Examples of Award Recipients in a sentence
For income tax purposes, the Parties agree that, if required by law, settlement awards to the Award Recipients shall be allocated as non-wage income and shall not be subject to required withholdings and deductions.
As part of its Fee Application, Class Counsel will seek the Court’s approval of a “Service Award” of up to $5,000 for the Class Representative, to be paid from the Settlement Amount, for her time and effort spent conferring with Class Counsel, pursuing the Action in her own name, and recovering compensation on behalf of the Award Recipients.
Within fourteen (14) days after the Effective Date, the Settlement Administrator will distribute the Net Settlement Fund to the Award Recipients.
Within seven (7) days after the end of the Claims Period, the Settlement Administrator shall provide to Class Counsel and Defendant’s Counsel a list of all Award Recipients, divided into the No-Claim Class and the Claims-Made Class Participants.
After the Claims Period and Opt-Out Deadline have expired, the No-Claim Class members who have not opted out and the Claims-Made Class Participants will constitute the Award Recipients, each of whom receive a pro rata amount of the Net Settlement Fund.
Management of Award: Recipients must also comply with standard award management reporting requirements unless otherwise noted in the NOFO or NoA.
Other than the reporting requirements herein, Award Recipients shall be solely responsible for the reporting and payment of their share of any federal, state and/or local income or other taxes on payments received pursuant to this Settlement Agreement.