What are the general terms of the Settlement Agreement?
The Settlement Agreement contains three primary areas of relief. First, the parties agreed that within 30 days of the EEOC Administrative Judge’s final approval of the Settlement Agreement (July 10, 2002), GSFC would transfer the sum of $3.7M to a qualified settlement fund that would be administered by Class Counsel. This requirement was met on August 7, 2002. Out of the $3.7M, $2,286,459 would be allocated to Class members in derived back pay, prejudgment interest and compensatory damages. As part of the settlement, GSFC agreed that the Class Mediation Representatives would determine the individual allocation of these monies to Class Members and Class Counsel via a formula derived by them (See Exhibit 5 of the Settlement Agreement). A separate amount of $928,819 will be paid in attorney’s fees to Class Counsel for fees incurred from 1993 through final approval. Additionally, $500K in class service awards will be allocated amongst the Class Agent and Mediation Representatives. Second,
