Individual Settlement Share Calculations Sample Clauses
The Individual Settlement Share Calculations clause defines how each party’s portion of a settlement amount is determined. Typically, this involves specifying the formula or criteria used to allocate funds among claimants, such as based on the extent of damages, number of claims, or other agreed-upon factors. By establishing a clear method for dividing settlement proceeds, this clause ensures fairness and transparency, reducing disputes over distribution and streamlining the settlement process.
Individual Settlement Share Calculations. Individual Settlement Shares will be 6 calculated and apportioned from the Net Settlement Amount based upon the number of Class Members’ 7 Workweeks in the Class Period, as follows:
8 a. After Preliminary Approval of the Settlement, the Settlement Administrator will 9 divide the Net Settlement Amount by the Workweeks of all Class Members to yield the “Estimated 11 Workweek Value to yield his or her estimated Individual Settlement Share that he or she may be eligible 12 to receive under the Class Settlement.
13 b. After Final Approval of the Settlement, the Settlement Administrator will divide 14 the final Net Settlement Amount by the Workweeks of all Settlement Class Members to yield the “Final
Individual Settlement Share Calculations. Individual Settlement Shares will be calculated and apportioned from the Net Settlement Amount based on the Class Members’ Workweeks, as follows:
3.2.4.1. After Preliminary Approval of the Settlement, the Administrator will by divide the Net Settlement Amount by the total number of Workweeks worked by all Class Members to yield the “Estimated Workweek Value,” and multiply each Class Member’s individual Workweeks by the Estimated Workweek Value to yield his or her estimated Individual Settlement Share that he or she may be eligible to receive under the Class Settlement.
3.2.4.2. After Final Approval of the Settlement, the Administrator will divide the final Net Settlement Amount by the Workweeks of all Participating Class Members to yield the “Final Workweek Value,” and multiply each Participating Class Member’s individual Workweeks by the Final Workweek Value to yield his or her respective Individual Settlement Share.
Individual Settlement Share Calculations. Individual Settlement Shares will be 17 calculated and apportioned from the Net Settlement Amount based on the Class Members’ number of 18 Workweeks, as follows:
Individual Settlement Share Calculations. Individual Settlement Shares will be 2 calculated and apportioned from the Net Settlement Amount based on the Class Member Qualified 3 Workweeks, as follows:
4 a. After Preliminary Approval of the Settlement, the Settlement Administrator will 5 divide the Net Settlement Amount by the Qualified Workweeks of all Class Members to yield the
Individual Settlement Share Calculations. The Settlement Administrator shall determine the eligibility for, and the amounts of, any Individual Settlement Shares that Rule 23 Class Members and Opt In Plaintiffs may receive under the terms of this Settlement Agreement. Should any question arise regarding the determination of eligibility for participation in the Settlement or the amount of any Individual Settlement Payment under the terms of this Settlement Agreement, Class Counsel and CertifiedSafety’s Counsel will meet and confer in an attempt to reach an agreement. Any unresolved disputes concerning the administration of the Settlement Agreement will be resolved by the Court, under the laws of the State of California.
4.13.1. When calculating the Individual Settlement Payments for purposes of the Notices of Settlement, the Settlement Administrator will assume that each individual listed on the Class List is a Participating Individual. When calculating the Individual Settlement Payments to Participating Individuals following Final Approval (for purposes of preparing Individual Settlement Payment checks), the Settlement Administrator will not include Rule 23 Class Members who validly request exclusion from the Rule 23 component of the Settlement but will assume that all Opt In Plaintiffs cash their FLSA Settlement Checks.
4.13.2. Each Participating Individual will receive a share of the Net Settlement Amount based on the number of the Participating Individual’s Workweeks. Specific calculations of Participating Individuals’ Individual Settlement Shares shall be made as follows:
4.13.2.1. Each Participating Individual shall be eligible to receive a pro rata portion of the Net Settlement Amount based on the number of Workweeks the Participating Individual worked for CertifiedSafety at any time (1) in the State of California from April 21, 2013 to and including the date of Preliminary Approval, (2) in the State of Washington from April 21, 2014 to and including the date of Preliminary Approval, (3) in the State of Minnesota from March 12, 2016 to and including the date of Preliminary Approval, (4) in the State of Illinois from March 14, 2016 to and including the date of Preliminary Approval, (5) in the State of Alaska from April 23, 2016 to and including the date of Preliminary Approval, (6) in the State of Ohio from April 23, 2016 to and including the date of Preliminary Approval, and (7) if the Participating Individual is an Opt In Plaintiff, in all states other than California, Washington, Minnesota,...