Common use of Net Settlement Amount Clause in Contracts

Net Settlement Amount. The Net Settlement Amount will be determined by the Settlement Administrator by subtracting the Class Counsel Award, Class Representatives’ Enhancement Awards, Individual and LWDA PAGA Payments, and Settlement Administrator Costs from the Total Settlement Amount. The anticipated Net Settlement Amount is $1,716,666.67. The Parties estimate the amount of the Net Settlement Amount to be calculated as follows: Total Settlement Amount: $2,800,000.00 Requested Class Rep. Enhancement Award: $30,000 ($10,000 each) Requested Class Counsel Fees: $933,333.33 Requested Class Counsel Costs: $40,000.00 Individual PAGA Payments to PAGA Settlement Group Members $12,500 LWDA PAGA Payment: $37,500.00 Settlement Administrator Costs: $30,000.00 Net Settlement Amount $1,716,666.67 This is a non-reversionary Settlement in which Defendants will pay the entire Total Settlement Amount. No portion of the Total Settlement Amount will revert to Defendants. The employers’ share of payroll taxes and other required withholdings from Individual Settlement Payments, including but not limited to FICA and FUTA contributions, if applicable, shall be paid separately from, and in addition to, the Total Settlement Amount. Any award of less than the amounts requested for enhancements, administrative costs, litigation costs, or attorneys’ fees will be returned to the Net Settlement Amount and distributed to the Settlement Class.

Net Settlement Amount. The Net Settlement Amount will be determined by the Settlement Administrator by subtracting the Class Counsel Award, Class Representatives’ Enhancement AwardsRepresentative’s Service Award, Individual and LWDA PAGA Payments, and Settlement Administrator Costs from the Total Settlement Amount. The anticipated Net Settlement Amount is $1,716,666.671,245,333. The Parties estimate the amount of the Net Settlement Amount to be calculated as follows: Total Settlement Amount: $2,800,000.00 2,000,000.00 Requested Class Rep. Enhancement Award: $30,000 ($10,000 each) 10,000.00 Requested Class Counsel Fees: $933,333.33 666,667.00 Requested Class Counsel Costs: $40,000.00 20,000.00*(note, likely less) Individual PAGA Payments to PAGA Settlement Group Members $12,500 6,250.00 LWDA PAGA Payment: $37,500.00 18,750.00 Settlement Administrator Costs: $30,000.00 33,000.00 Net Settlement Amount $1,716,666.67 1,245,333.00 This is a non-reversionary Settlement in which Defendants will pay the entire Total Settlement Amount. No portion of the Total Settlement Amount will revert to Defendants. The employers’ share of payroll taxes and other required withholdings from Individual Settlement Payments, including but not limited to FICA and FUTA contributions, if applicable, shall be paid separately from, and in addition to, the Total Settlement Amount. Any award of less than the amounts requested for enhancements, administrative costs, litigation costs, or attorneys’ fees will be returned to the Net Settlement Amount and distributed to the Settlement Class.