- 1 - IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF KENTUCKY NORTHERN DIVISION (COVINGTON) L. CRAIG KENDRICK, et al. Plaintiffs, v. OHIO CASUALTY INSURANCE COMPANY, et al. Defendants. Case No.: 2:10-cv-00218-DLB-CJS Judge David L. Bunning SETTLEMENT AGREEMENT STIPULATION OF SETTLEMENT This Stipulation of Settlement is entered into in the above-captioned, consolidated, putative class action lawsuits (“Actions”) this 29th day of June, 2011, by and between Plaintiffs L. Craig Kendrick, John Nicholas, Delbert Kenneth Perry and Mary Beth Perry (collectively referred to herein as “the Perrys”), and Kelly Middendorf and Stephen Middendorf (collectively referred to herein as “the Middendorfs”), all of the foregoing are collectively referred to herein as “Plaintiffs,” individually and on behalf of all members of the putative Settlement Class defined below, and Defendants Ohio Casualty Insurance Company (“OCIC”), West American Insurance Company (“WAIC”), Indiana Insurance Company (“IIC”), and Liberty Mutual Fire Insurance Company (“LMFIC”), (collectively, referred to herein as “Defendants”), by and through the Parties’ respective attorneys of record. Subject to the approval of the Court, the Parties agree to a settlement of all claims in the Actions brought by the Plaintiffs against Defendants. 1 1 All capitalized terms shall have the meanings set forth in the “Definitions” section below.
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IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF KENTUCKY
NORTHERN DIVISION (COVINGTON)
L. CRAIG KENDRICK, et al.
Plaintiffs,v.
OHIO CASUALTY INSURANCE COMPANY, et al.
Defendants.
Case No.: 2:10-cv-00218-DLB-CJS
Judge David L. Bunning
SETTLEMENT AGREEMENT
STIPULATION OF SETTLEMENT
This Stipulation of Settlement is entered into in the above-captioned, consolidated, putative
class action lawsuits (“Actions”) this 29th day of June, 2011, by and between Plaintiffs L. Craig
Kendrick, John Nicholas, Delbert Kenneth Perry and Mary Beth Perry (collectively referred to
herein as “the Perrys”), and Kelly Middendorf and Stephen Middendorf (collectively referred to
herein as “the Middendorfs”), all of the foregoing are collectively referred to herein as “Plaintiffs,”
individually and on behalf of all members of the putative Settlement Class defined below, and
Defendants Ohio Casualty Insurance Company (“OCIC”), West American Insurance Company
(“WAIC”), Indiana Insurance Company (“IIC”), and Liberty Mutual Fire Insurance Company
(“LMFIC”), (collectively, referred to herein as “Defendants”), by and through the Parties’ respective
attorneys of record. Subject to the approval of the Court, the Parties agree to a settlement of all
claims in the Actions brought by the Plaintiffs against Defendants.1
1 All capitalized terms shall have the meanings set forth in the “Definitions” section below.
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RECITALS
Kendrick v. Ohio Casualty Ins. Co., 2:10-cv-00218-DLB-CJS; Nicholas v. West American Ins. Co., 2:10-cv-00219-DLB-CJS; and Perry, et al. v. Indiana Ins. Co., 2:10-cv-00222-DLB-CJS
A. On June 9, 2006, Messrs. Kendrick and Nicholas, and other named plaintiffs, for
themselves and seeking to represent a class of others, commenced an action in Kentucky state court
against OCIC, WAIC, and other insurance companies. The complaint alleges that OCIC, WAIC, and
other insurance companies charge some of their customers Local Government Premium Taxes in
excess of the amount owed and that, in connection with their collection of these taxes, charge an
additional Collection Fee. Specifically, the complaint alleges common law causes of action for fraud,
conversion, negligence, breach of fiduciary duty, conspiracy, and violations of KRS § 304.12-190,
which prohibits illegal dealing in premiums. The complaint seeks a refund of the Local Government
Premium Taxes that allegedly have been overpaid, a refund of all Collection Fees that allegedly have
been paid, punitive damages, injunctive and declaratory relief. The complaint also requests that the
action be certified as a class action, on behalf of a plaintiff class of insureds.
