Common use of Settlement Formula Clause in Contracts

Settlement Formula. The total gross settlement amount is Six Hundred and Thirty-Nine Thousand Dollars ($639,000.00) (the “Gross Settlement Amount”). The portion of the Gross Settlement Amount that is available for payment to Class Members is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Gross Settlement Amount less the following payments which are subject to approval by the Court: (1) attorneys’ fees, in an amount not to exceed 1/3 of the Gross Settlement Amount (i.e., $213,000.00 if the Gross Settlement Amount is $639,000.00), and reimbursement of litigation costs and expenses, in an amount not to exceed Twenty Thousand Dollars ($20,000.00) to Class Counsel; (2) Enhancement Payment in an amount not to exceed Ten Thousand Dollars ($10,000.00) to Plaintiff for his services in the Action; (3) the amount of Thirty Thousand Dollars ($30,000.00) allocated toward civil penalties under the Private Attorneys General Act (“PAGA Amount”), of which the LWDA will be paid 75% ($22,500.00) (“LWDA Payment”) and the remaining 25% ($7,500.00) will be distributed to PAGA Employees (“PAGA Employee Amount”); and (4) Settlement Administration Costs in an amount not to exceed Eight Thousand and Five Hundred Dollars ($8,500.00) to the Settlement Administrator. Class Members are eligible to receive payment under the Class Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of weeks each Class Member worked for Defendant as an hourly-paid and/or non-exempt employee in California during the Class Period (“Workweeks”). The Settlement Administrator has divided the Net Settlement Amount by the Workweeks of all Class Members to yield the “Estimated Workweek Value,” and multiplied each Class Member’s individual Workweeks by the Estimated Workweek Value to yield an estimated Individual Settlement Share that each Class Member may be entitled to receive under the Class Settlement (which is listed in Section III.C below). Class Members who do not submit a timely and valid Request for Exclusion (“Settlement Class Members”) will be issued their final Individual Settlement Payment. Each Individual Settlement Share will be allocated as twenty percent (20%) as wages, which will be reported on an IRS Form W-2, and eighty percent (80%) as penalties, interest, and non-wage damages, which will be reported on an IRS Form 1099 (if applicable). Each Individual Settlement Share will be subject to reduction for the employee’s share of payroll taxes and withholdings with respect to the wages portion of the Individual Settlement Shares resulting in a net payment to the Settlement Class Member (“Individual Settlement Payment”). The employer’s share of taxes and contributions in connection with the wages portion of Individual Settlement Shares (“Employer Taxes”) will be paid by Defendant separately and in addition to the Gross Settlement Amount. PAGA Employees are eligible to receive payment under the PAGA Settlement of their pro rata share of the PAGA Employee Amount (“Individual PAGA Payment”) based on the number of pay periods each PAGA Employee worked for Defendant as an hourly-paid and/or non-exempt employee in California during the PAGA Period (“PAGA Pay Periods”). The Settlement Administrator had divided the PAGA Employee Amount, i.e., 25% of the PAGA Amount, by the PAGA Pay Periods of all PAGA Employees to yield the “PAGA Pay Period Value,” and multiplied each PAGA Employee’s individual PAGA Pay Periods by the PAGA Pay Period Value to yield each PAGA Employee’s Individual PAGA Payment. Each Individual PAGA Payment will be allocated as one hundred percent (100%) penalties, will not be subject to taxes or withholdings, and will be reported on IRS Form 1099 (if applicable). If the Court grants final approval of the Settlement, Individual Settlement Payments will be mailed to Settlement Class Members and Individual PAGA Payments will be mailed to PAGA Employees at the address that is on file with the Settlement Administrator. If the address to which this Class Notice was mailed is not correct, or if you move after you receive this Class Notice, you must provide your correct mailing address to the Settlement Administrator as soon as possible to ensure you receive any payment that you may be entitled to under the Settlement.

