Examples of Settlement Class Members in a sentence
Subject to approval by the Superior Court, the calculations of gross (pre-tax) Settlement Awards for Settlement Class Members will be made by Class Counsel based on records that have been or will be submitted to Class Counsel by the Company, which records are presumed to be accurate.
Proposed Class Members who fail to submit a valid and timely Exclusion Letter on or before the Notice Deadline shall be deemed Settlement Class Members and shall be bound by all terms of the Settlement and any Final Judgment entered in this Case if the Settlement is approved by the Superior Court, regardless of whether they have objected to the Settlement.
Class Counsel shall be responsible for calculating the gross amounts of the Settlement Awards for Settlement Class Members in conformity with this Agreement.
Fifty Percent (50%) of each Settlement Award will be treated as non-wages (penalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099 (marked “Other Income”) shall be issued to the taxing authorities and eligible Settlement Class Members.
The remaining monies from the Class Fund will be allocated to individual Settlement Class Members pro rata based on wages paid during the Settlement Class Period, with the amounts being calculated by dividing each Settlement Class Member’s total wages during the Settlement Class Period by the total aggregate wages earned by all Settlement Class Members during the Settlement Class Period and then multiplying the resulting ratio by the portion of the Class Fund allocated to these payments.