Common use of To Participating Class Members Clause in Contracts

To Participating Class Members. All Class Members other than those who timely and properly elect not to participate in the Settlement by submitting an Election Not to Participate in Settlement will be Participating Class Members and bound by the Settlement, including its release of claims, and entitled to receive Settlement Shares. Each Participating Class Member’s Settlement Share shall be calculated as follows: a. The Settlement Administrator will take the number of Work Hours recorded by the Participating Class Member. b. For every day on which the Participating Class Member worked at least eight (8) hours, the Settlement Administrator will increase the Participating Class Member’s Work Hours by a quarter (0.25) hour. c. The Settlement Administrator then will adjust the Participating Class Member’s Work Hours (up or down) by a factor that is equal to the ratio of the Participating Class Member’s most recent hourly base rate of pay as a TSR during the Class Period (including applicable shift differential) (“hourly base rate of pay”) compared to the average most recent hourly base rate of pay of all Participating Class Members during the Class Period. d. The Settlement Administrator then will divide the Participating Class Member’s Work Hours (adjusted as above where applicable) by the total Work Hours for all Participating Class Members (also adjusted as above where applicable). e. The ratio yielded by the division done in section III.C.1.d. above will be multiplied by the Net Settlement Amount to yield the Participating Class Member’s Settlement Share.

Appears in 1 contract

Sources: Settlement Agreement

To Participating Class Members. All Class Members other than those who timely and properly elect not to participate in the Settlement by submitting an Election Not to Participate in Settlement will be Participating Class Members and bound by the Settlement, including its release of claims, and entitled to receive Settlement Shares. Each Participating Class Member’s Settlement Share shall be calculated as follows: a. The Settlement Administrator will take the number of Work Hours recorded by the Participating Class Member. b. For every day on week in which the Participating Class Member worked at least eight forty (8) 40) hours, the Settlement Administrator will increase multiply the Participating Class Member’s Work Hours by a quarter (0.25) hourfactor of 1.5. c. The Settlement Administrator then will adjust the Participating Class Member’s Work Hours (up or down) by a factor that is equal to the ratio of the Participating Class Member’s most recent hourly base rate of pay as a TSR THN during the Class Period (including applicable shift differential) (“hourly base rate of pay”) compared to the average most recent hourly base rate of pay of all Participating Class Members during the Class Period. d. The Settlement Administrator then will divide the Participating Class Member’s Work Hours (adjusted as above where applicable) by the total Work Hours for all Participating Class Members (also adjusted as above where applicable). e. The ratio yielded by the division done in section III.C.1.d. above will be multiplied by the Net Settlement Amount to yield the Participating Class Member’s Settlement Share.

Appears in 1 contract

Sources: Settlement Agreement