Common use of Payments to Participating Class Members Clause in Contracts

Payments to Participating Class Members. a. Settlement Class Members must submit a timely, valid Claim Form to receive a payment. Settlement Class Members who do not exclude themselves from the settlement and who submit a timely, valid Claim Form are referred to as “Participating Class Members.” b. All Participating Class Members will be eligible to receive an equal share of the Net Settlement Fund, which is to be allocated amongst the Participating Class Members pro-rata up to a maximum of $5,000 per Participating Class Member, with any amounts beyond $5,000 being paid out to the Legal Foundation of Washington. The amount of the Settlement Fund shall be based on the number of Participating Class Members. If the number of Participating Class Members is less than or equal to approximately 30% of the total Settlement Class (i.e., 477 Settlement Class Members), Defendants shall pay the amount of the Minimum Settlement Fund set forth above (i.e., $1,638,670). For every Participating Class Member above 30% of the total Settlement Class (i.e., every Participating Class Member beyond the initial 477 Settlement Class Members referenced above), the value of the Net Settlement Fund shall increase by $1,384.84, subject to the total value of the settlement reaching the amount of the Maximum Settlement Fund (i.e., $3,180,000). For example, if there were 800 Participating Class Members, and assuming the Court approves the attorneys’ fees and costs, class representative awards, and settlement administration expenses listed in Paragraphs 9-10 and 12 above, the formula to calculate each Participating Class Member’s payment would be: ($1,638,6701 + $447,303.322 - $938,100 - $15,000 - $25,000) / 800 = $1,384.84. Thus, under this example, each Participating Class Member would receive a settlement payment of $1,384.84. Under this same example, the Settlement Fund (i.e., the total amount due and owing from Defendants under this Settlement Agreement) would equal $2,085,973. c. Settlement payments will be characterized as statutory damages and interest. The Settlement Administrator will prepare a 1099 for each Participating Class Member that reflects their settlement payment. d. After 120 days following the date upon which the Settlement Administrator sends payments to Participating Class Members, one hundred percent (100%) of any individual settlement payment amounts associated with Participating Class Members’ uncashed checks shall be transferred to the unclaimed property fund managed by the State of Washington in the name of the Settlement Class Member whose check remained uncashed and/or undeliverable. 1 This figure represents the Minimum Settlement Fund. 2 This figure represents the additional monies due from Defendants to cover the 323 additional Participating Class Members beyond the initial 477 Participating Class Members covered by the Minimum Settlement Fund, with each such additional Participating Class Member increasing the Net Settlement Fund by $1,384.84. e. Plaintiff, Defendants, and their respective counsel have not made any representations regarding the tax consequences of the settlement payments made under this Settlement Agreement. Participating Class Members will be required to pay all federal, state or local taxes, if any, which are required by law to be paid with respect to the settlement payments. Participating Class Members agree to indemnify and hold Defendants harmless from any claim for unpaid taxes for the settlement payment from any taxing authority.

Payments to Participating Class Members. a. Settlement Class Members must submit a timely, valid Claim Form to receive a payment. Settlement Class Members who do not exclude themselves from the settlement and who submit a timely, valid Claim Form are referred to as “Participating Class Members.” b. All Participating Class Members will be eligible to receive an equal share of the Net Settlement Fund, which is to be allocated amongst the Participating Class Members pro-rata up to a maximum of $5,000 per Participating Class Member, with any amounts beyond $5,000 being paid out to the Legal Foundation of Washington. The amount of the Settlement Fund shall be based on the number of Participating Class Members. If the number of Participating Class Members is less than or equal to approximately 3045% of the total Settlement Class (i.e., 477 218 Settlement Class Members), Defendants Defendant shall pay the amount of the Minimum Settlement Fund set forth above (i.e., $1,638,670610,837.85). For every Participating Class Member above 30approximately 45% of the total Settlement Class (i.e., every Participating Class Member beyond the initial 477 218 Settlement Class Members referenced above), the value of the Net Settlement Fund shall increase by $1,384.841,337.69, subject to the total value of the settlement reaching the amount of the Maximum Settlement Fund (i.e., $3,180,000968,000.00). For example, if there were 800 300 Participating Class Members, and assuming the Court approves the attorneys’ fees and costs, class representative awards, and settlement administration expenses listed in Paragraphs 9-10 and 12 above, the formula to calculate each Participating Class Member’s payment would be: ($1,638,6701 610,837.851 + $447,303.322 109,690.582 - $938,100 285,560.00 - $15,000 - $25,00020,000) / 800 300 = $1,384.841,333.23. Thus, under this example, each Participating Class Member would receive a settlement payment of $1,384.841,333.23. Under this same example, the Settlement Fund (i.e., the total amount due and owing from Defendants Defendant under this Settlement Agreement) would equal $2,085,973720,528.43. c. Settlement payments will be characterized as statutory damages and interestnon-wage damages. The Settlement Administrator will prepare a 1099 for each Participating Class Member that reflects their settlement payment. d. After 120 days following the date upon which the Settlement Administrator sends payments to Participating Class Members, one hundred percent (100%) of any individual settlement payment amounts associated with Participating Class Members’ uncashed checks shall will be transferred sent by the Settlement Administrator to the unclaimed property fund managed by the State Legal Foundation of Washington in the name of the Settlement Class Member whose check remained uncashed and/or undeliverable. 1 This figure represents the Minimum Settlement Fund. 2 This figure represents the additional monies due from Defendants to cover the 323 additional Participating Class Members beyond the initial 477 Participating Class Members covered by the Minimum Settlement Fund, with each such additional Participating Class Member increasing the Net Settlement Fund by $1,384.84Washington. e. Plaintiff, DefendantsDefendant, and their respective counsel have not made any representations regarding the tax consequences of the settlement payments made under this Settlement Agreement. Participating Class Members will be required to pay all federal, state or local taxes, if any, which are required by law to be paid with respect to the settlement payments. Participating Class Members agree to indemnify and hold Defendants harmless from any claim for unpaid taxes for the settlement payment from any taxing authority.to