YOUR INDIVIDUAL SHARE OF THE SETTLEMENT AMOUNT. The individual settlement payment for each Settlement Class Member (Settlement Class Members are those individuals who do not timely request exclusion from the Settlement) will be paid from the Net Settlement Amount and will be calculated as follows: The Settlement Administrator determine each Settlement Class Member’s individual Workweeks. The sum of all Settlement Class Members’ individual Workweeks will be the “Total Workweeks.” The Net Settlement Amount will be divided by the Total Workweeks to yield the “Workweek Value.” Each Settlement Class Member’s Individual Settlement Share will be determined by multiplying his or her individual Workweeks by the Workweek Value. The net payment of each Settlement Class Member’s Individual Settlement Share (after reduction of employee taxes) and plus individual PAGA payment (if applicable) is referred to as the “Individual Settlement Payment.”
YOUR INDIVIDUAL SHARE OF THE SETTLEMENT AMOUNT. Allowed Priority Claim (Priority Subclass) After payment of the amounts set forth in paragraphs A.1 through A.4 in Part III above under “Allowed Priority Claim,” the Settlement Administrator will divide the Net Settlement Amount by the combined number of workweeks that all of the Priority Subclass members worked between March 20, 2016 and September 16, 2016 (the “Weekly Priority Amount”). The Settlement Administrator will then multiply the Weekly Priority Amount by the total number of workweeks each Priority Subclass member was employed by ITT between March 20, 2016 and September 16, 2016 to arrive at the portion of the Allowed Priority Claim distributable to each Priority Subclass member. If any Priority Subclass member opts out of the settlement, that person’s share will be added to the amount available for distribution to the other Priority Subclass members who did not opt out. Allowed Unsecured Claim (Unsecured Subclass) Once the administration of ITT’s bankruptcy estate is concluded, the Trustee will provide Class Counsel with the total amount of the distribution on the Allowed Unsecured Claim (“Distributable Unsecured Amount”). Thereafter, the Distributable Unsecured Amount paid to each Unsecured Subclass member, if any, will be calculated as follows: After payment of the amounts set forth in paragraphs B.1 through B.4 in Part III above under “Allowed Unsecured Claim,” the Settlement Administrator will divide the remaining amount by the combined number of workweeks that all of the Unsecured Subclass members worked between January 12, 2012 and March 19, 2016 (the “Weekly Unsecured Amount”). The Settlement Administrator will then multiply the Weekly Unsecured Amount by the total number of workweeks each Unsecured Subclass member was employed by ITT between January 12, 2012 and March 19, 2016 to arrive at the portion of the Distributable Unsecured Amount distributable to each Unsecured Subclass member. If any Unsecured Subclass member opts out of the Settlement, that person’s share will be added to the amount available for distribution, if any, to the other Unsecured Subclass members who did not opt out.
YOUR INDIVIDUAL SHARE OF THE SETTLEMENT AMOUNT. The individual settlement payment for each Settlement Class Member (Settlement Class Members are those individuals who do not timely request exclusion from the Settlement) will be paid from the Net Settlement Amount and will be calculated as follows: The Settlement Administrator shall calculate the sum of all Settlement Class Members’ individual Pay Periods, which will be the “Total Pay Periods.” The Net Settlement Amount will be divided by the “Total Pay Periods” to yield the “Pay Periods Value.” Each Settlement Class Member’s Individual Settlement Share will be determined by multiplying his or her individual Pay Periods by the Pay Period Value. The net payment of each Settlement Class Member’s Individual Settlement Share (after reduction of Employee Taxes) and plus individual PAGA payment is referred to as the “Individual Settlement Payment.”
