Common use of Maximum Settlement Amount Clause in Contracts

Maximum Settlement Amount. As consideration, Defendant agrees to pay a non- reversionary maximum amount (“Maximum Settlement Amount”) of $200,000.00 in full and complete settlement of this matter, as follows: A. The Parties have agreed to engage ILYM Group, Inc. as the “Claims Administrator” to administer this Settlement. B. The Maximum Settlement Amount shall be deposited with the Claims Administrator within thirty (30) days of the Court’s granting final approval of this Agreement, including the resolution of any appeal or objection process, or by April 19, 2024, whichever is later. C. The Maximum Settlement Amount includes: (1) All payments (including interest) to the Settlement Class; (2) All costs of the Claims Administrator associated with the administration of the Settlement; (3) The Class Representative’s Enhancement Payment; (4) Class Counsel’s attorneys’ fees and actual costs and expenses related to the Lawsuit; (5) $20,000.00 of the Maximum Settlement Amount has been set aside by the Parties as PAGA civil penalties. Per Labor Code Section 2699(i), 75% of such penalties, or $15,000.00, will be payable to the California Labor & Workforce Development Agency (“LWDA”) for its share of PAGA penalties as the “LWDA Payment,” and the remaining 25%, or $5,000.00, will be payable to the eligible members of the Settlement Class as the “PAGA Amount.” D. Defendant shall pay the standard company share of payroll taxes on all wages paid as part of this Settlement Agreement separate and apart from the Maximum Settlement Amount.

Maximum Settlement Amount. As consideration, Defendant agrees to pay a non- reversionary maximum amount (“Maximum Settlement Amount”) of $200,000.00 169,000.00 in full and complete settlement of this matter, as follows: A. The Parties have agreed to engage ILYM Group, Inc. Phoenix Class Action Administration Solutions as the “Claims Administrator” to administer this Settlement. B. The Maximum Settlement Amount shall be deposited with the Claims Administrator within by no later than thirty (30) days after notice of the Court’s granting entry of order of final approval of this Agreementthe settlement, including the resolution of any appeal or objection processbut in no event earlier than March 2, or by April 19, 2024, whichever is later2022. C. The Maximum Settlement Amount includes: (1) All payments (including interest) to the Settlement Class; (2) All costs of the Claims Administrator associated with the administration of the Settlement; (3) The Class Representative’s Enhancement Payment; (4) Class Counsel’s attorneys’ fees and actual costs and expenses related to the Lawsuit; (5) $20,000.00 10,000.00 of the Maximum Settlement Amount has been set aside by the Parties as PAGA civil penalties. Per Labor Code Section 2699(i), 75% of such penalties, or $15,000.007,500.00, will be payable to the California Labor & Workforce Development Agency (“LWDA”) for its share of PAGA penalties as the “LWDA Payment,” and the remaining 25%, or $5,000.002,500.00, will be payable to the eligible members of the Settlement Class as the “PAGA Amount.” D. Defendant shall pay the standard company share of payroll taxes on all wages paid as part of this Settlement Agreement separate and apart from the Maximum Settlement Amount.