How Much Can You Expect To Receive, And Sample Clauses

How Much Can You Expect To Receive, And. When Will You Receive It? If you do not request exclusion (i.e., opt out) of the Settlement, you will automatically receive a settlement check for $300.00 (the “Minimum Amount”), 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 Amount, 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 Class 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 or Applicable Class Period (whichever date is earlier) up to October 1, 2016, and will count once those workweeks in which the Claimant worked more than 38 hours in a Covered Position between October 2, 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 Agreement2 and added to the Minimum Payment to determine his/her pre- tax settlement amount, except that any Claimant who has twelve or fewer Qualifying Workweeks shall receive only the Minimum Payment (or Adjusted Minimum Payment, defined below) and no additional payment as a Claimant. If any Residual Net Settlement Amount remains after deduction of (i) the Minimum Payments to be made to Settlement Collective Members and Participating Class Members, and (ii) the Per Workweek Amount payments to be made to Claimants, that remaining Residual Net Settlement Amount shall be distributed evenly on a per capita basis among the Settlement Collective Members and Participating Class Members (including those who do n...
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