendant’s investigation in 2014 and 2015. By way of example, based on individualized representations as to hours worked that they did not include on their timesheets, Xx. Xxxxxxxx was paid $17,447.91 and Xx. Xxxxxx was paid $7,191.99. As Participating Claimants, they will receive an additional 70% of their prior allocation. Xxxxxxxx’x recovery as a Participating Claimant will therefore be $12,213.54 (70% of $17,447.91); Xxxxxx’x recovery as a Participating Claimant will be $5,034.39 (70% of $7,191.99). 2.2.2. The Individual Settlement Award to each Participating Claimant shall be deemed payment in settlement of claims for alleged unpaid overtime or other wages and is subject to appropriate deductions and withholdings for wages by the Claims Administrator. 2.2.3. The Claims Administrator shall issue the Individual Settlement Awards to eligible Participating Claimants, and will report each payment to state and federal government authorities, including the Internal Revenue Service, as required by law.

Consideration to Settlement Class Members. 4.1. Within forty-five (45) days of the execution of the Agreement by or on behalf of all parties, CertainTeed agrees to pay into the Trust Account CAD $500,000.00 on account of the Settlement Amount. Within thirty (30) days of the Effective Date, CertainTeed agrees to pay CAD $6,750,000.00 into the Trust Account in full satisfaction of: (i) all payment obligations under this Agreement; and (ii) any and all claims released under this Agreement against the Released Persons. 4.2. CertainTeed shall have no obligation to pay any amount other than the Settlement Amount, for any reason, pursuant to or in furtherance of this Agreement. 4.3. Once the Settlement Amount is paid by CertainTeed into the Trust Account in accordance with Section 4.1, that sum will be received by the Claims Administrator in trust in full satisfaction of all payment obligations under this Agreement and in full satisfaction of the claims released under this Agreement against the Released Persons by the Releasing Parties. 4.4. The Settlement Amount shall be used by the Claims Administrator to pay the approved costs of notice, translation and claims administration, including the Claims Administrator. In addition, the Settlement Amount shall be used to pay an award of Class Counsel fees and costs, and an honorarium award to the Named Plaintiffs, all as ordered by the Courts, and all Eligible Claims. 4.5. No funds may be drawn from monies paid on account of the Settlement Amount prior to the Effective Date except funds to cover the cost of Notice, translation, and the Claims Administrator’s preliminary expenses. If the Agreement is not ultimately approved, neither the Named Plaintiffs, the Settlement Classes nor Class Counsel shall have any obligation to reimburse CertainTeed for the funds actually expended for these purposes. However, unexpended funds shall be returned to CertainTeed. 4.6. CertainTeed shall have no obligation to make any payments under this Agreement, except as set forth in this Agreement. CertainTeed will be responsible for any payment of claims submitted during the SureStart Period for the Siding that are eligible for a SureStart Protection payment. 4.7. The fees and expenses of the Claims Administrator shall be subject to review and approval by the Courts prior to payment. 4.8. All interest earned on the Settlement Amount shall accrue to the benefit of the Settlement Classes and shall become and remain part of the Trust Account. 4.9. Subject to Section 4.10 of this Agreeme...