B. The Perrys filed a nearly identical complaint in Kentucky state court on June 13,
2006, alleging a class action against IIC and other insurer defendants.
C. On May 3, 2007, the Court consolidated, for purposes of pre-certification discovery,
Messrs. Kendrick’s and Nicholas’ action with the Perrys’ action.
D. Following pre-certification discovery and plaintiffs’ motion for class certification, on
October 1, 2010, the Court entered an order granting the motion to certify a class under Rule
23(b)(3). In the same order, the Court severed the underlying cases into multiple, separate cases,
each involving a single insurer defendant and that defendant’s insureds only.
E. On January 5, 2011, the Sixth Circuit Court of Appeals granted OCIC’s, WAIC’s,
and IIC’s petition for interlocutory appeal, and the Sixth Circuit consolidated the actions involving
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OCIC, WAIC, and IIC for purposes of briefing and oral argument. The Parties have concluded
briefing in the Sixth Circuit Court of Appeals and have been granted a stay in those proceedings
pending the Court’s consideration of the Parties’ Agreement for preliminary approval.
Middendorf, et al. v. Liberty Mutual Fire Ins. Co., 2:08-cv-00041-DLB-JGW
F. On March 11, 2008, the Middendorfs, for themselves and seeking to represent a class
of others, commenced an action against LMFIC. The complaint alleges that LMFIC charges some of
its customers Local Government Premium Taxes in excess of the amount owed and that, in
connection with their collection of these taxes, charge an additional Collection Fee. Specifically, the
complaint alleges common law causes of action for fraud, conversion, negligence, breach of
fiduciary duty, conspiracy, and violations of KRS § 304.12.010, which prohibits unfair competition
or any unfair or deceptive act or practice in the business of insurance, KRS § 304.12-190, which
prohibits illegal dealing in premiums, and the Kentucky Consumer Protection Act. The complaint
seeks a refund of the Local Government Premium Taxes that allegedly have been overpaid, a refund
of all Collection Fees that allegedly have been paid, punitive damages, injunctive and declaratory
relief. The complaint also requests that the action be certified as a class action, on behalf of a
plaintiff class of insureds and a defendant class of insurance companies.
G. On June 3, 2009, the Court stayed the Middendorfs’ action pending the ruling on
class certification in the above actions involving OCIC, WAIC, and IIC as the class certification
order in those cases would substantially influence the issues likely to affect certification in the action
against LMFIC. Currently, the action remains stayed, pending the Sixth Circuit Court of Appeals
ruling on the Court’s class certification order in the above actions involving OCIC, WAIC, and IIC.
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Settlement Negotiations
H. Plaintiffs’ Counsel have engaged in good faith, arm’s-length negotiations with
Counsel for Defendants with a view toward achieving substantial benefits for all members of the
putative Settlement Class, and avoiding the cost, delay, and uncertainty of further litigation, trial, and
appellate review. These negotiations have included numerous telephone conferences among the
Parties’ respective counsel, the exchange of a number of settlement communications, and in person
meetings.