Settlement Formula. The total gross maximum settlement amount consideration is Six Two Million Three Hundred and Thirty-Nine Thousand Dollars ($639,000.002,300,000) (the “Gross Settlement Amount”). The portion of the Gross Settlement Amount that is available for payment to Class Members who do not submit a timely and valid Request for Exclusion (“Settlement Class Members”) is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Gross Settlement Amount less the following payments which are subject to approval by the Court: (1) attorneysAttorneys’ fees, Fees and Costs in an amount not to exceed 1/3 35% of the Gross Settlement Amount (i.e., $213,000.00 if the Gross Settlement Amount is 805,000 of $639,000.00), 2,300,000) for attorneys’ fees and reimbursement of litigation costs and expenses, in an amount not to exceed Twenty Fifty Thousand Dollars ($20,000.0050,000) for reimbursement of reasonable litigation costs and expenses to Class Counsel; (2) Class Representative Enhancement Payment in an the amount not to exceed Ten of Eight Thousand Five Hundred Dollars ($10,000.008,500) to Plaintiff for his her services in the Action; (3) the amount of Thirty Two Hundred Fifty Thousand Dollars ($30,000.00250,000) that is allocated toward civil to penalties under the Private Attorneys General Act PAGA (“PAGA AmountPenalties”), of ; and (4) Settlement Administration Fees and Costs (which the LWDA are currently estimated not to exceed $15,000). The PAGA Penalties will be paid distributed 75% ($22,500.00187,500) to the Labor and Workforce Development Agency (“LWDA Payment”) and the remaining 25% (i.e., $7,500.0062,500) will be distributed to PAGA Employees Class Members on a pro rata basis based on their Workweeks (“Employee PAGA Employee Amount”); and (4) . Settlement Administration Costs in an amount not to exceed Eight Thousand and Five Hundred Dollars ($8,500.00) to the Settlement Administrator. Class Members are eligible will be entitled to receive payment under the Class Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement SharePayment”) based on the number of weeks each Class Member that he or she worked for Defendant as an hourly-paid and/or non-a non- exempt employee in California during the Class Period (“Workweeks”). The Settlement Administrator has divided the Net Settlement Amount by the total number of Workweeks of worked by all Class Members to yield the “Estimated Workweek Workweeks Value,” and multiplied each Class Member’s individual number of Workweeks by the Estimated Workweek Workweeks Value to yield an estimated Individual Settlement Share that each Class Member may be entitled to receive under the Class Settlement (which is listed in Section III.C below). Class Members who do not submit a timely and valid Request for Exclusion (“Settlement Class Members”) will be issued their final his or her Individual Settlement Payment. Each Individual Settlement Share will Payment shall be allocated as twenty percent (20%) as wages, which will be reported on an IRS Form W-2wages (“wages portion”), and eighty percent (80%) as penalties, interest, and non-wage damagesdamages (collectively, which the “non-wage portion”). Settlement Class Members will be reported on an IRS Form 1099 (if applicable). Each issued payment of their Individual Settlement Share will be subject to Payment after reduction for the required employee’s share of payroll taxes -side taxes, contributions, and withholdings with respect to the wages portion of the Individual Settlement Shares resulting in a net payment to the Settlement Class Member (“Individual Settlement Payment”). The employer’s share of taxes and contributions in connection with the wages portion of Individual Settlement Shares (“Employer Taxes”) will be paid reported by Defendant separately way of IRS Form W-2 and in addition to the Gross Settlement Amountnon-wage portion will be reported by way of IRS Form 1099. PAGA Employees All Class Members, regardless of whether they submit a Request for Exclusion, are also eligible to receive payment under the PAGA Settlement of their pro rata share of the Employee PAGA Employee Amount (“Individual PAGA Payment”) based on the number of pay periods each PAGA Employee worked for Defendant as an hourly-paid and/or non-exempt employee in California during the PAGA Period (“PAGA Pay Periods”). The Settlement Administrator had has divided the Employee PAGA Employee Amount, i.e., 25% of the PAGA Amount, Amount by the PAGA Pay Periods total number of Workweeks worked by all PAGA Employees Class Members to yield the “PAGA Pay Period Workweeks Value,” and multiplied each PAGA EmployeeClass Member’s individual PAGA Pay Periods number of Workweeks by the PAGA Pay Period Workweeks Value to yield each PAGA Employee’s his or her Individual PAGA Payment. Each Individual PAGA Payment will be allocated as one hundred percent (100%) penalties, will not be subject to taxes or withholdings, and which will be reported on an IRS Form 1099 (if applicable). If the Court grants final approval of the Settlement, Individual Settlement Payments will be mailed to each Settlement Class Members Member and Individual PAGA Payments will be mailed to PAGA Employees each Class Member at the his or her address that is on file with the Settlement Administrator. If the address to which this Class Notice was mailed is not correct, or if you move after you receive this Class Notice, you must make sure to provide your correct mailing address to the Settlement Administrator as soon as possible in a timely fashion, to ensure you receive any receipt of payment that you may be entitled to under the Settlementto.

