Common use of How Will My Individual Settlement Share Be Calculated Clause in Contracts

How Will My Individual Settlement Share Be Calculated. The Net Settlement Amount will be paid to the Participating Class Members in the form of Individual Settlement Shares. If the Court approves any of the above-referenced payments in smaller amounts, the Net Settlement Amount will be larger. The Settlement Administrator will mail each Participating Class Member an Individual Settlement Share from the Net Settlement Amount that is equal to: (i) the number of workweeks the Participating Class Member worked during the Class Period, based on the Class Data provided by Defendant, (ii) divided by the total number of workweeks worked by any and all Participating Class Members collectively during the Class Period, based on the same Class Data, (iii) which is then multiplied by the Net Settlement Amount. One day worked in a given week will be credited as one workweek for purposes of this calculation. Therefore, the value of each Participating Class Member’s Individual Settlement Share ties directly to the number of workweeks the Participating Class Member worked during the Class Period. Although your exact share of the Net Settlement Amount cannot be precisely calculated until after the time during which Class Members may submit disputes regarding, objections to, or requests for exclusion from the Settlement concludes, based upon the calculation above, your approximate Individual Settlement Share from the Net Settlement Amount, is $ , less taxes. This is based on Defendant’s records, which show you worked workweeks during the Class Period. The amount of your Individual Settlement Share will change if Class Members opt out of the class portion of the proposed Settlement, if workweek estimates change, and/or if the Court does not approve all the above-referenced payments from the Gross Settlement Amount in full. Twenty percent (20%) of your Individual Settlement Share will be treated as unpaid wages. The wages portion of your Individual Settlement Share will be subject to all tax withholdings customarily made from an employee’s wages and all other authorized and required withholdings and will be reported on an IRS Form W-2. Eighty percent (80%) of your Individual Settlement Share will be treated as penalties, and interest. The penalties and interest portions of your Individual Settlement Share will be subject to all authorized and required withholdings other than the tax withholdings customarily made from employees’ wages and will be paid pursuant to an IRS Form 1099. The Settlement Administrator will mail your Individual Settlement Share check to the address the Settlement Administrator has on record for you. Therefore, it is important that you keep the Settlement Administrator informed of any change of address.

How Will My Individual Settlement Share Be Calculated. The Net Settlement Amount will be paid to the Participating Class Members in the form of Individual Settlement Shares. If the Court approves any of the above-referenced payments in smaller amounts, the Net Settlement Amount will be larger. The Settlement Administrator will mail each Participating Class Member an Individual Settlement Share from the Net Settlement Amount that is equal to: (i) the number of workweeks the Participating Class Member worked during the Class Period, based on the Class Data provided by Defendant, (ii) divided by the total number of workweeks worked by any and all Participating Class Members collectively during the Class Period, based on the same Class Data, (iii) which is then multiplied by the Net Settlement Amount. One day worked in a given week will be credited as one workweek for purposes of this calculation. Therefore, the value of each Participating Class Member’s Individual Settlement Share ties directly to the number of workweeks the Participating Class Member worked during the Class Period. Although your exact share of the Net Settlement Amount cannot be precisely calculated until after the time during which Class Members may submit disputes regarding, objections to, or requests for exclusion from the Settlement concludes, based upon the calculation above, your approximate Individual Settlement Share from the Net Settlement Amount, is $ , less taxes. This is based on Defendant’s records, which show you worked workweeks during the Class PeriodPeriod as a directly-hired employee and worked workweeks during the Class Period as a Temp employee. Defendant’s records show that you received $ in settlement during the course of this case. This amount will be credited (if any) against your Individual Settlement Share. The amount of your Individual Settlement Share will change if Class Members opt out of the class portion of the proposed Settlement, if workweek estimates change, and/or if the Court does not approve all the above-referenced payments from the Gross Settlement Amount in full. Twenty percent (20%) of your Individual Settlement Share will be treated as unpaid wages. The wages portion of your Individual Settlement Share will be subject to all tax withholdings customarily made from an employee’s wages and all other authorized and required withholdings and will be reported on an IRS Form W-2. Eighty percent (80%) of your Individual Settlement Share will be treated as penalties, penalties and interest. The penalties and interest portions of your Individual Settlement Share will be subject to all authorized and required withholdings other than the tax withholdings customarily made from employees’ wages and will be paid pursuant to an IRS Form 1099. The Settlement Administrator will mail your Individual Settlement Share check to the address the Settlement Administrator has on record for you. Therefore, it is important that you keep the Settlement Administrator informed of any change of address.

