Common use of Monetary Settlement Clause in Contracts

Monetary Settlement. 13 In consideration of the Release set forth in section III.G. of this Stipulation and the 14 entry of Judgment on the claims of all Class Members, the Defendants will jointly pay the 15 sum of $1,025,000, within fifteen (15) days of the Effective Date of this settlement. Said 16 payment shall include all attorney’s fees and costs and shall be made payable to ▇▇▇▇▇▇ 17 ▇▇▇▇▇▇▇▇, Attorney Client Trust Account, to be distributed to the Class Representatives, 18 Claimants and Class Counsel by that office as follows: 19 The four Class Representatives shall each receive $9,000; 20 Those Claimants who have submitted Approved Claims shall each receive an equal 21 part of $639,000; 22 Class Counsel shall receive $350,000 for attorneys’ fees and costs, including all 23 costs associated with the administration of the Class Settlement Fund, transmittal and 24 publication of the Class Notice of Settlement Agreement and Claim Forms, review and 25 approval of Claim Forms and payment of Approved Claims.