Common use of Individual Settlement Share Calculation Clause in Contracts

Individual Settlement Share Calculation. The Individual Settlement Share is calculated based on each Participating Class Member’s pro rata share of the Net Settlement Amount based on workweeks during the Class Period as follows: (i) the number of weeks they worked as a member of the Class during the Class Period, divided by (ii) the total number of weeks worked by all Class Members collectively during the Class Period, which amount is then multiplied by the Net Settlement Amount. If a Class Member opts out of the Settlement, their pro rata share of the Net Settlement Amount will flow back to the Net Settlement Amount and be distributed to the Participating Class Members on a pro rata basis. The Settlement Administrator will use the Class Data to calculate the number of workweeks worked by each Class Member based on their dates of employment for purposes of this calculation.

Individual Settlement Share Calculation. The Individual Settlement Share is calculated based on each Participating Class Member’s pro rata share of the Net Settlement Amount based on workweeks during the Class Period as follows: (i) the number of weeks they he or she worked as a member of the Class during the Class Period, divided by (ii) the total number of weeks worked by all Class Members collectively during the Class Period, which amount is then multiplied by the Net Settlement Amount. If a Class Member opts out of the Settlement, their his or her pro rata share of the Net Settlement Amount will flow back to the Net Settlement Amount and be distributed to the Participating Class Members on a pro rata basis. The Settlement Administrator will use the Class Data to calculate the number of workweeks worked by each Class Member based on their dates of employment for purposes of this calculation.