Settlement Distribution Sample Clauses

Settlement Distribution. 1. Any Settlement Amounts held by the Claims Administrator shall be held in trust for the benefit of Class Members, the Public Litigation Funders, and Provincial Health Insurers, and after the Effective Date, shall only be paid in accordance with the provisions of this Settlement Agreement.

Settlement Distribution. The Claims Administrator will arrange for Settlement Distributions in accordance with the following process.

Settlement Distribution. The entire Settlement Amount (less attorneys’ fees and costs awarded by the District Court) will be distributed among all entities that are members of the Settlement Class (“Class Members”) and who timely submit a claim pursuant to the terms of this Settlement Agreement. A Class Member who timely submits a claim pursuant to the terms of this Settlement Agreement is a “Participating Class Member.” The Settlement Amount will be divided so that, to the extent possible and subject to the maximum distribution provision provided in subparagraph G below, Participating Class Members of approximately the same size and of similar lengths of years of coverage will receive the same amount. The following subparagraphs further describe the identification of Participating Class Members and how Blue Cross will calculate the size and length of years of coverage of each Participating Class Member. This distribution formula is largely based on the formula contained in the Plan of Action, which the Commissioner determined to be fair to Blue Cross fully insured groups.

Settlement Distribution. 69. No later than 30 days after the Effective Date, Chase will mail a check to each eligible member of the Settlement Class reflecting (a) a Fee Reimbursement in the amount of all Fees and Surcharges, if any, paid by that person in relation to his or her Juror Debit Card or Fact Witness Debit Card, and (b) any Remaining Balance contained in his or her Juror Debit Card account or Fact Witness Debit Card account. All settlement checks shall be valid for 180 days, after which the checks shall no longer be negotiable and the amounts paid shall be subject to escheatment. 70. After mailing to Settlement Class Members the checks reflecting Fee Reimbursements and Remaining Balances, Chase will close Juror Debit Card accounts and Fact Witness Debit Card accounts for all Settlement Class Members and will cease to process transactions attempted with Juror Debit Cards or Fact Witness Debit Cards.

Settlement Distribution. Class Member settlement shares to Participating Class Members will be calculated pro rata based on the number of Workweeks worked in the Class Period. Aggrieved Employee settlement shares will be calculated pro rata based on the number of Workweeks worked in the PAGA Period. Class Member Payments shall be reported as follows: (i) 20% of the amount distributed to each Participating Class Member will be considered wages, and will be reported as such to each Participating Class Member on a W-2 Form; and (ii) 80% of the amount distributed to each Participating Class Member will be considered liquidated damages, interest and statutory penalties on the unpaid wages, and will be reported as such to each Participating Class Member on an IRS Form 1099. The PAGA payments distributed to each Aggrieved Employee will be considered penalties and will be reported on an IRS Form 1099. ECF’s portion of the payroll taxes are not part of the Settlement Fund and shall be paid by ECF separately.

Settlement Distribution. As provided in paragraph H of the Settlement Agreement, 17 the Net Settlement Fund shall be defined as the Settlement Fund less (a) the cost of settlement 18 notice and administration, (b) the Attorneys’ Fees and Expenses Award, (c) Service Awards, and 19 (d) any Taxes.

Settlement Distribution. The Net Settlement Fund shall be allocated to Settlement Class Members who timely and properly negotiate the Settlement Distribution Checks. Each Settlement Class Member shall receive his or her pro rata share of the Net Settlement Fund, calculated by dividing the number of workweeks between June 22, 2008 and February 20, 2011 (the “Class Period”) in which he/she worked overtime hours – according to the business records of the Defendants – by the total number of workweeks during the Class Period in which all Settlement Class Members worked overtime hours, adjusting for any applicable minimum wage requirements.

Settlement Distribution. 70. A Settlement Class Member is eligible to receive a settlement payment (“Settlement Payment”) if the Settlement Class Member submitted a qualifying Claim, as defined by Paragraph 13. Not all Claims qualify for an award. In order for a Claimant to receive a Settlement Payment, a Claimant’s application must meet the race-neutral criteria of the Fund— for example, by adequately demonstrating losses related to COVID-19. The Settlement Administrator shall have sole discretion to determine whether a Claim qualifies for a Settlement Payment and to determine the amount of such Settlement Payment (if any). 71. Settlement Payments will be made via the method prescribed on the Settlement Class Member’s Claim. Should this method not allow for the successful deposit of any Settlement Payment, then the Settlement Administrator shall contact the Settlement Class Member, via the address identified in Paragraph 57, and obtain information permitting an alternative method of deposit. The Settlement Administrator shall make one and only one attempt to obtain updated information for the disbursement of a Claimant’s Settlement Payment. 72. Within 20 days of the State Defendants making a Settlement Payment, the Settlement Administrator shall mail a notice to the Settlement Class Member informing Settlement Class Member of the fact of such deposit. 73. If the Settlement Administrator is unable to obtain updated information for the disbursement of a Claimant’s Settlement Payment under those methods set forth in Paragraph 71, then that Claimant’s Settlement will be deemed an Unclaimed Settlement Payment and subject to disposition as set forth in Paragraph 74. 74. The total amount of any Unclaimed Settlement Payments shall be applied to the costs of Notice and settlement administration that have been incurred as of 150 days after the Effective Date. Any Unclaimed Settlement Payments remaining after payment of such costs will be returned to DAS; all eligible Claims having been fully funded as set forth under Paragraph 77, no cy pres recipients will be permitted under the terms of this Agreement.