Hose Individual Settlement Payments Sample Clauses

Hose Individual Settlement Payments i. The Settlement Administrator will determine the number of Hose Adjusted Settlement Workweeks for each Hose Participating Plaintiff and for all Hose Participating Plaintiffs in the aggregate, by assigning the following values to each Hose Workweek: (a) a multiplier of three (3) to any Workweek belonging to a Hose Participating Plaintiff who was not compelled to arbitration and who either appeared for deposition or submitted substantive interrogatory responses (in addition to objections) to Defendants’ Interrogatories while their claims were pending in District Court; (b) a multiplier of two (2) to any Workweek belonging to a Hose Participating Plaintiff who was compelled to arbitration and who substantially completed the written survey circulated via https:\\XXX.xxxxxx; and (c) a multiplier of one (1) to all other Workweeks. (The Hose Participating Plaintiffs in Categories (a) and (b) are identified on Exhibits A & B respectively.) ii. The Settlement Administrator will calculate the total number of Hose Adjusted Settlement Workweeks belonging to each Hose Participating Plaintiff during the Hose Recovery and Release Period, and the aggregate total number of Hose Adjusted Settlement Workweeks worked by all Hose Participating Plaintiffs during the Hose Recovery and Release Period. iii. The Settlement Administrator will divide the Hose Net Settlement Amount by the aggregate total number of Hose Adjusted Settlement Workweeks, resulting in the “Hose Workweek Value.” iv. The Settlement Administrator will calculate each Hose Participating Plaintiff’s Individual Settlement Payment by multiplying that individual’s total number of Hose Adjusted Settlement Workweeks by the Workweek Value. v. The Individual Settlement Payment will be reduced by appropriate tax withholdings or deductions, accounting for the allocation between W2 income and 1099 income set forth in Section 38(a) below. vi. The Parties agree that the formula described herein is reasonable and that it fairly accounts for the increases in the value of claims that may occur as a result of an individual participating in discovery, remaining in a collective action versus being referred to individual arbitration, and/or having comparatively more or less workweeks than other otherwise similarly situated Hose Participating Plaintiffs. The Parties further agree that the payments are designed to provide a fair settlement to each Hose Participating Plaintiff in light of the uncertainties regarding the compensation...
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Related to Hose Individual Settlement Payments

  • Settlement Payments A. Unless the Court orders otherwise, each Participating Class Member will receive an equal, pro-rata portion of the Net Settlement Amount. The “Net Settlement Amount” is the Settlement Amount (plus any accrued interest thereon) reduced by any sums awarded by the Court for attorneys’ fees, litigation expenses, service payments, and all expenses of settlement administration (including expenses previously incurred and the Settlement Administrator’s good faith estimate of future expenses to be incurred). The pro-rata share of each Participating Class Member shall be computed by dividing the Net Settlement Amount by the number of Participating Class Members. B. As soon as practicable after the Effective Date, the Settlement Administrator will transmit to each Participating Class Member that person’s settlement payment, which may be in the form of a check or an electronic payment such as Venmo, direct deposit/ACH, or PayPal. The settlement payment will be accompanied by a statement that the Participating Class Member should consult his or her tax advisor regarding the tax consequences of the settlement payment. In the event any check is returned to the Settlement Administrator as undeliverable, or in the event any electronic payment is unable to be processed, the Settlement Administrator will attempt to contact the Participating Class Member by telephone or email or perform a skip trace to attempt to locate a current address or other relevant information necessary to re-issue payment. Any payment instrument not negotiated within ninety (90) days of its mailing or other transmission by the Settlement Administrator will be void. Any portion of the Settlement Amount, including accrued interest, that remains unpaid at the end of such ninety-day period will be paid to one or more cy pres recipients mutually proposed by the Parties and approved by the Court, unless the Court orders otherwise.

  • Settlement Payment If the resulting net amount is positive, it shall be payable by the Defaulting Party to the Non-Defaulting Party, and if it is negative, then the absolute value of such amount shall be payable by the Non-Defaulting Party to the Defaulting Party.

  • Full Settlement; Mitigation The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others, provided that nothing herein shall preclude the Company from separately pursuing recovery from the Executive based on any such claim. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts (including amounts for damages for breach) payable to the Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Funding of Gross Settlement Amount Defendant shall fully fund the Gross Settlement Amount, and also fund the amounts necessary to fully pay Defendant’s share of payroll taxes by transmitting the funds to the Administrator no later than 14 days after the Effective Date.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $500,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 6.1 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • The Settlement Benefits What does the Settlement provide?

  • Settlement Method Election Date The third Scheduled Trading Day immediately preceding the First Expiration Date.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

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