Settlement Formula Sample Clauses

A Settlement Formula clause defines the method for calculating the amount owed between parties when a contract is terminated, disputed, or otherwise requires a financial settlement. Typically, this clause outlines the variables, timing, and procedures for determining the final payment, such as referencing market values, outstanding obligations, or specific calculation methods. Its core practical function is to provide a clear, predetermined process for resolving financial balances, thereby reducing uncertainty and potential disputes over settlement amounts.
Settlement Formula. The total gross settlement amount is Six Hundred and Thirty-Nine Thousand Dollars ($639,000.00) (the “Gross Settlement Amount”). The portion of the Gross Settlement Amount that is available for payment to Class Members is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Gross Settlement Amount less the following payments which are subject to approval by the Court: (1) attorneys’ fees, in an amount not to exceed 1/3 of the Gross Settlement Amount (i.e., $213,000.00 if the Gross Settlement Amount is $639,000.00), and reimbursement of litigation costs and expenses, in an amount not to exceed Twenty Thousand Dollars ($20,000.00) to Class Counsel; (2) Enhancement Payment in an amount not to exceed Ten Thousand Dollars ($10,000.00) to Plaintiff for his services in the Action; (3) the amount of Thirty Thousand Dollars ($30,000.00) allocated toward civil penalties under the Private Attorneys General Act (“PAGA Amount”), of which the LWDA will be paid 75% ($22,500.00) (“LWDA Payment”) and the remaining 25% ($7,500.00) will be distributed to PAGA Employees (“PAGA Employee Amount”); and (4) Settlement Administration Costs in an amount not to exceed Eight Thousand and Five Hundred Dollars ($8,500.00) to the Settlement Administrator. Class Members are eligible to receive payment under the Class Settlement of their pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of weeks each Class Member worked for Defendant as an hourly-paid and/or non-exempt employee in California during the Class Period (“Workweeks”). The Settlement Administrator has divided the Net Settlement Amount by the Workweeks of all Class Members to yield the “Estimated Workweek Value,” and multiplied each Class Member’s individual Workweeks by the Estimated Workweek Value to yield an estimated Individual Settlement Share that each Class Member may be entitled to receive under the Class Settlement (which is listed in Section III.C below). Class Members who do not submit a timely and valid Request for Exclusion (“Settlement Class Members”) will be issued their final Individual Settlement Payment. Each Individual Settlement Share will be allocated as twenty percent (20%) as wages, which will be reported on an IRS Form W-2, and eighty percent (80%) as penalties, interest, and non-wage damages, which will be reported on an IRS Form 1099 (if applicable). Each Individual Settlement Share will be subject to reduction for the employee’s...
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Settlement Formula. The total Gross Settlement Sum is Two Million Two Hundred Fifty Thousand Dollars ($2,250,000) (the “Gross Settlement Sum”). The portion of the Gross Settlement Sum that is available for payment to Class Members who do not timely and validly request exclusion from the settlement (“Participating Class Members”) is referred to as the “Net Settlement Sum.” The Net Settlement Sum will be the Gross Settlement Sum less the following payments which are subject to approval by the Court: (1) attorneys’ fees in an amount up to $787,500 and reimbursement of litigation costs and expenses in an amount of up to Fifty Thousand Dollars ($50,000) to Class Counsel; (2) service awards in an amount not to exceed Seven Thousand Dollars ($7,000) each to Plaintiffs DiStefano, Busch, and Brims (totaling $21,000) for their services (“Service Payment”); (3) Settlement Administration Costs in an amount not to exceed Twenty-Five Thousand Dollars ($25,000) to the Settlement Administrator; and (4) payment to the Labor and Workforce Development Agency of its 75% share of the amount allocated to PAGA Penalties ($30,000) under the settlement (i.e., a payment in the amount of $30,000). Participating Class Members will be entitled to receive payment under the settlement of their share of the Net Settlement Sum (“Individual Settlement Amount”) based on number of numbers of workweeks worked by the Class Members as hourly-paid or non-exempt employees for Defendants iPayment, Inc. and/or Leaders Merchant Services, LLC from October 18, 2013 to the [Preliminary Approval Date] and/or for Defendant Paysafe Partners L.P. from June 6, 2015 to the [Preliminary Approval Date], in the State of California (“Workweeks”). Workweeks were calculated based on the start and end dates of each Class Member’s employment during the Class Period and dividing by seven. Individual Settlement Amounts will be calculated using the following formula: each Participating Class Member’s individual Workweeks will be divided by the total aggregate Workweeks of all Participating Class Members to derive his or her Payment Ratio Fraction. Each Participating Class Member’s Payment Ratio Fraction will be multiplied by the Net Settlement Sum to determine the Individual Settlement Amount. Each Individual Settlement Amount will be allocated as one-third (33.33%) wages (which will be reported on an IRS Form W2), and two-thirds (66.67%) penalties and interest (which will be reported on an IRS Form 1099, if applicable). Each Individual S...
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Settlement Formula. The Total Settlement Amount is Two Million Nine Hundred Thousand Dollars ($2,900,000.00) (the “Total Settlement Amount”). The portion of the Total Settlement Amount that is available for payment to Class Members who do not opt out of this Settlement (“Settlement Class Members”) is referred to as the “Net Settlement Amount.” The Net Settlement Amount will be the Total Settlement Amount less the following payments which are subject to approval by the Court: (1) attorneys’ fees in an amount of up to thirty-five percent (35%) of the Total Settlement Amount (i.e., up to $1,015,000.00) and reimbursement of litigation costs and expenses in an amount of up to Forty Thousand Dollars ($40,000.00) to Class Counsel (collectively, “Class Counsel Award”); (2) enhancement payment in an amount not to exceed Twelve Thousand Five Hundred Dollars ($12,500) to Plaintiff ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ for his services (“Enhancement Payment”); (3) settlement administration costs in an amount not to exceed Twelve Thousand Dollars ($12,000.00) to the Settlement Administrator (“Settlement Administration Costs”); and (4) the allocation of Five Hundred Thousand Dollars ($500,000.00) to settle all claims under PAGA (“PAGA Payment”), of which 75%, or $375,000.00, will be paid to the Labor and Workforce Development Agency (“LWDA”) and the remaining 25%, or $125,000.00, (“PAGA Employee Amount”) will be distributed pro rata to PAGA Employees. Class Members are eligible to receive a pro rata share of the Net Settlement Amount (“Individual Settlement Share”) based on the number of workweeks during which they worked for Defendant as an hourly-paid or non-exempt employee in California during the Class Period (“Workweeks”). Specifically, the Settlement Administrator shall determine the number of calendar weeks that the Class Member worked during the Class Period, using their start and end dates worked as an hourly-paid or non-exempt employees of Defendant in California during the Class Period. Each PAGA Employee’s pro rata share of the PAGA Employee Amount (“Individual PAGA Payment”) will be based on the number of Workweeks during which they worked for Defendant during the PAGA Period (“PAGA Workweeks”). Each Individual Settlement Share will be allocated as twenty percent (20%) to wages (which will be reported on an IRS Form W2), and eighty percent (80%) to interest, penalties, and other non-wage damages (which will be reported on an IRS Form 1099, if applicable). Each Individual Settlement Share will be su...
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Settlement Formula. Class Counsel shall calculate the Settlement Shares according to the following process (the “Settlement Formula”): (A) Only Qualified Class Members will be entitled to receive payment for a Settlement Share under this Agreement. Opt-Outs will not receive a Settlement Share and will not be bound by the Settlement.
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Settlement Formula. (a) Each Qualified Class Member’s Settlement Share shall be determined according to the formula set forth in Exhibit H as calculated by Class Counsel (in agreeing to this formula, which implements the Parties’ compromise as to the resolution of claims, Bloomberg does not admit that any Class Member’s liability or damages claim has merit). (b) Any under-allocations to Qualified Class Members will be corrected to the extent possible on a pro rata basis using the Errors and Omissions Fund. The Errors and Omissions Fund will be funded by any Settlement Checks that remain uncashed at the end of the Payout Period, prior to distribution to the Cy Pres Recipients.
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Settlement Formula. The number of registered users at the current month that exceeds 1,000 A Charge standard at the current year for each user B Party A’s proportion in the profit allocation C Total settlement=A*B*C
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Settlement Formula 
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Related to Settlement Formula

