Maximum Cap. Notwithstanding monetary contribution towards Non-Monetary Relief (Section 3.4), in no event shall Knix be required to pay any amount in excess of $2,000,000 (the “Maximum Cap”). Knix’s total financial commitment under this Agreement shall be comprised of the Cash Minimum Amount and any applicable Replenishment Amount up to the Maximum Cap, and Knix shall not be required to pay any additional amount in connection with the Agreement, the Settlement, the Action or the claims released in Section 10 of this Agreement. If total valid claims, notice and administration costs, Attorneys’ Fee and Expense Payment, and service awards would exceed the Maximum Cap, the payments to Settlement Class Members shall be reduced on a pro rata basis.
Appears in 2 contracts
Sources: Settlement Agreement, Settlement Agreement