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This excerpt taken from the ALL 10-Q filed Nov 1, 2005. Example: If a Class Member worked during a year
in the Class Period and earned a total of $1, and the total gross
compensation paid out to Class Members during that year, after adjustments
for CAT duty, was $100, that Class Member would be entitled to 1% (1/100) of
the Potential Gross Individual Settlement Proceeds allocated to that year.
4. The amount that each Class Member is entitled to receive – the “Individual Settlement Award” – equals the sum of his or her Individual Percentages of each year’s allocation. The proportion of each year’s allocation that represents imputed interest shall be interest income to the Class Member. The portion of each Class Member’s Individual Settlement Award that is not interest shall be divided by the appropriate factor to determine the Class Member’s gross wages (subject to withholding) and the balance shall be the employer-paid payroll taxes with respect to such gross wages.5. The total of Individual Settlement Awards claimed by Settlement Class Members shall be the “Claimed Settlement Amount.” If each and every Class Member submits a timely and properly completed Claim Form, then the Claimed Settlement Amount shall equal the Potential Gross Individual Settlement Proceeds and all Individual Settlement Awards shall be distributed to all Settlement Class Members. If all Class Members do not submit timely and properly completed Claim Forms, Allstate may pay less than the Potential Gross Individual Settlement Proceeds, as follows:The value of the Individual Settlement Award for a Class Member who does not submit a timely Claim Form shall be determined by the Administrator and allocated to the “Unclaimed Amount.” The first $6 million plus one-half of any amount over $6 million in the Unclaimed Amount shall be distributed to Class Members who submitted timely Claim Forms on a pro rata basis where the numerator equals each Settlement Class Member’s Individual Settlement Award and the denominator equals the sum of the Individual Settlement Award for all Settlement Class Members. Each allocation shall be interest, wages (subject to withholding) and employer-paid payroll taxes on such wages in the same proportions as each Settlement Class Member’s Individual Settlement Award. The balance of the Unclaimed Amount (one-half of any amount over $6 million) shall be retained by Allstate.
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