Net Settlement Fund and Allocation to Class Members Sample Clauses

Net Settlement Fund and Allocation to Class Members. (A) The allocation to Class Members for Settlement Checks will be made from the Net Settlement Fund.
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Net Settlement Fund and Allocation to Class Members. Gross Earnings. First, each Class Member’s individual gross earnings during their respective period of work at Defendants’ catered events (as reported on W-2 earning statements for the period 2011 - 2018) will be determined. Such information will be provided in the Class List to the Settlement Claims Administrator and Class Counsel. Based on tiers and total amount of wages per year, Class Members will be allocated points based on their total wages earned per year, in accordance with the following schedule: Tier Earnings (per year) Points for Year Tier 1 Less than $3,000 1 point Tier 2 $3,001 to $10,000 3 pts Tier 3 $10,001 to $15,000 5 pts Tier 4 $15,001 to $22,000 7pts Tier 5 $22,001 or more 8 pts To the extent that any Class Member’s wages are not known for a given year, they will be allocated 1 point for each respective year they worked, and all Class Members will be given such information on their individualized Claim Form to challenge or dispute such figures. If any Class Member elects to challenge, he/she may be required to submit a sworn statement along with documents reflecting their tenure length of amount of pay from services performed at Defendants’ catered events. Percentage Allocation. Second, each Class Member’s percentage is calculated by
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Net Settlement Fund and Allocation to Class Members. (A) A Class Member’s proportionate share of the Net Settlement Fund shall be determined by the Claims Administrator pursuant to the following formula (the Pro Rata Share):
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Net Settlement Fund and Allocation to Class Members. A. Calculation. Authorized Class Claimant’s Gross Individual Amount shall be computed as follows: Authorized Class Claimants employed between December 3, 2002 and December 31, 2012, inclusive, shall receive $30.13 for every reported work week. This weekly figure represents a total weekly payment comprised of the sums of: (i) $9.69, representing 1.5 hours per week of spread of hours compensation; (ii) $7.03, representing 0.5 hours of NYLL Section 230 prevailing wage compensation for the classification of Cook Level 1, less amounts paid; and (iii) $13.41, representing 1.8481 hours of “straight time” uncompensated work. Authorized Class Claimants employed between January 1, 2013 and November 1, 2015, inclusive, shall receive $20.44 for every reported work week. This weekly figure represents a total weekly payment comprised of: (i) $7.03, representing 0.5 hours of NYLL Section 230 prevailing wage compensation for the classification of Cook Level 1, less amounts paid; and (ii) $13.41, representing 1.8481 hours of “straight time” uncompensated work. Authorized Class Claimants employed between November 2, 2015 and March 31, 2016, inclusive, will receive a total payment of $250.00. If the Authorized Class Xxxxxxxx worked both prior to and after November 1, 2015 he or she will be entitled to only the greater of: (i) $250.00; or (ii) the amount calculated pursuant to the formula set forth in this Section for work performed on or prior to November 1, 2015. Defendants enter into this Agreement to calculate Class Members’ Gross Individual Amounts in the manner set forth above for the purposes of settlement only. Nothing above or otherwise herein shall be construed as an admission that Defendants were required to pay NYLL Section 230 prevailing wage compensation, or living wage compensation pursuant to New York City Administrative Code §6-109 et. seq., at the rate of a Cook Level 1 classification for any Class Members, or any other amount of wages, as set forth in this Section, at any period of time.
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Net Settlement Fund and Allocation to Class Members. Each Authorized Claimant shall be entitled to pay based on the number of weeks he or she worked for Defendants. To calculate this pay, each individual Authorized Claimant’s number of workweeks shall be divided by 6644 (which is the represented total number of combined weeks worked by all class members). This results in a percentage that shall be applied to the Net Settlement Fund (Total Settlement Fund minus Attorney’s Fees, Costs & Expenses) to determine the Authorized Claimant’s recovery amount. To the extent this amount does not exceed $1,000.00 for particular Authorized Claimants, said individuals shall still receive $1,000.00 as a minimum payment guaranteed to all Authorized Claimants.
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Net Settlement Fund and Allocation to Class Members. The Parties agree that the allocation formula described below is the best method for allocating settlement amounts amongst the various subgroups of Class Members, based on the presently available data.
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Net Settlement Fund and Allocation to Class Members 
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Related to Net Settlement Fund and Allocation to Class Members

  • Payments to Settlement Class Members (a) Defendant shall pay into the Escrow Account the amount of the Settlement Fund ($1,000,000.00), specified in Paragraph 1.33 of this Agreement, within sixty (60) days after Final Approval.

  • Notice to Settlement Class Members 5.1 The Parties agree that the following Notice Program provides reasonable notice to the Settlement Class.

  • Settlement Class Members “Settlement Class Members” shall mean all persons in the Class who do not exclude themselves pursuant to Section F, herein, and those who submit a Valid Claim.

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

  • Notice to Class Members 8.4.1 No later than three (3) business days after receipt of the Class Data, the Administrator shall notify Class Counsel that the list has been received and state the number of Class Members, PAGA Members, Workweeks, and Pay Periods in the Class Data.

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

  • Settlement Class 2. Pursuant to Rule 23(e)(1)(B)(ii) of the Federal Rules of Civil Procedure, the Court preliminarily finds that the Court will likely find that the requirements of Federal Rules of Civil Procedure 23(a) and 23(b)(3) have been satisfied for settlement and judgment purposes only. As to the requirements of Rule 23(a) for settlement purposes only, (i) the Settlement Class provisionally certified herein likely exceeds 100,000 individuals, and joinder of all would be impracticable; (ii) there are questions of law and fact common to the Settlement Class; (iii) Class Representatives’ claims are typical of the claims of the Settlement Class they seek to represent for purposes of settlement; and (iv) Class Representatives are adequate representatives of the Settlement Class. As to the requirements of Rule 23(b)(3) for settlement purposes only, questions of law and fact common to the Settlement Class predominate over any questions affecting any individual Settlement Class Member, and a class action on behalf of the Settlement Class is superior to other available means of settling and disposing of this dispute.

  • 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.

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

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