I. As a result of these negotiations, as well as independent investigation, research, and
analysis, Plaintiffs, with the advice of counsel, have decided to enter into this Stipulation of
Settlement, believing the terms to be fair, reasonable, adequate, and in the best interests of Plaintiffs
and the Settlement Class Members. Plaintiffs and Plaintiffs’ Counsel have decided to execute this
Stipulation of Settlement and to urge the Court to approve its terms after considering (1) the factual
and legal defenses available to Defendants to class certification and the claims asserted in the
Actions, which render the outcome of the Actions uncertain; (2) the uncertainty of receiving a more
favorable award at trial, particularly considering the burden of proving that Defendants committed
any of the wrongful actions alleged in the complaints; (3) the likely appeals and additional
proceedings necessary if the Settlement Class were to prevail at trial; (4) the substantial benefits that
the Settlement Class Members will receive pursuant to this Stipulation of Settlement; (5) the fact that
the Stipulation of Settlement provides for Settlement Class Members to receive relief in the most
expeditious and efficient manner practicable, and thus much sooner than would be possible were the
claims in the Actions to be litigated successfully through trial and appeal; (6) the provisions of this
Stipulation of Settlement that require Defendants to identify members of the Settlement Class and
provide benefits to such persons; and (7) the fact that the Stipulation of Settlement allows putative
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Class Members to exclude themselves from the Settlement Class should they so desire and thereby
not be precluded from individually pursuing the claims alleged in the Actions or any other claims
relating to the conduct of Defendants at issue in the Actions.
J. Defendants have denied vigorously, and continue to deny vigorously, each and every
allegation of liability and wrongdoing in the Actions. Without admitting any wrongdoing or liability
whatsoever, Defendants are nevertheless willing to agree to the terms of this Stipulation of
Settlement provided that all of the Settled Claims are settled and compromised, in order to resolve
fully and finally all issues relating to the subject matter of these Actions. Defendants believe this
Stipulation of Settlement is desirable because it allows them to avoid the time and expense of
defending the Actions; to avoid further business distractions and diversion of corporate resources
necessitated by defense of the Actions; to avoid the risks associated with complex litigation; and to
end all disputes and potential disputes related to the Actions with their valued customers.
NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and between the
Parties hereto, subject to the approval of the Court as provided below pursuant to Rule 23(e) of the
Federal Rules of Civil Procedure, that all claims in these Actions will be settled, compromised, and
resolved on the terms set forth below:
DEFINITIONS
A. The “Actions” means the above-styled, consolidated, putative class action lawsuits,
case numbers 2:10-cv-00218-DLB-CJS, 2:10-cv-00219-DLB-CJS, 2:10-cv-00222-DLB-CJS, 2:08-
cv-00041-DLB-JGW, which have been consolidated into case number 2:10-cv-00218-DLB-CJS.
B. “Agreement” or “Settlement Agreement” each means this Stipulation of Settlement.
C. “Class Action Settlement Notice” means the individual notice of settlement described
in Paragraph V.C., below.
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D. “Class Representative” or “Class Representatives” means L. Craig Kendrick, John
Nicholas, Delbert Kenneth Perry, Mary Beth Perry, Kelly Middendorf, Stephen Middendorf, or all of
them, individually or collectively, and as representatives of all Settlement Class Members, as context
may dictate.
E. “Collection Fee” means any and all fees charged, collected, and retained by an
insurance company pursuant to KRS § 91A.080(4) and 806 KAR 2:090, without regard to the
legality of the manner in which the Collection Fee was collected and retained.
F. “Collection Fee Refund” means the amount of Collection Fees that is believed to have
been paid by a Settlement Class Member and for which there will be reimbursement. If a Local
Government Premium Tax was paid but not owed, the Collection Fee Refund will be the entire
amount of Collection Fee paid by the insured. If a Local Government Premium Tax was owed but
overpaid, the Collection Fee Refund will be commensurate to the amount overpaid. By way of
example only, if, during the Relevant Time Period, a Settlement Class Member paid $10.00 in Local
Government Premium Tax and a 15% Collection Fee of $1.50 when the actual amount of Local
Government Premium Tax owed by the Settlement Class Member, as determined by the agreed
settlement methodology, was only $5.00, the Collection Fee Refund will be $.75 (the difference
between 15% of $10.00 and 15% of $5.00).
G. “Court” means the United States District Court for the Eastern District of Kentucky,
Northern Division.