How Will My Individual Settlement Share Be Calculated. The Net Settlement Amount will be paid to the Participating Class Members in the form of Individual Settlement Shares. If the Court approves any of the above-referenced payments in smaller amounts, the Net Settlement Amount will be larger. The Settlement Administrator will mail each Participating Class Member an Individual Settlement Share from the Net Settlement Amount that is equal to: (i) the number of workweeks weeks the Participating Class Member worked during the Class Period, based on the Class Data List provided by Defendant, ; divided by (ii) divided by the total number of workweeks weeks worked by any and all Participating Class Members collectively during the Class Period, based on the same Class Data, List; (iii) which is then multiplied by the Net Settlement Amount. One day worked in a given week will be credited as one workweek a week for purposes of this calculation. Therefore, the value of each Participating Class Member’s Individual Settlement Share ties directly to the number of workweeks weeks the Participating Class Member worked during the Class Period. Although your exact share of the Net Settlement Amount cannot be precisely calculated until after the time during which Class Members may submit disputes regardingto, objections to, or requests for exclusion from the Settlement concludes, based upon the calculation above, your approximate estimated Individual Settlement Share from the Net Settlement Amount, is $ , less taxes. This is based on Defendant’s records, which show you worked workweeks during the Class Period. The amount of your Individual Settlement Share will change if Class Members opt out of the class portion of the proposed Settlement, if workweek estimates change, and/or if the Court does not approve all the above-referenced payments from the Gross Maximum Settlement Amount in full. Twenty percent One-third (20%1/3) of your Individual Settlement Share will be treated as unpaid wages. The Applicable taxes will be withheld from the wages portion of your Individual Settlement Share will be subject to all tax withholdings customarily made from an employee’s wages only and all other authorized and required withholdings and will be reported on an IRS Form W-2. Eighty percent One-third (80%1/3) of your Individual Settlement Share will be treated as penalties, and interest. The penalties and interest portions one-third (1/3) of your Individual Settlement Share will be subject to all authorized and required withholdings other than the tax withholdings customarily made from employees’ wages and treated as interest, both of which will be paid pursuant to an IRS Form 1099. The Settlement Administrator will mail your Individual Settlement Share check to the address the Settlement Administrator has on record for you. Therefore, it is important that you keep the Settlement Administrator informed of any change of address.

How Will My Individual Settlement Share Be Calculated. The Settlement Administrator will pay each Participating Class Member an Individual Settlement Share from the Net Settlement Amount will be paid to the Participating Class Members in the form of Individual Settlement SharesAmount. If the Court approves any of the above-referenced payments in smaller amounts, the Net Settlement Amount will be larger. The Settlement Administrator will mail each Participating Class Member an Your Individual Settlement Share from will be based on your pro-rata share of the Net Settlement Amount that is equal toand will be calculated as follows: (i) the number of workweeks the Participating weeks you worked as a Class Member worked during the Class Period, based on the Class Data provided by Defendant, (ii) divided by the total number of workweeks weeks worked by any and all Participating Class Members collectively during the Class Period, based on the same Class Data, (iii) which is then multiplied by the Net Settlement Amount. One day worked in If a given week Class Member opts out of the Settlement, his or her pro rata share of the Net Settlement Amount will flow back to the Net Settlement Amount and be credited as one workweek for distributed to the Participating Class Members on a pro rata basis. For purposes of this calculation. Therefore, the value of each Participating Settlement Administrator will use the Class Member’s Individual Settlement Share ties directly Data to calculate the number of workweeks the Participating worked by each Class Member worked during the Class Periodbased on their dates of employment. Although your exact share of the Net Settlement Amount cannot be precisely calculated until after the time during which Class Members individuals may submit disputes regarding, objections to, object or requests for seek exclusion from the Settlement concludes, based upon the calculation above, your approximate Individual Settlement Share from share of the Net Settlement Amount, is as follows: $ , less taxes. This is based on Defendant’s Defendants’ records, which show you worked workweeks during the Class Period. The amount of your Individual Settlement Share will change if Class Members opt out of the class portion of the proposed Settlement, if workweek estimates change, and/or if the Court does not approve all the above-referenced payments from the Gross Settlement Amount in full. Twenty percent (20%) of your Individual Settlement Share will be treated as unpaid wages. The Applicable taxes will be withheld from the wages portion of your Individual Settlement Share will be subject to all tax withholdings customarily made from an employee’s wages only and all other authorized and required withholdings and will be reported on an IRS Form W-2. Eighty The remaining eighty percent (80%) of your Individual Settlement Share will be treated as penalties, interest, and interest. The penalties and interest portions of your Individual Settlement Share will be subject to all authorized and required withholdings other than the tax withholdings customarily made from employees’ wages reimbursement and will be paid pursuant to an IRS Form 1099. The Settlement Administrator will mail your Individual Settlement Share check to the address the Settlement Administrator has on record for you. Therefore, it is important that you keep the Settlement Administrator informed of any change of address.