Pursuant to the terms of the Settlement Agreement and Release between Plaintiffs and Defendant (“Settlement Agreement”), Defendant has agreed to create a settlement fund that will be used to make payments to all Class Members who do not properly exclude themselves from the class.
Defendant agreed to provide a gross settlement amount of $8,750,000 to settle this litigation and all potential claims of the Settlement Class, including costs, attorneys’ fees, service awards, and settlement administration costs (the “Gross Fund”). The “Net Fund” is the remainder of the Gross Fund after deductions, payments, or allocations for the Settlement Administrator’s fees and costs, Court-approved attorney’s fees and costs for Plaintiff’s counsel, and any Court-approved service awards.
Each Settlement Class Member who does not opt-out of the settlement in accordance with the Settlement Agreement is entitled to a payment, before applicable taxes, equal to the greater of (i) a pro-rata amount of the Net Fund based on the number of Eligible Work Weeks worked as an hourly employee during the relevant periods set forth above (an Eligible Work Week is defined as any and all weeks during which a Settlement Class Member performed any compensable work for Defendant as an hourly-paid employee and worked forty (40) or more hours); or (ii) $30.00.