Distribution of Net Settlement Amount. 74. Within fourteen (14) days of the Effective Date, the Settlement Administrator shall determine the Net Settlement Amount. The Net Settlement Amount shall be equal to the Settlement Amount less the following:
Distribution of Net Settlement Amount. Within fourteen (14) calendar days of the Final Approval Order, the Company shall use reasonable efforts to cause the Recordkeeper (or its designee) to provide to the Settlement Administrator all information necessary to implement the Plan of Allocation, as well as an updated list of Participant Class Members and Authorized Former Participant Class Members prior to the distribution, so as to identify any such participants who have taken a full distribution from their Plan account and no longer have a Plan account with a balance greater than $0.00. Following receipt of this information, the Settlement Administrator shall distribute the Net Settlement Amount to Participant Class Members and Authorized Former Participant Class Members in accordance with the Plan of Allocation as described in Article V herein.
Distribution of Net Settlement Amount. Within 10 calendar days after the entry of the Preliminary Approval Order, Defense Counsel shall provide the Plan Data to Class Counsel and the Settlement Administrator. Within 10 calendar days after the Effective Date (unless Class Counsel direct the Settlement Administrator in writing to use a later date), the Settlement Administrator shall provide to Class Counsel a preliminary electronic file (in the form of a spreadsheet) containing the following information for each Class Member, drawn from the Plan Data: i) name; ii) most current address; iii) most current personal email address (where available); iv) Social Security number; v) status as Current Participant or Former Participant; and vi) preliminary amount of the Class Member Distribution for each Class Member calculated pursuant to the Allocation Method (including for Class Members who are calculated to be entitled to a de minimis amount). Class Counsel will promptly share this file with Defense Counsel. The Parties will work cooperatively and in good faith to resolve any issues related to this preliminary electronic file.
Distribution of Net Settlement Amount. The Net Settlement Amount shall be allocated among the members of the Settlement Class on a pro rata basis based on the number of Workweeks at Issue for each Settlement Class Member, and number of PAGA Pay Periods for each PAGA Releasee. The allocations to the Class Settlement Amount and the PAGA Settlement Amount is based on Workweeks at Issue and PAGA Pay Periods within each allocation group and the applicable statute of limitations periods. The initial calculation prior to the mailing of the Class Notice shall estimate (1) the gross Individual Settlement Payment that each Settlement Class DocuSign Envelope ID: 709BDE91-36CC-4940-9510-8E54E296371D Member may be eligible to receive based on their Workweeks at Issue, assuming that no Class Members opt out of the Class Settlement; and (2) the gross PAGA Payment that each PAGA Releasee may be eligible to receive based on the PAGA Pay Period. To the extent that individuals are both Settlement Class Members and PAGA Releasees, they shall be eligible to receive both an Individual Settlement Payment and a PAGA Payment. Separate check payments may be issued for Individual Settlement Payment checks and PAGA Payment checks; thus, individuals that are both Settlement Class Members and PAGA Releasees may be issued two separate check payments. The Net Settlement Amount shall be fully distributed, as follows:
Distribution of Net Settlement Amount. The Net Settlement Amount shall be allocated as follows: 70% to the Class Net Settlement Amount and 30% to the FLSA Net Settlement Amount. The Class Net Settlement Amount shall be further allocated as follows: 6.6% to Settlement Class Members in the Putative Arizona Class (“the Arizona Class Net Settlement Amount”), 8.4% to Settlement Class Members in the Putative Colorado Class (“the Colorado Class Net Settlement Amount”), 58.8% to Settlement Class Members in the Putative New York Class (“the New York Class Net Settlement Amount”), 10.3% to Settlement Class Members in the Putative Ohio Class (“the Ohio Class Net Settlement Amount”), and 15.9% to Settlement Class Members in the Putative Washington Class (“the Washington Class Net Settlement Amount”). The allocations to the Class Net Settlement Amount, the FLSA Net Settlement Amount, and the respective Putative State Classes is based on Class Counsel’s exposure analysis, and accounts for the number of individua ls within each allocation group, the applicable statute of limitations periods, and the differing substantive claims applicable to each allocation group. The initia l calculation prior to the mailing of the Notice Packet shall estimate (1) the gross Individual Class Settlement Share that each Settlement Class Member may be eligible to receive, assuming that no Putative Class Members opt out of the Class Settlement and that all Settlement Class Members negotiate their Individua l Class Settlement Share checks; and (2) the gross Individua l FLSA Settlement Share that each Opt-In Plaintiff may be eligible to receive, assuming that all Opt-In Plaintiffs negotiate their Individua l FLSA Settlement Share checks. To the extent that individua ls are both Settlement Class Members and Opt-In Plaintiffs, they shall be eligible to receive both an Individua l Class Settlement Share and an Individua l FLSA Settlement Share. Separate check payments may be issued for Individua l Class Settlement Share checks and Individua l FLSA Settlement Share checks; thus, individua ls that are both Settlement Class Members and Opt-In Plaintiffs may be issued two separate check payments. The Net Settlement Amount shall be fully distributed, as follows:
Distribution of Net Settlement Amount. After the Effective Date, and solely for purposes of this Agreement, the Settlement Shares shall be distributed by the Settlement Administrator as follows: (i)
Distribution of Net Settlement Amount. The Net Settlement Amount shall be distributed by the Settlement Administrator in accordance with the following eligibility requirements:
Distribution of Net Settlement Amount. The Settlement Administrator shall distribute the Net Settlement Amount to Class Members in accordance with the Plan of Allocation as described in Article V herein. Subject to at least thirty (30) calendar days’ written notice from the Settlement Administrator, the Company shall use reasonable efforts to cause the Recordkeeper (or its designee) to provide an updated list of Active Participants and Inactive Participants prior to the distribution, so as to identify any such participants who have taken a full distribution from their Plan account and no longer have a Plan account with a balance greater than $0.00.
Distribution of Net Settlement Amount. 16. Plaintiffs shall retain a Settlement Administrator to oversee the administration of the Settlement Fund and distribution of the Net Settlement Amount. Within five (5) business days of the Closing, the Stipulating Defendants (except for MDLY) shall provide or cause to be provided to the Settlement Administrator and Plaintiffs’ Counsel, at no cost to the Settlement Fund, Plaintiffs, Plaintiffs’ counsel, or the Settlement Administrator, the following information: (a) the stockholder register from MCC’s transfer agent, which listing shall include the names and mailing addresses for all Eligible Registered Owners and the number of Eligible Shares held by such Eligible Registered Owners; and (b) the names and mailing addresses for each of the Excluded Stockholders and the number of Excluded Shares held by such Excluded Stockholders, and the account information (including financial institution and account numbers where the Excluded Shares were held) for such Excluded Stockholders. In addition to the foregoing, Plaintiffs’ Counsel may request from Stipulating Defendants (except for MDLY) any additional information as may be required to distribute the Net Settlement Amount to Eligible Class Members and to ensure that the Net Settlement Amount is paid only to Eligible Class Members and not to Excluded Stockholders.
Distribution of Net Settlement Amount
