Common use of To Each Participating Class Member Clause in Contracts

To Each Participating Class Member. An Individual Class Payment calculated by (a) dividing the Net Settlement Amount by the total number of Workweeks worked by all Participating Class Members during the Covered Period and (b) multiplying the result by each Participating Class Member’s Workweeks. 3.2.4.1. Tax Allocation of Individual Class Payments. 20% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The 80% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for [e.g., interest and penalties] (the “Non-Wage Portion”).vi The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment. 3.2.4.2. Effect of Non-Participating Class Members on Calculation of Individual Class Payments. Non-Participating Class Members will not receive any Individual Class Payments. The Administrator will retain amounts equal to their Individual Class Payments in the Net Settlement Amount for distribution to Participating Class Members on a pro rata basis.

Appears in 1 contract

Sources: Class Action and Paga Settlement Agreement

To Each Participating Class Member. An Individual Class Payment calculated by (a) dividing the Net Settlement Amount by the total number of Workweeks worked by all Participating Class Members during the Covered Class Period and (b) multiplying the result by each Participating Class Member’s Member s Workweeks. 3.2.4.1. 3.2.3.1 Tax Allocation of Individual Class PaymentsPayments . 20% of each Participating Class Member’s Member s Individual Class Payment will be allocated to settlement of wage claims (the Wage Portion”Portion ). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The 8040% of each Participating Class Member’s Member s Individual Class Payment will be allocated to settlement of claims for [e.g.penalties. The Remaining 40% of each Participating Class Member s Individual Class Payment will be allocated to interest (along with the portion allocated for penalties, interest and penalties] (the “NonNo-Wage Portion”).vi nWage Portions ). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment. 3.2.4.2. 3.2.3.2 Effect of Non-Participating Class Members on Calculation of Individual Class Payments. Non-Participating Class Members will not receive any Individual Class Payments. The Administrator will retain amounts equal to their Individual Class Payments in the Net Settlement Amount for distribution to Participating Class Members on a pro rata basis.

Appears in 1 contract

Sources: Class Action and Paga Settlement Agreement

To Each Participating Class Member. An Individual Class Payment calculated by (a) dividing the Net Settlement Amount by the total number of Workweeks worked by all Participating Class Members during the Covered Class Period and (b) multiplying the result by each Participating Class Member’s Workweeks. 3.2.4.1. 3.2.4.1 Tax Allocation of Individual Class Payments. 2015% of each Participating Class Member’s Individual Class Payment will be allocated to the settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The 8085% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for [e.g., interest and penalties] non-wage damages (the “Non-Non- Wage Portion”).vi Portion”). The Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment. 3.2.4.2. 3.2.4.2 Effect of Non-Participating Class Members on Calculation of Individual Class Payments. Non-Participating Class Members will not receive any Individual Class Payments. The 50387596.8/017358.00010 7 Administrator will retain allocate amounts equal to their Individual Class Payments in the Net Settlement Amount for distribution to Participating Class Members on a pro rata basis.

Appears in 1 contract

Sources: Class Action and Paga Settlement Agreement