Service Payment definition
Examples of Service Payment in a sentence
If the Court approves a Class Representative Service Payment of less than $15,000 for the Plaintiff, the remainder will be retained in the Net Settlement Amount for distribution to Participating Class Members.
In addition to the Settlement Share to be paid to Plaintiff, Plaintiff will apply to the Court for an award of not more than $15,000 as a Class Representative Service Payment.
A vacation, reversal, or modification of the Court’s award of the Class Representative Service Payment or the Class Counsel Fees Payment or Class Counsel Litigation Expenses Payment will not constitute a vacation, reversal, or material modification of the Judgment within the meaning of this paragraph, provided that Defendant’s obligation to make payments under this Settlement will remain limited by the Gross Settlement Amount.
Class Counsel will file with the Court their motion for the Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment and Class Representative Service Payment no later than the date the Plaintiff files the motion for final approval, and the application will be scheduled to be heard by the Court at the Final Approval Hearing.
Payroll tax withholding and deductions will not be taken from the Class Representative Service Payment and instead a Form 1099 will be issued to the Plaintiff with respect to the payment.