Payments to Participating Class Members a. Settlement Class Members must submit a timely, valid Claim Form to receive a payment. Settlement Class Members who do not exclude themselves from the settlement and who submit a timely, valid Claim Form are referred to as “Participating Class Members.”
b. All Participating Class Members will be eligible to receive an equal share of the Net Settlement Fund, which is to be allocated amongst the Participating Class Members pro-rata up to a maximum of $5,000 per Participating Class Member, with any amounts beyond $5,000 being paid out to the Legal Foundation of Washington. The amount of the Settlement Fund shall be based on the number of Participating Class Members. If the number of Participating Class Members is less than or equal to approximately 45% of the total Settlement Class (i.e., 218 Settlement Class Members), Defendant shall pay the amount of the Minimum Settlement Fund set forth above (i.e., $610,837.85). For every Participating Class Member above approximately 45% of the total Settlement Class (i.e., every Participating Class Member beyond the initial 218 Settlement Class Members referenced above), the value of the Net Settlement Fund shall increase by $1,337.69, subject to the total value of the settlement reaching the amount of the Maximum Settlement Fund (i.e., $968,000.00). For example, if there were 300 Participating Class Members, and assuming the Court approves the attorneys’ fees and costs, class representative awards, and settlement administration expenses listed in Paragraphs 9-10 and 12 above, the formula to calculate each Participating Class Member’s payment would be: ($610,837.851 + $109,690.582 - $285,560.00 - $15,000 - $20,000) / 300 = $1,333.23. Thus, under this example, each Participating Class Member would receive a settlement payment of $1,333.23. Under this same example, the Settlement Fund (i.e., the total amount due and owing from Defendant under this Settlement Agreement) would equal $720,528.43.
c. Settlement payments will be characterized as non-wage damages. The Settlement Administrator will prepare a 1099 for each Participating Class Member that reflects their settlement payment.
d. After 120 days following the date upon which the Settlement Administrator sends payments to Participating Class Members, one hundred percent (100%) of any individual settlement payment amounts associated with Participating Class Members’ uncashed checks will be sent by the Settlement Administrator to the Legal Foundation of Washington.
e. P...
Payments to Participating Class Members. In consideration for release of the claims of the Settlement Class against Defendant (as described more fully in Paragraphs 6-9, below), Defendant agrees to pay Participating Class Members on a claims made basis as follows: $4,200 per Participating Class Member. All Participating Class Members shall receive a payment of $4,200 even if the number of Participating Class Members exceeds the estimated 110 eligible Settlement Class members.
Payments to Participating Class Members. In order to be considered a Participating Class Member and recover their allocated Settlement Share, except as provided in this Agreement, a Settlement Class Member must timely submit a Claim Form (and not exclude himself/herself from the Settlement). Within (45) calendar days after the Effective Date, the Settlement Administrator will tender payment via check mailed via first class mail to each Participating Class Member in the amounts equaling their Settlement Share. The checks remitting these payments shall include the following language below the line for the recipient to endorse the check:
Payments to Participating Class Members a. Settlement Class Members must submit a timely, valid Claim Form to be considered a Participating Class Member and to receive an equal portion of the Class Fund (as defined in Paragraph 8 above). The named Plaintiff is not required to submit a Claim to receive his share of settlement funds.
b. All Participating Class Members will be eligible to receive an equal portion of the Class Fund pursuant to the following formula: (Maximum Settlement Fund (minus) attorneys’ fees and costs (minus) service award (minus) settlement administration expenses) / total number of Settlement Class Members = pro rata payment (“Settlement Payment”). For example, assuming the Court approves the fees and expenses listed in Paragraphs 9-10 and 12 above, the formula to calculate each Participating Class Member’s payment would be: ($165,000 - $55,000 - $10,000 - $15,000) / 76 = $1,118.42. Thus, under this example, each Participating Class Member would receive $1,118.42 each.
c. Settlement Payments will be characterized as statutory damages and interest. The Settlement Administrator will prepare a 1099 for each Participating Class Member that reflects their settlement payment.
d. After 120 days following the date upon which the Settlement Administrator sends payments to Participating Class Members, 100 percent (%) of any individual settlement payment amounts associated with Participating Class Members’ uncashed checks will be sent by the Settlement Administrator to the State of Washington with the associated name of the Participating Class Member pursuant to Washington’s Unclaimed Property Act (RCW 63.29, et seq.).
e. Plaintiff, Defendant, and their respective counsel have not made any representations regarding the tax consequences of the settlement payments made under this Settlement Agreement. Participating Class Members will be required to pay all federal, state or local taxes, if any, which are required by law to be paid with respect to the settlement payments. Participating Class Members agree to indemnify and hold Defendant harmless from any claim for unpaid taxes for the Settlement Payment from any taxing authority.
Payments to Participating Class Members
