Settlement Formula. The maximum settlement amount is Two Hundred Seventy-Five Thousand Dollars ($275,000) (the “Maximum Settlement Amount”). The portion of the Maximum Settlement Amount that is available for payment to Class Members is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Maximum Settlement Amount less the following payments which are subject to approval by the Court: (1) Attorneys’ Fees and Costs, consisting of attorneys’ fees in an amount not to exceed 35% of the Maximum Settlement Amount (i.e., $96,250) and reimbursement of litigation costs and expenses in an amount not to exceed Thirty-Five Thousand Dollars ($35,000) to Class Counsel; (2) Enhancement Payment in an amount up to Seven Thousand Five Hundred Dollars ($7,500) to Plaintiff for her services in the Action; and (3) Settlement Administration Costs in an amount not to exceed Eighteen Thousand Dollars ($18,000) to the Settlement Administrator. Class Members are eligible to receive payment under the Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of weeks that each Class Member who did not sign an arbitration agreement was employed by Defendant as an hourly-paid or non-exempt employee in California during the Class Period (“Workweeks”), which will be calculated by the Settlement Administrator using hire and termination dates as an hourly- paid or non-exempt employee during the Class Period as provided in the Class Data and List, counting one workweek for each week in which a Class Member performed any work for Defendant. The Settlement Administrator has divided the Net Settlement Amount by the Workweeks of all Class Members to yield the “Estimated Workweek Value,” and multiplied each Class Member’s individual Workweeks by the Estimated Workweek Value to yield his or her estimated Individual Settlement Share that he or she may be eligible to receive under the Settlement (which is listed in Section III.C below). Class Members who do not submit a valid and timely Request for Exclusion (“Settlement Class Members”) will be issued payment of their final Individual Settlement Share. Each Individual Settlement Share will be allocated as twenty-five percent (25%) wages which will be reported on an IRS Form W2 and seventy-five percent (75%) penalties, interest, and non-wage damages which will be reported on an IRS Form 1099 (if applicable). Each Individual Settlement Share will be subject to reduction for the employe...
Settlement Formula. (a) Each Qualified Class Member’s Settlement Share shall be determined according to the formula set forth in Exhibit H as calculated by Class Counsel (in agreeing to this formula, which implements the Parties’ compromise as to the resolution of claims, Bloomberg does not admit that any Class Member’s liability or damages claim has merit).
(b) Any under-allocations to Qualified Class Members will be corrected to the extent possible on a pro rata basis using the Errors and Omissions Fund. The Errors and Omissions Fund will be funded by any Settlement Checks that remain uncashed at the end of the Payout Period, prior to distribution to the Cy Pres Recipients.
Settlement Formula. Class Counsel shall calculate the Settlement Shares according to the following process (the “Settlement Formula”):
(A) Only Qualified Class Members will be entitled to receive payment for a Settlement Share under this Agreement. Opt-Outs will not receive a Settlement Share and will not be bound by the Settlement.
Settlement Formula. The number of registered users at the current month that exceeds 1,000 A Charge standard at the current year for each user B Party A’s proportion in the profit allocation C Total settlement=A*B*C
Settlement Formula. The total Gross Settlement Sum is Two Million Two Hundred Fifty Thousand Dollars ($2,250,000) (the “Gross Settlement Sum”). The portion of the Gross Settlement Sum that is available for payment to Class Members who do not timely and validly request exclusion from the settlement (“Participating Class Members”) is referred to as the “Net Settlement Sum.” The Net Settlement Sum will be the Gross Settlement Sum less the following payments which are subject to approval by the Court: (1) attorneys’ fees in an amount up to $787,500 and reimbursement of litigation costs and expenses in an amount of up to Fifty Thousand Dollars ($50,000) to Class Counsel; (2) service awards in an amount not to exceed Seven Thousand Dollars ($7,000) each to Plaintiffs DiStefano, Busch, and Brims (totaling $21,000) for their services (“Service Payment”); (3) Settlement Administration Costs in an amount not to exceed Twenty-Five Thousand Dollars ($25,000) to the Settlement Administrator; and (4) payment to the Labor and Workforce Development Agency of its 75% share of the amount allocated to PAGA Penalties ($30,000) under the settlement (i.e., a payment in the amount of $30,000). Participating Class Members will be entitled to receive payment under the settlement of their share of the Net Settlement Sum (“Individual Settlement Amount”) based on number of numbers of workweeks worked by the Class Members as hourly-paid or non-exempt employees for Defendants iPayment, Inc. and/or Leaders Merchant Services, LLC from October 18, 2013 to the [Preliminary Approval Date] and/or for Defendant Paysafe Partners L.P. from June 6, 2015 to the [Preliminary Approval Date], in the State of California (“Workweeks”). Workweeks were calculated based on the start and end dates of each Class Member’s employment during the Class Period and dividing by seven. Individual Settlement Amounts will be calculated using the following formula: each Participating Class Member’s individual Workweeks will be divided by the total aggregate Workweeks of all Participating Class Members to derive his or her Payment Ratio Fraction. Each Participating Class Member’s Payment Ratio Fraction will be multiplied by the Net Settlement Sum to determine the Individual Settlement Amount. Each Individual Settlement Amount will be allocated as one-third (33.33%) wages (which will be reported on an IRS Form W2), and two-thirds (66.67%) penalties and interest (which will be reported on an IRS Form 1099, if applicable). Each Individual S...
Settlement Formula