  • Payment for TIPS Sales TIPS Members may make payments for TIPS Sales directly to Vendor, Vendor’s Authorized Reseller, or as otherwise agreed to in the applicable Supplemental Agreement after receipt of the invoice and in compliance with applicable payment statutes. Regardless of how payment is issued or received for a TIPS Sale, Vendor is responsible for all reporting and TIPS Administration Fee payment requirements as stated herein.

  • Payment Frequency As of the Cutoff Date and as shown on the books of CNHICA: (A) Receivables having an aggregate Statistical Contract Value of approximately 63.01% of the Aggregate Statistical Contract Value had annual scheduled payments, (B) Receivables having an aggregate Statistical Contract Value of approximately 2.39% of the Aggregate Statistical Contract Value had semi-annual scheduled payments, (C) Receivables having an aggregate Statistical Contract Value of approximately 0.86% of the Aggregate Statistical Contract Value had quarterly scheduled payments, (D) Receivables having an aggregate Statistical Contract Value of approximately 28.53% of the Aggregate Statistical Contract Value had monthly scheduled payments, and (E) the remainder of the Receivables had irregularly scheduled payments.

  • Adjustment for Stock Split All references to the number of Shares and the purchase price of the Shares in this Agreement shall be appropriately adjusted to reflect any stock split, stock dividend or other change in the Shares which may be made by the Company after the date of this Agreement.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • Settlement Price For any Valuation Date, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page ATSG <equity> AQR (or any successor thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time on such Valuation Date (or if such volume-weighted average price is unavailable, the market value of one Share on such Valuation Date, as determined by the Calculation Agent). Notwithstanding the foregoing, if (i) any Expiration Date is a Disrupted Day and (ii) the Calculation Agent determines that such Expiration Date shall be an Expiration Date for fewer than the Daily Number of Warrants, as described above, then the Settlement Price for the relevant Valuation Date shall be the volume-weighted average price per Share on such Valuation Date on the Exchange, as determined by the Calculation Agent based on such sources as it deems appropriate using a volume-weighted methodology, for the portion of such Valuation Date for which the Calculation Agent determines there is no Market Disruption Event.