Settlement Fund Administrator. Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall then be appended hereto as Exhibit L.
Settlement Fund Administrator. This Exhibit L will be appended to the Agreement prior to the Initial Participation Date pursuant to subsection I.66. EXHIBIT M Settlement Payment Schedule Payment # /Year Suspension Applies to: Atty Fee, Costs & Additional Restitution Amount Base Incentives A, B & C (maximum) Incentive D (Lookback Payment) Credit Total Payment 1 ED+90 days None $103,244,576 $282,175,271 --- --- $14,580,153 $400,000,000 Payment 2 July 2022 None --- $658,320,615 --- --- --- $658,320,615 Payment 3 July 2023 Bonus $93,629,192 --- $526,905,161 --- $71,145,032 $691,679,385 Payment 4 July 2024 Bonus $93,629,191 $259,273,971 $549,768,597 --- $47,328,241 $950,000,000 Payment 5 July 2025 Bonus $43,720,414 $262,463,219 $634,274,384 --- $59,541,983 $1,000,000,000 Payment 6 July 2026 Bonus $43,720,414 $105,720,216 $54,325,273 --- $12,900,764 $216,666,667 Payment 7 July 2027 Bonus & lookback $43,720,414 $63,074,061 $54,325,273 $42,646,154 $12,900,765 $216,666,667 Payment 8 July 2028 Bonus & lookback $43,720,414 $63,074,060 $54,325,272 $42,646,154 $12,900,766 $216,666,666 Payment 9 July 2029 Bonus & lookback --- $82,748,246 $78,371,501 $42,646,154 $12,900,766 $216,666,667 Payment 10 July 2030 Base, bonus & lookback --- $82,748,248 $78,371,500 $42,646,154 $12,900,765 $216,666,667 Payment 11 July 2031 Base, bonus & lookback --- $82,748,248 $78,371,500 $42,646,153 $12,900,765 $216,666,666 Total $465,384,615 $1,942,346,155 $2,109,038,461 $213,230,769 $270,000,000 $5,000,000,000 NOTES:
Settlement Fund Administrator. Prior to the Initial Participation Date, Allergan and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall be appended hereto as Exhibit L.
Settlement Fund Administrator. Prior to the Initial Participation Date, Teva and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall be appended hereto as Exhibit L.
Settlement Fund Administrator. Prior to the Initial Participation Date, Walgreens and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall then be appended hereto as Exhibit L.
Settlement Fund Administrator. Wilmington Trust, National Association (“Wilmington Trust” or “Settlement Fund Administrator”) shall serve as the Settlement Fund Administrator and is intended to serve as an “administrator” as defined in Treas. Reg. § 1.468B-2(k)(3). In the event that Wilmington Trust becomes unable to continue to serve as the Settlement Fund Administrator, the Parties shall meet and confer and agree upon a replacement.
Settlement Fund Administrator. The entity that annually determines the Annual Remediation Payment (including calculating suspension, offset or reduction and Incentive Payments pursuant to Section IV and any amounts subject to offset or reduction pursuant to Section XI and Section XII), administers the Settlement Fund, and distributes amounts into the Remediation Accounts Fund, State Fund, and Subdivision Fund pursuant to this Agreement. The duties of the Settlement Fund Administrator shall be governed by this Agreement. Prior to the Initial Participation Date, Walgreens and the Enforcement Committee shall agree to selection and removal processes for and the identity of the Settlement Fund Administrator, and a detailed description of the Settlement Fund Administrator's duties and responsibilities, including a detailed mechanism for paying the Settlement Fund Administrator's fees and costs, all of which shall be appended to the Agreement as Exhibit L.
Settlement Fund Administrator. For the purpose of §468B of the Internal Revenue Code of 1986, as amended (26 U.S.C. §468B) and the regulations promulgated thereunder, the administrator of the Settlement Fund shall be the Escrow Agent. The Escrow Agent, or the Settlement Administrator on its behalf, shall timely and properly cause to be filed all informational and other tax returns necessary or advisable with respect to the Settlement Amount (including without limitation applying for a taxpayer identification number for the Settlement Fund and filing the returns described in 26 C.F.R. §1.468B-2(k)). Such returns, as well as the election described in Section 4.1, shall be consistent with this Article and, in all events, shall reflect that all taxes (including any estimated taxes, interest, or penalties) on the income earned by the Settlement Fund shall be deducted and paid from the Settlement Fund, as described in Section 4.5 herein.
Settlement Fund Administrator. The entity that annually determines the Annual Payment (including calculating Incentive Payments pursuant to Section IV and any amounts subject to suspension, offset, or reduction pursuant to Section XII and Section XIII), annually determines the Participation Tier pursuant to Section VIII.C, administers the Settlement Fund, and distributes amounts into the Abatement Accounts Fund, State Fund, and Subdivision Fund pursuant to this Agreement. The duties of the Settlement Fund Administrator shall be governed by this Agreement. Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee shall agree to selection and removal processes for and the identity of the Settlement Fund Administrator, and a detailed description of the Settlement Fund Administrator's duties and responsibilities, including a detailed mechanism for paying the Settlement Fund Administrator's fees and costs, all of which shall be appended to the Agreement as Exhibit L.
