Determining Net Settlement Amount for Distribution Sample Clauses

Determining Net Settlement Amount for Distribution. The Settlement Administrator shall determine the total amount of money available for payout to Settlement Class Members, which is the Gross Settlement Amount less (1) the court-approved Attorney’s Fee and Cost Award, and (2) Administration Costs. In other words, the Net Settlement Amount is the portion of the Gross Settlement Amount remaining in the Settlement Fund that will be distributed to Settlement Class Members through the Claims Process.
Sample 1
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Related to Determining Net Settlement Amount for Distribution

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $995,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount or any payroll taxes prior to the deadline stated in Paragraph 6.1 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant or the Released Parties.

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.

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