Consideration to Settlement Class Members. 96" The IP ! 1'nding ntities shall f'nd a settlement of #S O*-9,555,555"55 to be held in escrow and tr'st and thereafter distrib'xxx in a manner created b( Class Co'nsel and approved b( the Co'rts that grant the Preliminar( $pproval /rders and the 1inal /rders and 0'dgments as part of the Claims Process, incl'ding pa(ments of claims to be determined b( an independent Claims $dministrator to be appointed b( the Co'rts as contemplated in paragraph @C" Consistent with the terms of this $greement, the IP ! 1'nding ntities shall deposit the #S O*-9,555,555"55 into a Settlement 1'nd to be held in escrow and tr'st, 'p to #S O*55,555,555"55 of which ma( be 'sed to compensate the Settlement Classes, the cost of administration and notice, and 'p to #S O-9,555,555"55 of which ma( be 'sed to pa( an( award of attorne(sD fees and costs, as ordered b( the Co'rts" $ccordingl(, within *9 b'siness da(s from entr( of the last of the Preliminar( $pproval /rders, the IP ! 1'nding ntities shall pa( into the settlement acco'nt established b( this $greement the s'm of #S O*-9,555,555"55" @5" #ntil the ffective &ate or earlier termination of the $greement, the Settlement 1'nd shall be held, in accordance with paragraph @-, b( #BS in escrow and tr'st" To effect'ate this $greement, the following terms and conditions govern the holding of the Settlement 1'nd and the interest earned on s'ch f'nd" IP ! Inc" and Xxxxxxx XxXxxxx and Xxxxxxx Mright, or if either of them is 'navailable to f'lfill their d'ties then s'ch other co'nsel as designated b( the co'rt4appointed lead co'nsel, acting on behalf of Class Co'nsel, shall each need to approve the withdrawal of an( f'nds from the escrow acco'nt d'ring the period of time from deposit 'ntil the ffective &ate, if an(" If an( of the Co'rts which are asEed decline to enter a 1inal /rder and 0'dgment, or if for that or an( other reason this $greement terminates or becomes void before the ffective &ate, the Settlement 1'nd with accr'ed interest, less the reasonable notice and administration costs act'all( e?pended 'p to #S O*,955,555, shall be immediatel( released to the IP ! 1'nding ntities" Class Co'nsel and the IP ! &efendants covenant and agree to provide all necessar( signat'res and consents to release the Settlement 1'nd immediatel( to the Settling Part( entitled to receive it 'nder the terms of this $greement" 1ail're to abide b( these provisions for holding the Settlement 1'nd in escrow and tr'st shall constit'te a material defa'lt of thi...

Consideration to Settlement Class Members. 2.1.1. Within fifteen (15) days of the Effective Date, and only if the Effective Date occurs, Garda, through the Claims Administrator, and according to the terms, conditions, and procedures set forth in this Agreement, shall pay each Participating Claimant his or her Settlement Sum, less the withholdings described in Paragraphs 2.1.3 and 2.2.1. 2.1.2. The Settlement Sums shall be allocated for reporting reasons as follows: (a) one third (33.33%) shall be deemed payment in settlement of claims for unpaid wages; and (b) two thirds (66.67%) shall be deemed payment for penalties, liquidated damages, and interest. Garda shall be responsible for payment of Payroll Taxes on the wage portion of these payments, in addition to the Maximum Settlement Amount. 2.1.3. As further detailed in this Section 2, Garda, itself or through the Claims Administrator, will report each payment made pursuant to this Agreement to government authorities, including the Internal Revenue Service, as required by law, and it shall make all required deductions and/or withholdings. 2.1.4. Only Participating Claimants, Class Counsel, the Hill Plaintiffs, the Xxxxxx Plaintiffs, and the Settlement Administrator are entitled to any payment under this Agreement and the associated Final Approval Order.

Consideration to Settlement Class Members. 2.2.1. Defendant, through the Claims Administrator, and according to the terms, conditions, and procedures set forth in Section 2.7 of this Stipulation, shall pay each Participating Claimant according to the Allocation Formula. The Allocation Formula shall calculate each Class Member’s pro rata allocation percentage in the following manner: (i) First, using the data provided by Defendant pursuant to Section 2.5.2 of this Stipulation, the Claims Administrator will compute the number of unique Unpaid Internships for each Class Member from the start of each Class Member’s respective state’s maximum limitations period – July 3, 2007 if they had an Unpaid Internship in New York, February 4, 2010 if they had an Unpaid Internship in California, or February 4, 2011 if they had an Unpaid Internship in any other state (and not New York, or California) and then compute the total number of unique Unpaid Internships for all Class Members; (ii) Second, the Claims Administrator will divide the Net Settlement Amount, minus the $3,000 to be paid to Class Members who had Unpaid Internships in California per Paragraph 2.2.2, by the total number of unique Unpaid Internships as determined under step (i) to determine the settlement value for each unique Unpaid Internship;