Maximum Gross Settlement Amount definition
Maximum Gross Settlement Amount means the agreed upon non-revisionary settlement amount totaling One Million Five Hundred Thousand Dollars and Zero Cents ($1,500,000.00) subject to the terms and conditions herein. The Maximum Gross Settlement Amount is inclusive of (1) payments to the Settlement Plaintiffs; (2) the PAGA Payment; (3) Employee’s Taxes and Required Withholdings (4) Class Counsel’s attorneys’ fees; (5) Class Counsel’s costs and expenses related to these Settled Lawsuits not to exceed $30,000.00; (6) all fees, costs, and expenses associated with a mutually agreed upon Settlement Administrator to administer the settlement currently estimated at $20,000.00; and (7) Service Award to the Plaintiff. Under no circumstances shall Defendant be obligated to pay any more than $1,500,000.00, or the specific amounts agreed upon by the Parties as set forth in this Settlement Agreement. Defendant is required to pay Employer Taxes in addition to the Maximum Gross Settlement Amount, as set forth herein, related to payments to Settlement Plaintiffs. Any interest earned on the Maximum Gross Settlement Amount during the period of settlement administration under this Settlement Agreement will remain Defendant’s sole and exclusive property.
Maximum Gross Settlement Amount means $100,000,000 and includes the Settlement
Maximum Gross Settlement Amount means the gross amount of Two Million Two Hundred Fifty Thousand Dollars ($2,250,000.00) that OSL has agreed to pay pursuant to this Settlement Agreement to resolve the claims asserted in the Lawsuit. The Maximum Gross Settlement Amount includes and covers: (a) all Individual Settlement Payments (as defined below) to Settlement Claimants; (b) all Court-approved attorneys’ fees, costs and expenses of Counsel for Settlement Claimants; (c) all Court-approved fees, costs, and expenses associated with a mutually agreed upon Settlement Administrator to administer the Settlement; (d) the Settlement Claimants’ share of all applicable payroll taxes related to their Individual Settlement Payments; and (e) Court-approved service payments to the Named Plaintiffs. The Maximum Gross Settlement Amount does not include the employer’s share of payroll taxes related to Individual Settlement Payments to Settlement Claimants, which shall be paid by OSL in addition to and separate from the Maximum Gross Settlement Amount. The Maximum Gross Settlement Amount is based on an understanding between the Parties that there were approximately 43,000 workweeks worked by exempt-classified Team Leads between April 10, 2017 and October 1, 2020. In the event that the total number of workweeks worked by the Putative Collective Members (as defined below) between April 10, 2017 and October 1, 2020 exceeds 43,050, Named Plaintiffs shall have the option of rescinding the Settlement Agreement; however, OSL shall have the option to preempt Named Plaintiffs’ right to rescind by increasing the Maximum Gross Settlement Amount on a proportional basis based on the percentage by which the actual number of workweeks worked by the Putative Collective Members between April 10, 2017 and October 1, 2020 exceeds 43,050 (e.g., if there is a 7% increaseto the number of workweeks, OSL may avoid rescission by increasing the Maximum Gross Settlement Amount by 7% to void Named Plaintiffs’ right to rescind the Settlement Agreement). Other than as set forth in this Settlement Agreement, OSL shall not be responsible for paying any other amount beyond the Maximum Gross Settlement Amount in connection with this Settlement.
Examples of Maximum Gross Settlement Amount in a sentence
Defendant shall be entitled to retain from the Maximum Gross Settlement Amount any amount that would have been payable as a Settlement Award to an individual of the Settlement Class who Opts-Out.
The PAGA Payment shall be paid from the Maximum Gross Settlement Amount.
The Maximum Gross Settlement Amount includes amounts appropriated to the Settlement Plaintiffs, the PAGA Payment, Settlement administration costs to the Settlement Administrator, Attorney’s Fees and Costs to Class Counsel, and Service Award.
Provided that the preconditions to payment are satisfied, Xxxxxxxxx agrees to pay the Maximum Gross Settlement Amount in full settlement of this Action.
Subject to final Court approval, Class Counsel accepts to be paid, One-Third of the Maximum Gross Settlement Amount.
More Definitions of Maximum Gross Settlement Amount
Maximum Gross Settlement Amount means the maximum amount that
Maximum Gross Settlement Amount means the amount of Nine Hundred Seventy-
Maximum Gross Settlement Amount means the maximum
Maximum Gross Settlement Amount means the maximum amount that Defendant shall cause to be paid pursuant to this Settlement, which is Four Million Nine Hundred Seventy Five Thousand Dollars and No Cents ($4,975,000.00), with the exception of the
Maximum Gross Settlement Amount means the maximum amount of money to be
Maximum Gross Settlement Amount means Seven Million Six Hundred Thousand Dollars and Zero Cents ($7,600,000.00) subject to the terms and conditions herein. The Maximum Settlement Amount is inclusive of (1) payments to the Settlement Plaintiffs;
Maximum Gross Settlement Amount means Two Million Sixty-Five Thousand Dollars ($2,065,000.00), the maximum amount Alteryx has agreed to pay (other than Employer Payroll Taxes), subject to Section 9.1(B).