Cy Pres Contribution. The Parties agree to create a fund that will be contributed to designated cy pres organization(s) to be mutually agreed upon by the Parties and approved by the Court (the “Cy Pres Fund”). The funding for the Cy Pres Fund shall come from two sources: uncashed checks, as described in paragraph 7 above, and through a contribution from Defendants depending upon the Contribution Amount (the “CPF Portion”). The CPF Portion of the Cy Pres Fund shall be computed as follows: in the event that the Contribution Amount is less than $1,000,000, the CPF Portion will be $235,000 plus the 50% of the difference between $1,000,000 and the Contribution Amount; in the event that the Contribution Amount is greater than $1,000,000 but less than $2,000,000, the CPF Portion will be $35,000 plus 20% of the difference between $2,000,000 and the Contribution Amount; in the event that the Contribution Amount is greater than $2,000,000 but less than the Settlement Cap, the CPF Portion will be 10% of the difference between the Settlement Cap and the Contribution Amount; and in the even that the Contribution Amount equals the Settlement Cap, the CPF Portion will be $0.
Cy Pres Contribution. Within thirty (30) days after the date by which the Settlement Administrator completes the process for stopping payment on any Cash Award checks from the Second Round of Distributions, or on any Cash Award checks for any additional distributions made pursuant to Section V(F), the Cy Pres Contribution Amount, if any, shall be provided to such recipients that are agreed upon by the Parties and reported to the Court.