Settlement Formula. The total gross settlement amount is Six [Two Hundred and Thirty-Nine Eighty Five Thousand Dollars ($639,000.00) 285,000.00)/[amount to be determined based on Workweeks per Section VIII.B of the Settlement Agreement] (the “Gross Settlement Amount”). The portion of the Gross Settlement Amount that is available for payment to Class Members is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Gross Settlement Amount Amount, less the following payments which are subject to approval by the Court: (1) attorneys’ fees, fees in an amount not to exceed 1/3 35% of the Gross Settlement Amount (i.e., $213,000.00 if the Gross Settlement Amount is $639,000.00), 99,750.00) (“Attorneys’ Fees”) and reimbursement of litigation costs and expenses, in an amount not to exceed Twenty Thousand Dollars ($20,000.00) (“Attorneys’ Costs”) to Class Counsel; (2) Enhancement Payment Incentive Award in an amount not to exceed Ten Five Thousand Dollars ($10,000.005,000.00) to Plaintiff for his her services in the Action; (3) Administration Fees in an amount not to exceed Twelve Thousand Five Hundred Dollars ($12,500.00) to the Settlement Administrator; and (4) the amount of Thirty Twenty Five Thousand Dollars ($30,000.0025,000) allocated toward civil penalties under the Private Attorneys General Act (“PAGA AmountAllocation”), of which the LWDA . The PAGA Allocation will be paid distributed 75% ($22,500.0018,750.00) to the LWDA (“LWDA Payment”) and the remaining 25% (i.e., $7,500.006,250.00) will be distributed to PAGA Employees Group Members (“PAGA Employee Group Member Amount”); and (4) Settlement Administration Costs in an amount not to exceed Eight Thousand and Five Hundred Dollars ($8,500.00) to the Settlement Administrator. Class Members are eligible entitled to receive payment under the Class Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of weeks each Class Member worked for Defendant as an hourly-paid and/or , non-exempt employee employees in California during the Class Period (“Workweeks”). The Settlement Administrator has divided the Net Settlement Amount by the total number of Workweeks of all Class Members to yield the (“Estimated Workweek Value,” ”) and multiplied each Class Member’s individual Workweeks by the Estimated Workweek Value to yield an estimated arrive at his or her Individual Settlement Share that each Class Member he or she may be entitled eligible to receive under the Class Settlement (which is listed in Section III.C below). Class Members who do not submit a timely and valid Request for Exclusion (“Settlement Class Members”) will be issued their final the net payment of each Settlement Class Member’s Individual Settlement Share, after reduction for the employee’s share of taxes and withholdings with respect to the wages portion of the Individual Settlement Share (“Individual Settlement Payment”). Each Individual Settlement Share will be allocated as twenty percent (20%) as wages, which will be reported on an IRS Form W-2, and eighty percent (80%) as penalties, interest, and non-wage damages, which will be reported on an IRS Form 1099 (if applicable)1099. Each Individual Settlement Share will shall be subject to reduction for the employee’s share of payroll taxes and withholdings with respect to due on the wages portion of the Individual Settlement Shares resulting in a net payment to the Settlement Class Member (“Individual Settlement Payment”)Share. The