Common use of WHAT DOES THE SETTLEMENT PROVIDE Clause in Contracts

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, NRECA or its insurers will pay $10,000,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further under Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively, Defendants will commit to certain processes and procedures designed to ensure that the Plan’s fees are reasonable and comply with applicable law. The complete terms regarding prospective relief are set forth in Article VII of the Settlement Agreement, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. All Class Members and anyone claiming through them will fully release the Released Parties from Released Claims. The Released Parties include (1) each Defendant; (2) each Defendant’s affiliates, members, shareholders, directors, officers, employees, attorneys, partners, insurers, predecessors, successors, and any person or agent acting on their behalf; (3) the Plan and any and all administrators, fiduciaries, parties in interest, service providers, and trustees of the Plan. Generally, the release means that Class Members will not have the right to xxx the Released Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire release language is set forth in the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, NRECA or its insurers will pay $10,000,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further under Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively, Defendants will commit to certain processes and procedures designed to ensure that the Plan’s fees are reasonable and comply with applicable law. The complete terms regarding prospective relief are set forth in Article VII of the Settlement Agreement, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. All Class Members and anyone claiming through them will fully release the Released Parties from Released Claims. The Released Parties include (1) each Defendant; (2) each Defendant’s affiliates, members, shareholders, directors, officers, employees, attorneys, partners, insurers, predecessors, successors, and any person or agent acting on their behalf; (3) the Plan and any and all administrators, fiduciaries, parties in interest, service providers, and trustees of the Plan. The governing releases are found within the Settlement Agreement at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to xxx the Released Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire release language is set forth in the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, NRECA or its insurers will pay $10,000,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further under Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively, Defendants will commit to certain processes and procedures designed to ensure that the Plan’s fees are reasonable and comply with applicable law. The complete terms regarding prospective relief are set forth in Article VII of the Settlement Agreement, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. All Class Members and anyone claiming through them will fully release the Released Parties from Released Claims. The Released Parties include (1) each Defendant; (2) each Defendant’s affiliates, members, shareholders, directors, officers, employees, attorneys, partners, insurers, predecessors, successors, and any person or agent acting on their behalf; (3) the Plan and any and all administrators, fiduciaries, parties in interest, service providers, and trustees of the Plan. The governing releases are found within the Settlement Agreement at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to xxx sue the Released Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire release language is set forth in the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, NRECA or its insurers will pay $10,000,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further under Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively, Defendants will commit to certain processes and procedures designed to ensure that the Plan’s fees are reasonable and comply with applicable law. The complete terms regarding prospective relief are set forth in Article VII of the Settlement Agreement, which is available on the Settlement Website at [xxx.xxxxxxxxxxxxxxxxx.xxx]. All Class Members and anyone claiming through them will fully release the Released Parties from Released Claims. The Released Parties include (1) each Defendant; (2) each Defendant’s affiliates, members, shareholders, directors, officers, employees, attorneys, partners, insurers, predecessors, successors, and any person or agent acting on their behalf; (3) the Plan and any and all administrators, fiduciaries, parties in interest, service providers, and trustees of the Plan. Generally, the release means that Class Members will not have the right to xxx sue the Released Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire release language is set forth in the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].