Individual Payment Amount definition

Individual Payment Amount means the dividend of 1/4 of

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Individual Payment Amount means that portion of the total Payout Amount that each Plaintiff will receive in consideration of his or her executing this Agreement and agreement to the Settlement, including but not limited to the Release set forth in Section 3 below.

Individual Payment Amount means the portion of the Net Settlement 17 submits a claim form and does not submit a valid request for exclusion form).

Examples of Individual Payment Amount in a sentence

• Only Class Members who submit timely and valid Claims Forms shall be issued an Individual Payment Amount.

• Each Class Member who does not opt out of the Settlement and submits a valid and timely Claim Form shall receive an Individual Payment Amount.

• In exchange for CHO’s consideration described above, as well as for CHO’s other promises in this Agreement, CHO will be paid a court-approved service payment and an Individual Payment Amount, as defined in and calculated according to Sections 15(d), (e) and (h) of the Stipulation of Settlement and Release in the Lawsuit (“Stipulation of Settlement”), which amounts will be paid within the time limits provided in Sections 35 and 36 of the Stipulation of Settlement.

• For tax purposes, one hundred percent (100%) of each Individual Payment Amount shall be taxable as penalties, for which an IRS Form 1099 shall be issued and no withholdings shall be made.

• These fees shall include any costs associated with the required tax reporting on any Individual Payment Amount, and the issuing of any 1099 forms.

• In exchange for ▇▇▇▇▇▇▇▇▇▇’▇ consideration described above, as well as for ▇▇▇▇▇▇▇▇▇▇’▇ other promises in this Agreement, ▇▇▇▇▇▇▇▇▇▇ will be paid a court-approved service payment and an Individual Payment Amount, as defined in and calculated according to Sections 15(d), (e) and (h) of the Stipulation of Settlement and Release in the Lawsuit (“Stipulation of Settlement”), which amounts will be paid within the time limits provided in Sections 35 and 36 of the Stipulation of Settlement.

• Plaintiffs acknowledge and agree that they are responsible for and agree to pay the employee share of all federal, state and local taxes, withholdings, fines, penalties and interest associated with the payment of the Individual Payment Amount issued to them.

• Plaintiff will automatically be deemed a claiming Class Member and need not submit a Claim Form to be issued an Individual Payment Amount.

More Definitions of Individual Payment Amount

Individual Payment Amount means the portion of the Net Settlement Proceeds distributable to each Class Member who participates in the Settlement (i.e., who does not submit a valid request for exclusion form). The Individual Payment Amounts will be calculated by dividing the Net Settlement Proceeds by the total weeks worked by all participating Class Members in California during the Class Period, which will yield the applicable weekly rate. The weekly rate shall be multiplied by the number of weeks each individual participating Class Member worked for Defendant in California during the Class Period to yield their Individual Payment Amount. Each Participating Settlement Class Member who does not opt out will receive an Individual Payment Amount equal to their individual weeks worked during the Class Period multiplied by the Workweek Value. For each Previously Settling Class Member, their payment calculated pursuant to the formula above shall be reduced by their previous settlement payment, such that there will be an aggregate deduction from the Net Settlement Proceeds of the Previously Settling Class Member Credit. In no case shall any Previously Settling Class Members receive a payment under this agreement of less than $30.00. To the extent any Previously Settling Class Member excludes himself/herself from the Settlement, their allocation from the Previously Settling Class Member Credit shall be deducted from the Net Settlement Proceeds for purposes of the calculation above.

Individual Payment Amount means the portion of the Net Settlement Proceeds distributable to each Class Member who participates in the Settlement Class (i.e., who timely submits a valid Claim Form and who does not submit a timely and valid request for exclusion). Each such Class Member shall be paid an equal share of the Net Settlement Proceeds, subject to a maximum payment of $5,000 per Class Member if less than 100% of the Net Settlement Proceeds is claimed.