employer’s share of payroll taxes and contributions in connection with the wages portion of the Individual Settlement Shares Share (“Employer Taxes”) will be paid by Defendant separately and in addition to the Gross Settlement Amount. PAGA Employees Group Members are eligible to receive payment under the PAGA Settlement of their pro rata share of the PAGA Employee Group Member Amount (“Individual PAGA Payment”) ), based on the number of pay periods Workweeks of each PAGA Employee worked for Defendant as an hourly-paid and/or non-exempt employee in California Group Member during the PAGA Period (“PAGA Pay PeriodsWorkweeks”). The Settlement Administrator had has divided the PAGA Employee Amount, i.e., 25% of the PAGA Amount, Group Member Amount by the total number of PAGA Pay Periods Workweeks of all PAGA Employees to yield the Members (“PAGA Pay Period Workweek Value,” ”) and multiplied each PAGA EmployeeGroup Member’s individual PAGA Pay Periods Workweeks by the PAGA Pay Period Workweek Value to yield each PAGA Employee’s arrive at his or her Individual PAGA PaymentPayment that he or she may be eligible to receive under the PAGA Settlement (which is listed in Section III.C below). Each Individual PAGA Payment will be allocated as one hundred percent (100%) penalties, will not be subject to taxes or withholdings, and which will be reported on an IRS Form 1099 (if applicable). If the Court grants final approval of the Settlement, Defendant will fund the Gross Settlement Amount in three installment payments, over the course of approximately two years, as follows: On or before August 12, 2023, the Settlement Administrator will establish a qualified settlement account for administration of the Settlement (“Settlement Fund Account”) and Defendant will deposit 33.33% of the Gross Settlement Amount (i.e., $95,000) into the Settlement Fund Account (“First Installment”). On or before August 12, 2024, Defendant will deposit 33.33% of the Gross Settlement Amount (i.e., $95,000) plus an amount sufficient to pay Employer Taxes into the Settlement Fund Account (“Second Installment”). o Within ten days after the Second Installment has been deposited, the Settlement Administrator will issue payments as follows: Individual Settlement Payments to Settlement Class Members, Individual PAGA Payments to PAGA Group Members, LWDA Payment to the Labor and Workforce Development Agency, Incentive Award to Plaintiff, and Administration Fee to itself (the Settlement Administrator). On or before August 12, 2025, Defendant will deposit the remaining 33.33% of the Gross Settlement Amount (i.e., $95,000) into the Settlement Fund Account (“Third Installment”). o Within ten days after the Third Installment has been deposited, the Settlement Administrator will issue payment for Attorneys’ Fees and Costs to Class Counsel. If the Court grants final approval of the Settlement, Individual Settlement Payments will be mailed to Settlement Class Members and Individual PAGA Payments will be mailed to PAGA Employees Group Members at the address that is on file with the Settlement Administrator. If the address to which this Class Notice was mailed is not correct, or if you move after you receive this Class Notice, you must provide your correct mailing address to the Settlement Administrator as soon as possible to ensure you receive any your receipt of payment that you may be entitled to under the Settlement.

