Payments to Authorized Former Participants. and Current Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows: 6.4.1 The Settlement Administrator shall obtain from the Plan recordkeeper the quarter-ending account balances and quarter-ending account balances invested in the Plan’s Emerging Markets Equity Fund for each Class Member for the period September 30, 2010 through December 31, 2014. The Settlement Administrator shall also obtain the quarter-ending account balances for each Class Member as of December 31, 2019. 6.4.2 The Settlement Administrator shall obtain, in writing, an agreement among the Plan Fiduciary, Class Counsel, and the Settlement Administrator on the Net Settlement Amount, and the amount apportioned to the Class. 6.4.3 The Net Settlement Amount shall be divided into two portions: (1) the Administrative Fee Portion (“Fee Portion”) shall be eighty percent (80%) of the Net Settlement Amount; and (2) the Emerging Markets Equity Fund Portion (“EM Fund Portion”) shall be twenty percent (20%) of the Net Settlement Amount. 6.4.4 The Fee Portion will be allocated among Class Members as follows: a percentage of Fee Portion that is the product of the sum of the participant’s quarter-ending total account balances for each quarter from September 30, 2010 through December 31, 2013 divided by the sum of the quarter-ending net asset value of the Plan for each quarter during that period. Case 2:16-cv-06794-XX-XX Document 321-1 Filed 01/13/20 Page 17 of 66 Page ID #:26598 6.4.5 The EM Fund Portion will be allocated among Class Members as follows: a percentage of the EM Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the EM Fund for each quarter from December 31, 2010 through December 31, 2014 divided by the sum of the quarter-ending net asset value of the EM Fund for each quarter during that period. No amount shall be distributed to a Class Member that is five dollars ($5.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13. 6.4.6 For each Current Participant and Authorized Former Participant (and their Beneficiaries and Alternate Payees), the Settlement Administrator will calculate the total amount due to each such person in accordance with Paragraph 6.4.3 – 6.4.5. 6.4.7 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required distributions to Authorized Former Participants; and (b) instructing the Plan Fiduciary as to the amounts to be allocated to accounts of Current Participants and calculating the total amount to deposit in the Plan to fulfill this instruction. 6.4.8 In the event that the Settlement Administrator determines that the Plan of Allocation would otherwise require payments exceeding the Net Settlement Amount, the Settlement Administrator is authorized to make such changes as are necessary to the Plan of Allocation such that said totals do not exceed the Net Settlement Amount. 6.4.9 Unless the Settling Parties agree in writing, the total amount of all checks to be written by the Settlement Administrator plus the total amount of all allocations that the Plan Fiduciary is instructed to make to Current Participants’ accounts may not exceed the Net Settlement Amount. Nothing in this Paragraph 6.4.9 is intended to modify the requirements of Paragraph 6.8 below.
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Samples: Class Action Settlement Agreement, Class Action Settlement Agreement
Payments to Authorized Former Participants. and Current Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows:
6.4.1 The Settlement Administrator shall obtain from the Plan recordkeeper the quarter-ending account balances and quarter-ending account balances units invested in the Plan’s Emerging Markets Equity Fund SVF and each of the CSFs for each Class Member for Member, and the period September 30, 2010 through December 31, 2014. The Settlement Administrator shall also obtain value of units of each of the quarter-ending account balances for CSFs at the end of each quarter of the Class Member as of December 31, 2019Period.
6.4.2 The Settlement Administrator shall obtain, in writing, an agreement among the Plan Fiduciary, Class Counsel, and the Settlement Administrator on the Net Settlement Amount, and the amount apportioned to the Class.
6.4.3 each class and sub-class. The Net Settlement Amount shall be divided into two portionsallocated to the classes as follows: (1a) 34.2% to the Administrative Fee Portion Recordkeeping Class (the “Fee PortionRecordkeeping Allocation”); (b) shall be eighty percent 63% to the Stable Value Sub-Class (80%) of the Net Settlement Amount“SVF Allocation”); and (2c) 2.8% to the Emerging Markets Equity Company Stock Fund Portion Sub-Class (the “EM Fund PortionCSF Allocation”) shall ).
6.4.3 The Recordkeeping Allocation will be twenty percent (20%) of the Net Settlement Amount.divided among Class Members on a pro rata basis in proportion to each Class Member’s average
6.4.4 The Fee Portion SVF Allocation will be allocated divided among Class Members as follows: a percentage of Fee Portion that is the product of the sum of the participantStable Value Sub-Class on a pro rata basis in proportion to each Class Member’s average quarter-ending total account balances for each quarter from balance in the SVF between September 30, 2010 through 2000 and December 31, 2013 2006.
6.4.5 The CSF Allocation will be divided among Current Participants and Authorized Former Participants of the CSFs (other than persons excluded from the Company Stock Fund Sub-Class as indicated by Paragraph 2.15) on a pro rata basis in proportion to the sum average quarter-ending balance in the CSFs of each Current Participant and Authorized Former Participant between August 1, 2002 and December 22, 2008. Data from December 22, 2008 shall be used to determine the quarter-ending net asset value balance for the fourth quarter of the Plan for each quarter during that period. Case 2:16-cv-06794-XX-XX Document 321-1 Filed 01/13/20 Page 17 of 66 Page ID #:26598
6.4.5 The EM Fund Portion will 2008, which shall be allocated among Class Members as follows: a percentage of the EM Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested included in the EM Fund for each quarter from December 31, 2010 through December 31, 2014 divided by calculation of average balances during the sum of the quarter-ending net asset value of the EM Fund for each quarter during that period. No amount shall be distributed to a Class Member that is five dollars ($5.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13Period.
6.4.6 For each Current Participant and Authorized Former Participant (and their Beneficiaries and Alternate Payees)Participant, the Settlement Administrator will calculate the total amount due to each such person in accordance with Paragraph 6.4.3 – Current Participant and Authorized Former Participant by adding the amounts calculated pursuant to Paragraphs 6.4.3, 6.4.4, and 6.4.5.
6.4.7 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required distributions to Authorized Former Participants; and (b) instructing the Plan Fiduciary Defendants as to the amounts to be allocated distributed to accounts of Current Participants and calculating the total amount to deposit in the Plan Plans to fulfill this instruction.
6.4.8 In the event that the Settlement Administrator determines that the Plan of Allocation would otherwise require payments exceeding the Net Settlement Amount, the Settlement Administrator is authorized to make such changes as are necessary to the Plan of Allocation such that said totals do not exceed the Net Settlement Amount.
6.4.9 Unless the Settling Parties agree in writing, the total amount of all checks to be written by the Settlement Administrator plus the total amount of all allocations credits that the Plan Fiduciary is Defendants are instructed to make to Current Participants’ accounts Participants may not exceed the Net Settlement Amount. Nothing in this Paragraph 6.4.9 is intended to modify the requirements of Paragraph 6.8 below.below.
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Samples: Class Action Settlement Agreement
