Common Contracts

Contract

May 5th, 2020

• Filed
  May 5th, 2020

Texaco Settlement Agreement Texaco settles the largest ever racial discrimination suit, agreeing to pay $115 million to approximately 1,400 class members, $26.1 million in raises over the next five years to minority workers, and $35 million to fund a Task Force to implement changes in the company's human resources programs. Read related documents. CONFIDENTIAL FOR SETTLEMENT PURPOSES ONLY AGREEMENT IN PRINCIPLE TO SETTLE This document constitutes an agreement in principle, effective November 15, 1996, between defendant Texaco, Inc. ("Texaco") and the named plaintiffs, both individually and in their capacities as class representatives, and their counsel, in Roberts, et al v. Texaco Inc., 94 Civ 2015 (S.D.N.Y.), to settle the individual and class claims (hereinafter "the claims") asserted against Texaco in that action on the terms and conditions set forth below which, among other terms and conditions, are to be included in a final, definitive, binding settlement agreement ("Agreement") b