Gross Fund definition

Gross Fund means the principal amount of $1,175,000.00, which is the

Gross Fund means three million three hundred fifty thousand dollars and zero cents ($3,350,000.00). The Gross Fund provides payments to Class Members (defined below) to resolve their alleged New York City Human Rights Law claims; Service Awards to Named Plaintiffs Xxxxxxxx, Xxxxxxx, Xxxxxxx and Xxxxx; and Attorneys’ Fees and Costs.

Gross Fund means the maximum payment by Defendant pursuant to this Stipulation of One Million Two Hundred and Fifty Thousand Dollars and zero cents ($1,250,000.00) to fund the QSF. The Gross Fund shall include and be used to satisfy: (1) all Settlement Shares claimed by Qualified Collective Members; (2) any general release awards approved for Named Plaintiffs; (3) all Plaintiffs’ Counsel’s Attorneys’ fees and costs approved by the Court; (4) the reasonable fees and expenses of the Settlement Administrator; (5) the PAGA payments to the LWDA and the California PAGA Settlement Members approved by the Court; and (6) if any reversion balance remains after the payment of items (1)-(5), AUS’s share of payroll taxes for the wage portion of the Gross Fund claimed by Named Plaintiffs and Qualified Collective Members. If the reversion is insufficient to cover the amount of AUS’s share of payroll taxes, AUS shall pay the additional amount to cover its payroll taxes to the QSF. With the exception of Defendant’s share of payroll taxes, Defendant and/or the Released Parties shall not pay or be required to pay any amount in connection with this Settlement above and beyond the Gross Fund. Any amount remaining in the Gross Fund after payment of items (1)-(6) above will revert to Defendant pursuant to Section IX.4 below, except

Examples of Gross Fund in a sentence

• Plaintiffs' Counsel shall make an application to the Court for an award of attorneys' fees of up to one-third of the Gross Fund.

• In addition, Plaintiffs' Counsel shall seek reimbursement of their reasonable costs and expenses from the Gross Fund.

• Plaintiffs' Counsel shall seek a General Release Payment of $6,000.00 for each of the Plaintiffs (for avoidance of any doubt these include only Xxxxx Xxxxxx, Xxxx Xxxx, Xxxxx Xxxxx, Xxxxxx Xxxxxx, and Xxxxxx Xxxxxxx) as payment for a general release of claims, to be made from the Gross Fund.

• In order to determine the Net Fund, the Settlement Administrator shall provide a not-to-exceed binding estimate of the Settlement Administration fees within 10 days of the Court's approval of the Settlement, which shall be deducted from the Gross Fund.

• T-Mobile's employer-portion share of any employment taxes, including the FICA tax and any federal and state unemployment tax, with respect to payments of the Settlement Fund that are treated as wages is included in the Gross Fund.

More Definitions of Gross Fund

Gross Fund means the $151,000 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement, unless the number of the Settlement Class Members increases over the current estimate of 151, in which case the Gross Fund shall be increased on a pro rata basis (i.e., $1,000 per person added over the current estimate of $151,000]). The Gross Fund shall be decreased on a pro rata basis for each Settlement Class Member that timely and validly requests to be excluded from the Settlement Class (i.e., $1,000 less for each Settlement Class Member that timely and validly requests to be excluded from the settlement). Other than any reductions in the Gross Fund based on timely and valid requests for exclusion, none of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Settlement Class Counsel’s attorney fees and costs; the Settlement Administrator’s costs; and the Settlement Class Representative’s Service Award.

Gross Fund means the $538,125.00 that Defendant will pay to settle the claims of Settlement Class Members in the Action. The Gross Fund is the maximum amount that Defendant shall be obligated to pay under this Settlement. No amount of the Gross Fund shall revert back to Defendant. The term “Net Fund” is the Gross Fund minus the following deductions, which are subject to Court approval: Class Counsel’s attorney fees, litigation costs, settlement administration costs, and a service award to the Class Representative. The Net Fund shall be distributed pro rata to Settlement Class Members who timely return valid claim forms (“Settlement Class Participants”). Any Settlement Class Member who does not timely return a valid claim form shall not be entitled to a payment. Because of this method of allocation to Settlement Class Participants, there will be no unclaimed funds in the Settlement.

Gross Fund means Three Million Six Hundred Fifty Thousand Dollars ($3,650,000.00), paid by T-Mobile to settle the Litigation.