To Class Counsel. At the Final Approval Hearing, Class Counsel will apply to the Court for an Attorneys Fee Award not to exceed 1/3 of the GSA (which equates to $100,000) and a Cost Award not to exceed $20,000. Defendants shall not oppose this request. The Settlement Administrator will pay the Court approved amounts for the Attorneys Fee Award and Cost Award out of the Gross Settlement Amount. Payroll tax withholding and deductions will not be taken from the Attorneys Fee Award or the Cost Award. IRS Forms 1099 will be issued to Class Counsel with respect to the Attorneys Fee Award. In the event the Court does not approve the entirety of the application for the Attorneys Fee Award and/or Cost Award, the Settlement Administrator shall pay whatever amount the Court awards, and neither Defendants nor the Settlement Administrator shall be responsible for paying the difference between the amount requested and the amount awarded. If the amount awarded is less than the amount requested by Class Counsel for the Attorneys Fee Award and/or Cost Award, the difference shall become part of the NSA and be available for distribution to Participating Class Members.
Appears in 1 contract
Sources: Settlement Agreement
To Class Counsel. At the Final Approval Hearing, Class Counsel will apply to the Court for an Attorneys for, and Defendant agrees not to oppose, a total Attorney Fee Award not to exceed 1/3 thirty-five percent (35%) or $131,250 of the GSA (which equates to $100,000) TC and a Cost Award not to exceed $20,000. Defendants shall not oppose this request. The Settlement Administrator will pay the Court court- approved amounts for the Attorneys Attorney Fee Award and Cost Award out of the Gross Total Consideration. The Settlement AmountAdministrator may purchase an annuity to utilize US treasuries and bonds or other attorney fee deferral vehicles for Class Counsel. Payroll tax withholding and deductions will not be taken from the Attorneys Attorney Fee Award or the Cost Award. IRS Forms 1099 will be issued to Class Counsel with respect to the Attorneys Fee Awardthese payments. In the event the Court does not approve the entirety of the application for the Attorneys Attorney Fee Award and/or Cost Award, the Settlement Administrator shall pay whatever amount the Court awards, and neither Defendants Defendant nor the Settlement Administrator shall be responsible for paying the difference between the amount requested and the amount awarded. If the amount awarded is less than the amount requested by Class Counsel for the Attorneys Attorney Fee Award and/or Cost Award, the difference shall become part of the NSA and be available for distribution to Participating Class Members.Class
Appears in 1 contract
Sources: Settlement Agreement
To Class Counsel. At the Final Approval Hearing, Class Counsel will apply to the Court for an Attorneys for, and Defendant agree not to oppose, a total Attorney Fee Award not to exceed 1/3 $157,500 (35% of the GSA (which equates to $100,000GSA) and a Cost Award not to exceed $20,000. Defendants shall not oppose this request25,000. The Settlement Administrator will pay the Court court-approved amounts for the Attorneys Attorney Fee Award and Cost Award out of the Gross Settlement Amount. The Settlement Administrator may purchase an annuity to utilize US treasuries and bonds or other attorney fee deferral vehicles for Class Counsel. Payroll tax withholding and deductions will not be taken from the Attorneys Attorney Fee Award or the Cost Award. IRS Forms 1099 will be issued to Class Counsel with respect to the Attorneys Fee Awardthese payments. In the event If the Court does not approve the entirety of the application for the Attorneys Attorney Fee Award and/or Cost Award, the Settlement Administrator shall pay whatever amount the Court awards, and neither Defendants Defendant nor the Settlement Administrator shall be responsible for paying the difference between the amount requested and the amount awarded. If the amount awarded is less than the amount requested by Class Counsel for the Attorneys Attorney Fee Award and/or Cost Award, the difference shall become part of the NSA and be available for distribution to Participating Class Members. Except as provided herein, each side shall bear its own attorneys’ fees and costs.
Appears in 1 contract
Sources: Settlement Agreement
To Class Counsel. At the Final Approval Hearing, Class Counsel will apply to the Court for an Attorneys for, and Defendants agree not to oppose, a total Attorney Fee Award not to exceed 1/3 one third (1/3) of the GSA (which equates to Gross Settlement Amount or $100,000) 352,102.00 and a Cost Award not to exceed Twenty Thousand Dollars and Zero Cents ($20,000. Defendants shall not oppose this request20,000.00). The Settlement Administrator will pay the Court Court-approved amounts for the Attorneys Attorney Fee Award and Cost Award out of the Gross Settlement Amount. Payroll tax withholding and deductions will not be taken from the Attorneys Attorney Fee Award or the Cost Award. IRS Forms 1099 will be issued to Class Counsel with respect to the Attorneys Fee Awardthese payments. In the event the Court does not approve the entirety of the application for the Attorneys Attorney Fee Award and/or Cost Award, the Settlement Administrator shall pay whatever amount the Court awards, and neither Defendants nor the Settlement Administrator shall be responsible for paying the difference between the amount requested and the amount awarded. If the amount awarded is less than the amount requested by Class Counsel for the Attorneys Attorney Fee Award and/or Cost Award, the difference shall become part of the NSA Net Settlement Amount and be available for distribution to Participating Class Members. Except as provided herein, each side shall bear its own attorneys’ fees and costs.
Appears in 1 contract
Sources: Settlement Agreement