Net Settlement Proceeds Sample Clauses
The Net Settlement Proceeds clause defines how the final amount of money received from a settlement, after deducting all applicable costs and expenses, is calculated and distributed. In practice, this clause specifies that any legal fees, administrative costs, or other related expenses are subtracted from the gross settlement amount before the remaining funds are allocated to the parties involved. Its core function is to ensure transparency and fairness in the distribution of settlement funds by clearly outlining what deductions are permitted and how the net amount is determined.
Net Settlement Proceeds the amount of money remaining after the Settlement Fund is reduced by the following amounts, none of which Defendant opposes:
a. any service award to the Named Plaintiff that the Court approves up to $6,000;
b. any award of attorneys’ fees and expenses up to one third of the total settlement fund; and
c. the cost of the Court-approved settlement administration process, including class notice. Settlement Agreement and General Release
Net Settlement Proceeds the amount of money remaining after the Gross Settlement is reduced by the following amounts, none of which WCA opposes:
a. any award of Class Counsel attorneys' fees up to 33.33% of the total Gross Settlement, plus costs;
b. Court-approve d costs of the settlement administra tion process; and
c. All other expenses of any type, including, but not limited to, service payments and mediation fees.
Net Settlement Proceeds. The Total Settlement Amount will be reduced by
(a) litigation costs and expenses; (b) the Settlement the payment to the LWDA; and (d) the service payments to Plaintiffs as the Class Representatives. The amount remaining after these deductions are made is . The Net Settlement Proceeds distributable to each Class Member will be calculated as follows:
(i) Class Pay Periods pay periods during which Class Members worked for any of the Defendants on at least one workday, during the Class Period and received a wage statement, according to the records of Defendants. pay periods during which a Class Member worked for any of the Defendants on at least one workday, during the Class Period and received a wage statement, according to the records of Defendants; and
(ii) Total Class Pay Periods Worked to the Individual Class Pay Periods Worked, calculated by dividing the Individual Class Pay Periods Worked of a Class Member by the Total Class Pay Periods Worked of all Class Members during the Class Period and multiplying this result by the Net Settlement Proceeds. However, the distribution formula may be modified so that no participating Class Member receives a payment of less than $10.
Net Settlement Proceeds the amount of money remaining after the Gross Settlement is reduced by the following amounts, none of which Defendant opposes:
(a) Any General Release Payment of up to $10,000.00 for Named Plaintiff;
(b) Any award of Class Counsel’s attorneys’ fees up to 33.33% of the total Gross Settlement (i.e., $250,000.00), plus reasonable litigation costs (up to $14,473.20); and
(c) Court-approved costs of the settlement administration process by the Settlement Administrator, including but not limited to distribution of the Notices of Settlement to Settlement Class Members (estimated to be $98,097.00).
Net Settlement Proceeds. The Total Settlement Amount will be reduced by
(a) Class Counsel’s awarded attorneys’ fees and litigation costs and expenses; (b) the Settlement Administrator’s fees and expenses; (c) the payment to the LWDA; (d) the service payments to Plaintiffs as the Class Representatives; and (e) Defendant’s potion of the payroll taxes for individual settlement payments made to Participating Class Members. The amount remaining after these deductions are made is defined as the “Net Settlement Proceeds.”
Net Settlement Proceeds. The settlement award issued to each Settlement Class member shall be based on a calculation of that member’s proportional share of the funds remaining in the Settlement Trust after deducting any Court-awarded attorneys’ fees and costs, notice and claims administration costs, class representative incentive award amounts, or other Court-approved expenses (the “Net Settlement Proceeds”).
Net Settlement Proceeds. The “Net Settlement Proceeds” means the amount of money remaining from the Maximum Settlement Amount after the amounts for Class Counsel’s awarded attorneys’ fees and litigation expenses, the PAGA Payment to the LWDA and PAGA Payment Shares to the PAGA Employees, the Settlement Administrator’s fees and out-of-pocket expenses, the employer’s share of withholdings/taxes applicable to the wage portions of the Individual Settlement Payments, and the amounts for Plaintiff’s awarded class representative Service Payment. Participating Class Members shall be paid exclusively from the Net Settlement Proceeds. The entire Net Settlement Proceeds shall be distributed to the Participating Class Members. All employee withholdings/taxes applicable to the wage portions of the Individual Settlement Payments made to the Participating Class Members, shall be deducted from such Individual Settlement Payments.