Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants and those Current Participants covered by Paragraphs 6.6 and 6.7 below, and to the Plan for distribution to the Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or an Authorized Former Participant, Beneficiary, or Alternate Payee of such a person. Current Participants shall receive their settlement payments as contributions to their Plan account(s), except as provided in Paragraph 6.6 below. Authorized Former Participants shall receive their settlement payments in the form of a check, as provided in Paragraph 6.7 below.
6.3 Beneficiaries will receive checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees will receive checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the plan of allocation as if they are a Current
Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Authorized Former Participants as set forth in Paragraph 6.6 below, and to the Plans for distribution to the accounts of Current Participants as set forth in Paragraph 6.5 below, both in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. Current Participants shall receive their settlement payments as contributions to the
6.3 Beneficiaries will receive settlement payments as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. This includes settlement payments to Beneficiaries determined by the participant’s Plan accounts during the Class Period and/or by the Beneficiary’s own Plan accounts during the Class Period if an account was created in the Plans for the Participant’s Beneficiary. Alternate Payees will receive settlement payments if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 pursuant to the terms of the applicable Qualified Domestic Relations Order. Beneficiaries and Alternate Payees with Active Accounts as of the date of the Motion for Preliminary Approval will receive payments by the method described in this Article 6 for Current Participants, subject to Paragraph 6.5.6 below. Beneficiaries and Alternate Payees who do not have Active Accounts as of the date of the Motion for Preliminary Approval will receive payments by the method described in this Article 6 for Authorized Former Participants. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
Plan of Allocation. 6.1. After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Authorized Former Participants and Current Participants in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
6.2. To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. Current Participants who have active Plan accounts on the date of the distribution shall receive their settlement payments as provided in Paragraph 6.5 below. Current Participants who have a $0 Plan account balance as of the date of the distribution shall receive their settlement benefits as provided in Paragraph 6.6 below. Authorized Former Participants shall receive their settlement payments as provided in Paragraph 6.7 below.
6.3. Beneficiaries will receive checks as described in this Article 6 in amounts corresponding to their entitlement as beneficiaries of the Current Participant or the Authorized Former Participant with respect to whom the payment is made. Alternate Payees will receive checks if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of an applicable Qualified Domestic Relations Order. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Authorized Former Participants and those Current Participants covered by Paragraphs 6.5, 6.6, and
Plan of Allocation. 2 Each Settlement Payment will be comprised of (1) a Base Payment Amount, (2) plus a 3 Supplemental Payment Amount, (3) minus the Settlement Class Member’s share of any Fee 4 Award, incentive awards to the Class Representatives, and Settlement Administration Expenses.
Plan of Allocation. The distribution of the Net Settlement Fund to the Settlement Class members shall be made in accordance with the Plan of Allocation to be proposed by Class Counsel and approved by the Court.
12.4.1. Prior to submission to the Court along with a motion for entry of the Preliminary Approval Order, Plaintiffs shall provide a copy of the Plan of Allocation to Defendants for review and comment. Defendants shall have no responsibility or liability for calculating the amounts payable to the Settlement Class members. Nor shall Defendants have any responsibility or liability for distributing the Net Settlement Fund to the Settlement Class members.
12.4.2. Any and all expenses of the implementation of the Settlement and of the Plan of Allocation shall be paid from the Qualified Settlement Fund.
12.4.3. Notwithstanding anything in this Settlement Stipulation to the contrary, the Plan of Allocation is a matter separate and apart from the Settlement between the Parties, and no decision by the Court concerning the Plan of Allocation shall affect the validity of the Settlement Stipulation or finality of the proposed Settlement in any manner.
12.4.4. The Settlement Administrator shall be responsible for implementing the Plan of Allocation. Upon the calculations being completed and reviewed by Class Counsel:
(a) Class Counsel shall direct the Settlement Administrator to provide the calculations to the Recordkeeper and Trustee, as defined in the Plan of Allocation; (b) Class Counsel shall direct the Financial Institution to disburse the Net Settlement Fund applicable to Participants With Active Plan Accounts at the time of distribution of the Final Individual Dollar Recovery, as defined in the Plan of Allocation, to the Recordkeeper and Trustee, as defined in the Plan of Allocation, for distribution in accordance with the Plan of Allocation; and (c) Class Counsel shall direct the Settlement Administrator to disburse the Net Settlement Fund applicable to Participants Without Active Plan Accounts at the time of distribution of the Final Individual Dollar Recovery, as defined in the Plan of Allocation, directly to such Settlement Class members.
12.4.5. In the event that Defendants or Class Counsel determine that it is necessary to modify the Plan of Allocation, Class Counsel and Defendants shall jointly discuss such modification and determine whether the modification is reasonable and appropriate under the circumstances. The Parties will jointly petition the Court for approval...
Plan of Allocation. 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to the Former Participants as set forth in Paragraph 6.6 below, and to the Plans for distribution to the accounts of Current Participants as set forth in Paragraph 6.5 below, both in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court.
6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant or a Former Participant, or a Beneficiary or Alternate Payee of such a person. Current Participants shall receive their settlement payments as contributions to their account(s) in the Plans, as provided for in Paragraph 6.5 below, unless, as of the date of their settlement payments, they no longer have an Active Account in the Plans, in which case they shall be treated as Former Participants. Former Participants shall receive their settlement payments in the form of checks or, if permitted by the Settlement Administrator, in the form of tax-qualified rollovers to an individual retirement account or other eligible employer plan, as provided in Paragraph 6.6 below.
6.3 Beneficiaries will receive settlement payments as described in this Article 6 in
Plan of Allocation. Neither Defendants nor their counsel have any responsibility for the Plan of Allocation or any application for attorneys’ fees or expenses submitted by Class Counsel or Class Representatives, and these matters shall be considered separately from the fairness, reasonableness and adequacy of the Settlement.
Plan of Allocation. Each capitalized term below has the definition provided in the Settlement Agreement.
Plan of Allocation. 5.1. Class Counsel shall prepare and submit a Plan of Allocation to the Court for approval in connection with a motion for preliminary approval of the Settlement, which Plan of Allocation shall propose the allocation of distributions from the Settlement Fund among Class Members, Class Representatives, Class Counsel, and any other person to receive a distribution from the Settlement Fund.
5.2. The Plan of Allocation shall include a provision for distribution of the Settlement Fund according to the following preferential order:
5.2.1. Payment of all expenses incurred by the Settlement Administrator for the Notice Plan and settlement administration;
5.2.2. Payment of any taxes associated with the Settlement Fund;
5.2.3. Payment of any Fee Award plus any interest or income earned on the Fee Award portion of the Settlement Fund and Incentive Awards within 14 days of the Effective Date;
5.2.4. Payment of the remaining unallocated portion of the Settlement Fund to Class Members in accordance with the Final Approval Order or any subsequent order of the Court within 14 days of the Effective Date; and
5.2.5. Payment of any residue of the Settlement Fund as set forth in this Agreement, subject to a reduction for any associated administrative costs.
