Payment by Defendant. In light of the foregoing and in consideration for the contingent agreement of Plaintiff to dismiss its Complaint against Defendant with prejudice as set forth in P. 4.4.1 below, Defendant agrees and stipulates as follows:
4.2.1 Defendant will pay to Plaintiff the sum of One Million Three Hundred Thirty-Three Thousand, Three Hundred Thirty-Three Dollars and Thirty-Four cents ($1,333,333.34) plus interest as follows: PAYMENT DUE DATE PRINCIPLE INTEREST TOTAL ---------------- --------- -------- ----- October 31,2003 $87,222.23 112,777.77 200,000.00 November 28,2003 $415,370.37 6,230.56 421,600.93 -2- 198-75 SETTLEMENT AGREEMENT December 31,2003 $415,370.37 4,153.70 421,600.93 January 30, 2004 $415,370.37 2,076.85 419,524.07
4.2.1 All payments set forth above shall be made payable to "Warner Bros. Entertainment Inc." and mailed to Plaintiff at 4000 Warner Blvd., Burbank, California, 91522, Attn: General Counsex.
Payment by Defendant. Subject to final approval of the Settlement by the District Court, JBS agrees: (a) to pay the Service Award, the Settlement Administration Expenses Award, and the Attorneys’ Fees and Costs Award directly to each recipient thereto by issuing a check in their respective names; and (b) to pay the Settlement Awards directly to the Settlement Class Members, and issue appropriate tax forms to the Settlement Class Members as promptly as possible; and (c) to separately pay its share of applicable employer-side payroll taxes. JBS will not be responsible for making any additional payments pursuant to this Agreement. By making the payments set forth above, Defendant will fully discharge its financial obligations under this Agreement and shall have no further financial obligations under this Agreement, whether to the Settlement Class Members, to Plaintiff, to Class Counsel, to the Settlement Administrator, or otherwise.
Payment by Defendant. Defendant and Banyan Subsidiaries agree to pay to the Plaintiffs, Third-Party Defendants and Xxxxxx Xxxxxx the sum of $250,000 when this agreement is entered. Defendant agrees to pay $250,000 by wire transfer to the Xxxxx Law Firm COLTAF account pursuant to wire instructions provided by Xxxxx Law Firm. Upon receipt of the funds, Plaintiffs agree to file the Stipulated of Dismissal and also immediately dismiss and vacate any orders or judgments entered in all other actions commenced in connection with this Civil Action including but not limited to an action in Alberta Canada and an action in Oregon. In addition, Defendant and Banyan Subsidiaries agree to pay $160,000 to the Plaintiffs, Third-Party Defendants and Xxxxxx Xxxxxx in equal monthly installments of ten thousand dollars beginning on the first business day of July 2007 and the first business day of each subsequent month until paid in full to be paid by wire transfer to the Xxxxx Law Firm COLTAF account pursuant to wire instructions provided by Xxxxx Law Firm.
Payment by Defendant. By the later of either of the following: (A) thirty (30) calendar days from receipt by Defendant’s counsel of all of the following: (1) the original executed Agreement by Plaintiff, (2) an executed Amended Joint Motion to Approve Settlement and (3) fully executed W-9 forms by both Plaintiff and Plaintiff’s counsel, or (B) ten (10) calendar days from issuance of an order by the District Court approving this settlement and the terms of this Agreement and dismissing the Lawsuit, Defendant shall make a gross payment to Plaintiff and his counsel in the amount of TEN THOUSAND DOLLARS AND NO CENTS ($10,000.00) (the “Settlement Proceeds”). The Settlement Proceeds shall be delivered to counsel for Plaintiff and payable as follows:
a. Defendant shall pay a total of $8,000 to Plaintiff, in the following manner: Defendant shall issue two payroll-type checks, each in the gross amount of $4,000.00, less applicable withholdings, made payable to “Xxxxxx Xxxxxx.” This amount is allocated to settle disputed claims for Plaintiff’s alleged lost wages under the FLSA and will be subject to applicable federal and state payroll tax withholdings; and
b. Defendant shall issue a check in the amount of $2,000.00 made payable to “Xxxxxxx & Xxxxx, LLP” for Plaintiff’s alleged attorneys’ fees and costs. Defendant will issue Forms 1099 for this payment to Plaintiff and Plaintiff’s counsel.
c. Plaintiff acknowledges and agrees that he is solely and entirely responsible for the payment and discharge of any additional federal, state, and local taxes, if any, that may, at any time, be found to be due upon or as a result of the Settlement Proceeds paid by Defendant hereunder. Plaintiff agrees to indemnify and hold Defendant harmless from any claim or liability for any such taxes and related penalties and/or interest, as a result of any failure by Plaintiff to pay taxes owed by him as a result of the settlement and payment of the Settlement Proceeds.
d. The parties agree that if the Court does not approve this Agreement and the settlement, this Agreement shall become null and void, and the parties shall return to their respective statuses as of the date and time an agreement to settle this matter was reached and the parties shall proceed in all respects as if this Agreement had not been entered into. Neither this Agreement, its terms nor the fact that the parties had reached a settlement shall be referenced or used against either party in this or any future litigation.
Payment by Defendant. In consideration of Plaintiff's release of claims, the dismissal with prejudice of the Plaintiff Lawsuit, and Plaintiff's other promises and agreements herein, Defendant shall pay Plaintiff the sum of $200,000.00, payable as follows:
(a) A cash payment of $30,000.00, less applicable withholding, within sixty (60) days of the execution of this Agreement, and
(b) $170,000.00 payable over eighteen (18) months in equal semi-monthly payments, less applicable withholding. These payments shall commence on March 15, 2017, and shall be made on the 15th and the last date of each month. Should Defendant fail to make a timely payment as set forth in Paragraph 1 (a) and (b), it shall be incumbent upon Plaintiff to notify Defendant, in writing, that a scheduled payment is late. Upon receipt of Plaintiff's written notice, Defendant shall have fifteen (15) days to cure the late payment. If Defendant fails to cure the late payment within fifteen (15) days, then the entire outstanding amount will become due and payable.
Payment by Defendant. Subject to approval of the Settlement by the Superior Court, Defendant agrees to deposit the Maximum Settlement Amount into a Qualified Settlement Fund (“QSF”) set up by the Settlement Administrator for purposes of processing the Settlement and paying the Service Awards, Full Release Awards, the Settlement Administration Expenses Award, the Attorney’s Fees and Costs Award, and the Settlement Awards. Defendant will not be responsible for making any additional payments except as expressly set forth below, whether to the Settlement Class Members, to Plaintiffs Xxxxxxx Xxxxxxx and Xxxx Xxxxx, to Class Counsel, to the Settlement Administrator, or otherwise (with the exception that Defendant agrees to pay the Defendant’s share of employer- side FICA, FUTA, and other similar, mandatory employer-side payroll taxes). By funding the QSF, Defendant will fully discharge their financial obligations under this Agreement and shall have no further financial obligations under this Agreement or related to the Case, whether to the Settlement Class Members, to Plaintiffs Xxxxxxx Xxxxxxx and Xxxx Xxxxx, to Class Counsel, to the Settlement Administrator, or otherwise (again with the exception that Defendant agree to pay their share of employer-side FICA, FUTA, and other similar, mandatory employer-side payroll taxes).
Payment by Defendant