Settlement Formula. The total gross maximum settlement amount is Six Two Hundred and ThirtySeventy-Nine Five Thousand Dollars ($639,000.00275,000) (the “Gross Maximum Settlement Amount”). The portion of the Gross Maximum Settlement Amount that is available for payment to Class Members is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Gross Maximum Settlement Amount less the following payments which are subject to approval by the Court: (1) Attorneys’ Fees and Costs, consisting of attorneys’ fees, fees in an amount not to exceed 1/3 35% of the Gross Maximum Settlement Amount (i.e., $213,000.00 if the Gross Settlement Amount is $639,000.00), 96,250) and reimbursement of litigation costs and expenses, expenses in an amount not to exceed Twenty Thirty-Five Thousand Dollars ($20,000.0035,000) to Class Counsel; (2) Enhancement Payment in an amount not up to exceed Ten Seven Thousand Five Hundred Dollars ($10,000.007,500) to Plaintiff for his her services in the Action; and (3) the amount of Thirty Thousand Dollars ($30,000.00) allocated toward civil penalties under the Private Attorneys General Act (“PAGA Amount”), of which the LWDA will be paid 75% ($22,500.00) (“LWDA Payment”) and the remaining 25% ($7,500.00) will be distributed to PAGA Employees (“PAGA Employee Amount”); and (4) Settlement Administration Costs in an amount not to exceed Eight Eighteen Thousand and Five Hundred Dollars ($8,500.0018,000) to the Settlement Administrator. Class Members are eligible to receive payment under the Class Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of weeks that each Class Member worked for who did not sign an arbitration agreement was employed by Defendant as an hourly-paid and/or or non-exempt employee in California during the Class Period (“Workweeks”), which will be calculated by the Settlement Administrator using hire and termination dates as an hourly- paid or non-exempt employee during the Class Period as provided in the Class Data and List, counting one workweek for each week in which a Class Member performed any work for Defendant. The Settlement Administrator has divided the Net Settlement Amount by the Workweeks of all Class Members to yield the “Estimated Workweek Value,” and multiplied each Class Member’s individual Workweeks by the Estimated Workweek Value to yield an his or her estimated Individual Settlement Share that each Class Member he or she may be entitled eligible to receive under the Class Settlement (which is listed in Section III.C below). Class Members who do not submit a valid and timely and valid Request for Exclusion (“Settlement Class Members”) will be issued payment of their final Individual Settlement PaymentShare. Each Individual Settlement Share will be allocated as twenty twenty-five percent (2025%) as wages, wages which will be reported on an IRS Form W-2, W2 and eighty seventy-five percent (8075%) as penalties, interest, and non-wage damages, damages which will be reported on an IRS Form 1099 (if applicable). Each Individual Settlement Share will be subject to reduction for the employee’s share of payroll taxes and withholdings with respect to the wages portion of the Individual Settlement Shares Shares, resulting in a net payment to the Settlement Class Member Members (“Individual Settlement Payment”). The employer’s share of taxes and contributions in connection with the wages portion of Individual Settlement Shares (“Employer Taxes”) will be paid by Defendant separately and in addition to the Gross Settlement Amount. PAGA Employees are eligible to receive payment under the PAGA Settlement of their pro rata share of the PAGA Employee Amount (“Individual PAGA Payment”) based on the number of pay periods each PAGA Employee worked for Defendant as an hourly-paid and/or non-exempt employee in California during the PAGA Period (“PAGA Pay Periods”). The Settlement Administrator had divided the PAGA Employee Amount, i.e., 25% of the PAGA Amount, by the PAGA Pay Periods of all PAGA Employees to yield the “PAGA Pay Period Value,” and multiplied each PAGA Employee’s individual PAGA Pay Periods by the PAGA Pay Period Value to yield each PAGA Employee’s Individual PAGA Payment. Each Individual PAGA Payment will be allocated as one hundred percent (100%) penalties, will not be subject to taxes or withholdings, and will be reported on IRS Form 1099 (if applicable). If the Court grants final approval of the Settlement, Individual Settlement Payments will be mailed to Settlement Class Members and Individual PAGA Payments will be mailed to PAGA Employees at the address that is on file with the Settlement Administrator. If the address to which this Class Notice was mailed is not correct, or if you move after you receive this Class Notice, you must provide your correct mailing address to the Settlement Administrator as soon as possible to ensure you receive any payment that you may be entitled to under the Settlement.mailed