Common use of KIA Clause in Contracts

KIA. 2012-2013 Rio, 2012-2013 Sorento 4 cylinder GDI, 2012-2013 Soul, 2012-2013 Sportage or 2011-2012 Optima Hybrid. The lawsuits allege that the Class Vehicles were advertised with incorrect fuel economy ratings. The defendants deny these allegations and deny any liability or wrongdoing. The court has not taken any position as to the truth or merits of the claims or defences by either side. A settlement agreement has been reached and approved by both of the Ontario Superior Court of Justice and the Quebec Superior Court that settles all litigation in Canada relating in any way to the represented or actual fuel economy characteristics of the Class Vehicles. The Defendants, while not admitting liability, will make lump sum settlement benefits available to persons who owned or leased a Class Vehicle before November 2, 2012. Certain groups are excluded from the settlement, such as certain vehicle fleet owners and persons who have previously executed a release in favour of Hyundai Auto Canada Corp., Hyundai Motor America, Inc., Kia Canada Inc. or Kia Motors America, Inc. The British Columbia and Saskatchewan actions will be discontinued. If you purchased or leased a Class Vehicle you should immediately review the full legal notice in this matter to ensure you understand your legal rights. A copy of the full legal notice may be viewed at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇. It can also be obtained by contacting class counsel as listed below. All persons residing anywhere in Canada who come within the class definition are automatically included in the settlement class unless they properly exclude themselves (“Opt Out”). All class members who do not Opt-Out will be forever barred from instituting individual actions in respect of the damages alleged in the class action. Opt-Out Forms must be completed by Claims for benefits under the settlement must be completed by . ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ “We are pleased with the proposed settlement, which we believe once again demonstrates Hyundai’s commitment to taking care of its customers,” said ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Senior Legal Counsel at Hyundai Auto Canada Corp. At the time of the restatement, Hyundai provided a reimbursement program to cover the additional fuel costs associated with the rating change – plus a 15 percent premium in acknowledgement of the inconvenience – to customers for as long as they owned or leased an affected vehicle. Affected owners and lessees are compensated based on their actual kilometers driven and the fuel costs for the region in which they live. “While customers have responded favorably to the original reimbursement program, today’s settlement is designed to provide them with an additional compensation option, again intended to make customers fully whole for Hyundai’s fuel economy ratings restatement,” said Hemmings. "Hyundai should be commended for doing the right thing and resolving this issue with its customers. The fact that a class member is able to choose one of a variety of lump sum payments, or to remain in the reimbursement program, provides real benefits to this large class of customers,” said ▇▇▇▇▇▇▇ Peerless of Siskinds LLP, the lead plaintiff lawyer involved in the settlement. Under the terms of the proposed settlement, a single lump sum payment will be provided as an option to the original reimbursement program. The lump sum payments will vary by type of vehicle, and will be reduced for any amounts already received through Hyundai’s existing reimbursement program. For example, an individual owner who purchased a new 2012 Elantra would receive a lump sum payment of $361, minus any previous reimbursement payments. Affected Hyundai owners may elect the one-time lump sum cash payment or remain in the auto company’s ongoing reimbursement program for as long as they lease or own the affected vehicle; the choice is theirs. Consumers can also elect other options, such as a dealership credit of 150 percent of the lump sum cash payment amount, or a credit of 200 percent of the cash amount toward the purchase of a new Hyundai vehicle. Courts in Ontario and Quebec are expected to review the agreement for approval in early 2014. Assuming approval is granted, notices will then be provided to all affected customers.

KIA. 2012-2013 Rio, 2012-2013 Sorento 4 cylinder GDI, 2012-2013 Soul, 2012-2013 Sportage or 2011-2012 Optima Hybrid. The lawsuits allege that the Class Vehicles were advertised with incorrect fuel economy ratings. The defendants deny these allegations and deny any liability or wrongdoing. The court has not taken any position as to the truth or merits of the claims or defences by either side. A settlement agreement has been reached and approved by both of the Ontario Superior Court of Justice and the Quebec Superior Court that settles all litigation in Canada relating in any way to the represented or actual fuel economy characteristics of the Class Vehicles. The Defendants, while not admitting liability, will make lump sum settlement benefits available to persons who owned or leased a Class Vehicle before November 2, 2012. Certain groups are excluded from the settlement, such as certain vehicle fleet owners and persons who have previously executed a release in favour of Hyundai Auto Canada Corp., Hyundai Motor America, Inc., Kia Canada Inc. or Kia Motors America, Inc. The British Columbia and Saskatchewan actions will be discontinued. If you purchased or leased a Class Vehicle you should immediately review the full legal notice in this matter to ensure you understand your legal rights. A copy of the full legal notice may be viewed at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇. It can also be obtained by contacting class counsel as listed below. All persons residing anywhere in Canada who come within the class definition are automatically included in the settlement class unless they properly exclude themselves (“Opt Out”). All class members who do not Opt-Out will be forever barred from instituting individual actions in respect of the damages alleged in the class action. Opt-Out Forms must be completed by Claims for benefits under the settlement must be completed by _ _ . ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ “We are pleased with the proposed settlement, which we believe once again demonstrates Hyundai’s commitment to taking care of its customers,” said ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Senior Legal Counsel at Hyundai Auto Canada Corp. At the time of the restatement, Hyundai provided a reimbursement program to cover the additional fuel costs associated with the rating change – plus a 15 percent premium in acknowledgement of the inconvenience – to customers for as long as they owned or leased an affected vehicle. Affected owners and lessees are compensated based on their actual kilometers driven and the fuel costs for the region in which they live. “While customers have responded favorably to the original reimbursement program, today’s settlement is designed to provide them with an additional compensation option, again intended to make customers fully whole for Hyundai’s fuel economy ratings restatement,” said Hemmings. "Hyundai should be commended for doing the right thing and resolving this issue with its customers. The fact that a class member is able to choose one of a variety of lump sum payments, or to remain in the reimbursement program, provides real benefits to this large class of customers,” said ▇▇▇▇▇▇▇ Peerless of Siskinds LLP, the lead plaintiff lawyer involved in the settlement. Under the terms of the proposed settlement, a single lump sum payment will be provided as an option to the original reimbursement program. The lump sum payments will vary by type of vehicle, and will be reduced for any amounts already received through Hyundai’s existing reimbursement program. For example, an individual owner who purchased a new 2012 Elantra would receive a lump sum payment of $361, minus any previous reimbursement payments. Affected Hyundai owners may elect the one-time lump sum cash payment or remain in the auto company’s ongoing reimbursement program for as long as they lease or own the affected vehicle; the choice is theirs. Consumers can also elect other options, WSLegal\070189\00001\9437253v26 such as a dealership credit of 150 percent of the lump sum cash payment amount, or a credit of 200 percent of the cash amount toward the purchase of a new Hyundai vehicle. Courts in Ontario and Quebec are expected to review the agreement for approval in early 2014. Assuming approval is granted, notices will then be provided to all affected customers.