Under the terms of the Settlement Agreement, Rosebud has agreed to pay Two Million Six Hundred Thousand Dollars ($2,600,000.00) (the “Gross Settlement Amount”). This amount is “non-reversionary,” meaning no portion of the funds will be returned to Rosebud.
The Gross Settlement Amount includes amounts to cover (i) a $20,000 Reserve Fund for late claims or disputes; (ii) a Service Award to the Plaintiff in the amount of up to $10,000 in exchange for his service to the class and in addition for his broader release of claims; (iii) the Fee and Cost Payment to Class Counsel, not to exceed $866,667 (i.e., one-third of the Gross Settlement Amount) plus costs not to exceed $25,000; (iv) Settlement Administration costs in the amount not to exceed $12,000; and (v) Settlement Awards. After deductions of amounts for payments in (i) – (iv) above, what remains of the Gross Settlement Amount shall be divided into monetary Settlement Awards to the Settlement Class and Collective Members.
Under the terms of the proposed settlement, you do not need to do anything to receive a settlement award under the terms of the settlement, and a check will automatically be sent to you if the Court grants final approval to the settlement unless you choose to exclude yourself from the settlement.