Consideration to Settlement Class Members. 5.1. The Parties will establish a Settlement Fund under this Agreement. The Settlement Fund will be maintained, for the benefit of Settlement Class Members, at a chartered bank or other financial institution capable of serving in this role. Plycem and Class Counsel will jointly agree on the institution. The Claims Administrator will have the right to issue checks out of the Settlement Fund.
Consideration to Settlement Class Members. 96" The IP ! 1'nding ntities shall f'nd a settlement of #S O*-9,555,555"55 to be held in escrow and tr'st and thereafter distrib'xxx in a manner created b( Class Co'nsel and approved b( the Co'rts that grant the Preliminar( $pproval /rders and the 1inal /rders and 0'dgments as part of the Claims Process, incl'ding pa(ments of claims to be determined b( an independent Claims $dministrator to be appointed b( the Co'rts as contemplated in paragraph @C" Consistent with the terms of this $greement, the IP ! 1'nding ntities shall deposit the #S O*-9,555,555"55 into a Settlement 1'nd to be held in escrow and tr'st, 'p to #S O*55,555,555"55 of which ma( be 'sed to compensate the Settlement Classes, the cost of administration and notice, and 'p to #S O-9,555,555"55 of which ma( be 'sed to pa( an( award of attorne(sD fees and costs, as ordered b( the Co'rts" $ccordingl(, within *9 b'siness da(s from entr( of the last of the Preliminar( $pproval /rders, the IP ! 1'nding ntities shall pa( into the settlement acco'nt established b( this $greement the s'm of #S O*-9,555,555"55" @5" #ntil the ffective &ate or earlier termination of the $greement, the Settlement 1'nd shall be held, in accordance with paragraph @-, b( #BS in escrow and tr'st" To effect'ate this $greement, the following terms and conditions govern the holding of the Settlement 1'nd and the interest earned on s'ch f'nd" IP ! Inc" and Xxxxxxx XxXxxxx and Xxxxxxx Mright, or if either of them is 'navailable to f'lfill their d'ties then s'ch other co'nsel as designated b( the co'rt4appointed lead co'nsel, acting on behalf of Class Co'nsel, shall each need to approve the withdrawal of an( f'nds from the escrow acco'nt d'ring the period of time from deposit 'ntil the ffective &ate, if an(" If an( of the Co'rts which are asEed decline to enter a 1inal /rder and 0'dgment, or if for that or an( other reason this $greement terminates or becomes void before the ffective &ate, the Settlement 1'nd with accr'ed interest, less the reasonable notice and administration costs act'all( e?pended 'p to #S O*,955,555, shall be immediatel( released to the IP ! 1'nding ntities" Class Co'nsel and the IP ! &efendants covenant and agree to provide all necessar( signat'res and consents to release the Settlement 1'nd immediatel( to the Settling Part( entitled to receive it 'nder the terms of this $greement" 1ail're to abide b( these provisions for holding the Settlement 1'nd in escrow and tr'st shall constit'te a material defa'lt of thi...
Consideration to Settlement Class Members. 62. The Xxxx Defendants will fund the payment of Settlement Claims as described in this Agreement and approved by the Court in the Preliminary Approval Order and the Final Order and Judgment, by payments into a settlement fund to be administered by the Claims Administrator and funded as set forth in this Agreement. The settlement fund shall be treated as a "qualified settlement fund" for federal income tax purposes pursuant to Treas. Reg. § 1.468B-
Consideration to Settlement Class Members. 2.3.1 Best Buy will create a fund from the Net Settlement Amount for all Current Employee Participating Claimants in the amount of $274,280. Each Current Employee Participating Claimant shall receive $0.50 per Closing Shift that he/she worked during the Class Period, less applicable payroll tax withholdings. If a Current Employee Participating Claimant has worked fewer than five (5) Closing Shifts, he/she shall be treated as if he/she worked five (5) Closing Shifts for purposes of this Stipulation. In the event that this process would result in a cumulative total amount greater than $274,280, each Current Employee Participating Claimant shall then share in the fund’s monies on a pro rata basis accounting for the number of Closing Shifts each Current Employee Participating Claimant worked during the Class Period. In the event that this process results in a cumulative total amount less than $274,280, then the remaining fund monies shall revert to Best Buy.
Consideration to Settlement Class Members. 2.1.1. Within fifteen (15) days of the Effective Date, and only if the Effective Date occurs, Garda, through the Claims Administrator, and according to the terms, conditions, and procedures set forth in this Agreement, shall pay each Participating Claimant his or her Settlement Sum, less the withholdings described in Paragraphs 2.1.3 and 2.2.1.
Consideration to Settlement Class Members. 4.1. Within forty-five (45) days of the execution of the Agreement by or on behalf of all parties, CertainTeed agrees to pay into the Trust Account CAD $500,000.00 on account of the Settlement Amount. Within thirty (30) days of the Effective Date, CertainTeed agrees to pay CAD $6,750,000.00 into the Trust Account in full satisfaction of: (i) all payment obligations under this Agreement; and (ii) any and all claims released under this Agreement against the Released Persons.
Consideration to Settlement Class Members. 2.2.1. Defendant, through the Claims Administrator, and according to the terms, conditions, and procedures set forth in Section 2.7 of this Stipulation, shall pay each Participating Claimant according to the Allocation Formula. The Allocation Formula shall calculate each Class Member’s pro rata allocation percentage in the following manner: (i) First, using the data provided by Defendant pursuant to Section 2.5.2 of this Stipulation, the Claims Administrator will compute the number of unique Unpaid Internships for each Class Member from the start of each Class Member’s respective state’s maximum limitations period – July 3, 2007 if they had an Unpaid Internship in New York, February 4, 2010 if they had an Unpaid Internship in California, or February 4, 2011 if they had an Unpaid Internship in any other state (and not New York, or California) and then compute the total number of unique Unpaid Internships for all Class Members; (ii) Second, the Claims Administrator will divide the Net Settlement Amount, minus the $3,000 to be paid to Class Members who had Unpaid Internships in California per Paragraph 2.2.2, by the total number of unique Unpaid Internships as determined under step (i) to determine the settlement value for each unique Unpaid Internship;
Consideration to Settlement Class Members. 2.2.1. Calculation of Individual Settlement Award: Each Participating Claimant’s Individual Settlement Award shall constitute 70% of the amount of disputed wages previously paid to each Participating Claimant pursuant to Defendant’s investigation in 2014 and 2015. By way of example, based on individualized representations as to hours worked that they did not include on their timesheets, Xx. Xxxxxxxx was paid $17,447.91 and Xx. Xxxxxx was paid $7,191.99. As Participating Claimants, they will receive an additional 70% of their prior allocation. Xxxxxxxx’x recovery as a Participating Claimant will therefore be $12,213.54 (70% of $17,447.91); Xxxxxx’x recovery as a Participating Claimant will be $5,034.39 (70% of $7,191.99).
Consideration to Settlement Class Members. 2.2.1 Within thirty (30) days of the Effective Date, Chase will distribute the Maximum Settlement Amount into a Qualified Settlement Fund set up by the Claims Administrator. The Qualified Settlement Fund shall be administered by the Claims Administrator. All interest accrued on amounts placed in the Qualified Settlement Fund shall remain the property of Chase.
Consideration to Settlement Class Members. Defendants will provide the consideration described below in consideration and in exchange for Plaintiff’s and the Settlement Class Members’ promises, agreements, and obligations set out below.
