Incentive Award to Class Representatives Sample Clauses

Incentive Award to Class Representatives. At or before the time of the Fairness Hearing, Plaintiffs may apply to the Court for an Incentive Award for the Class Representatives in an amount not to exceed five thousand dollars ($5,000.00), each, (in addition to any payment to which they may be entitled as a member of the Settlement Class) to compensate them for their efforts in the Actions on behalf of the Settlement Class. Any Incentive Award will be deducted from the amount of the Settlement Fund in the manner set forth in Paragraph II.A.3., above, and will result in a pro rata reduction of the amount of refunds paid to the Settlement Class Members. The Parties’ Agreement to enter into this Stipulation of Settlement is not contingent upon the Court’s approval of the application for an Incentive Award. The Parties agree that the award of any Incentive Award is severable from the other terms of this Stipulation of Settlement, and that any decision by the Court with regard to such application will not have any effect on the other terms of this Stipulation of Settlement.
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