How Much Can You Expect To Receive Sample Clauses

How Much Can You Expect To Receive. And When Will You Receive It? You will automatically receive a settlement check for $300.00 (the “Minimum Payment”), less applicable local, state, and federal taxes. You do not need to take any further action in order to receive this settlement check. If you believe that you are entitled to more than the Minimum Payment, you may become a “Claimant” by completing, signing, and returning the enclosed Claim Form, without altering the consent to join and release language above the signature line, to the Administrator by the deadline set forth below. The Bank’s payroll and personnel records for all Claimants will be used to determine the number of workweeks that the Claimant recorded working more than 38 hours (excluding vacation, holiday, sick, meal and rest breaks, and any other paid or unpaid time off that is not included in the calculation of “work” time) during the longer of the Collective Period or Applicable Class Period in a Covered Position. For Settlement Collective Members like you, the Administrator will count twice those workweeks in which the Claimant worked more than 38 hours in a Covered Position from the beginning of the Collective Period up to September 30, 2016, and will count once those workweeks in which the Claimant worked more than 38 hours in a Covered Position between October 1, 2016 and June 20, 2018. The sum of these workweeks will be the Claimant’s Qualifying Workweeks. The Bank’s payroll and personnel records will be considered presumptively correct in determining the number of Qualifying Workweeks for each Claimant. Each Claimant’s number of Qualifying Workweeks will be multiplied by the Per Workweek Amount defined in the Agreement5 and added to the Minimum Payment to determine his/her pre- 5 Pursuant to the Agreement, the Per Workweek Amount will depend on the number of Claimants and their Qualifying Workweeks. To determine the Per Workweek Amount, the Administrator will deduct from the Net Settlement Amount the total to be paid as Minimum Payments to all Settlement Collective Members and Participating Class Members to arrive at a Residual Net Settlement Amount. The Administrator shall divide the Residual Net Settlement Amount by the sum of Qualifying Workweeks for all Claimants to obtain a pro rata per workweek amount. If the pro rata per workweek amount is less than $57.21 per Qualifying Workweek, then the pro rata per workweek amount will be the Per Workweek Amount. If the tax settlement amount, except that any Claimant who has...