H. “Effective Date” has the meaning set forth in Paragraph VI.D., below.
I. “Fairness Hearing” means the hearing described in Paragraph VI., below.
J. “Final Approval” has the meaning set forth in Paragraph VI.C., below.
K. “Defendants” shall mean Ohio Casualty Insurance Company, West American
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Insurance Company, Indiana Insurance Company, Liberty Mutual Fire Insurance Company, or all of
the foregoing defendant insurance companies, individually or collectively as context may dictate.
L. “Defendants’ Counsel” means, collectively, Rodger L. Eckelberry and Trischa Snyder
Chapman of BAKER & HOSTETLER, LLP, 65 East State Street, Suite 2100, Columbus, Ohio,
43215, and Donald L. Miller, II of Quintairos, Prieto, Wood & Boyer, P.A., 9300 Shelbyville Road,
Suite 400, Louisville, Kentucky, 40222.
M. “Incentive Award” means any award for the Class Representatives, individually or
collectively, as described in Paragraph II.C., below.
N. “Local Government Premium Tax” means the taxes levied by Kentucky local
governments pursuant to KRS § 91A.080, and calculated and collected by Defendants.
O. “Local Government Premium Tax Refund” means the amount of Local Government
Premium Taxes that are believed to have been paid by a Settlement Class Member in excess of the
applicable tax rates during the Relevant Time Period.
P. “Objections” means the written objections to this Stipulation of Settlement described
in Paragraph V.E., below.
Q. “Parties” means the Representative Plaintiffs, L. Craig Kendrick, John Nicholas, the
Perrys, and the Middendorfs, the Settlement Class Members, and Defendants, OCIC, WAIC, IIC,
and LMFIC.
R. “Plaintiff” or “Plaintiffs” means L. Craig Kendrick, John Nicholas, Delbert Kenneth
Perry, Mary Beth Perry, Kelly Middendorf, or Stephen Middendorf, or all of them, individually or
collectively, and as representatives of all Settlement Class Members, as context may dictate.
S. “Plaintiffs’ Counsel” or “Class Counsel” means, collectively, Alexander F.
Edmondson and Jason V. Reed of the law firm Edmondson & Associates, 28 West Fifth Street,
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Covington, Kentucky, 41011, Christopher S. Nordloh of Nordloh Law Office, PLLC, 28 West Fifth
Street, Second Floor, Covington, Kentucky, 41011, Gary E. Mason of Mason LLP, 1625
Massachusetts Avenue NW, Suite 605, Washington, DC, 20036, and John C. Whitfield of the law
firm Whitfield & Cox PSC, 29 East Center Street, Madisonville, Kentucky, 42431.
T. “Relevant Time Period” as it pertains to case numbers 2:10-cv-00218-DLB-CJS,
2:10-cv-00219-DLB-CJS, 2:10-cv-00222-DLB-CJS means the period of June 9, 2001 through
December 31, 2010. “Relevant Time Period” as it pertains to case number 2:08-cv-00041-DLB-JGW
means the period of March 11, 2003 through December 31, 2010.
U. “Request for Exclusion” means the written Request for Exclusion from the Settlement
Class described in Paragraph V.D., below.
V. “Settlement Administrator” means an entity selected and paid for by Defendants to
administer the Settlement Fund and provide services in connection with this Stipulation of Settlement,
as provided in Paragraph V.A., below.
W. “Settlement Class” and “Settlement Class Members” shall mean each of the members
of the Settlement Class, collectively as identified in Paragraph I.A., below.
X. “Settlement Fund” means the total monetary fund available to fund the Stipulation of
Settlement. As set forth in Paragraph II.A.2, below, the total amount of the Settlement Fund consists
of the total amount of the Local Government Premium Tax Refunds and Collection Fee Refunds
claimed by eligible Class Members who timely submit a Claim Form.
Y. “Stipulation” or “Settlement” each means the Stipulation of Settlement.
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TERMS OF SETTLEMENT
I. CLASS CERTIFICATION
A. Settlement Class. Plaintiffs will seek in these Actions certification, for purposes of
settlement only, a Settlement Class defined as follows:
All persons, including individuals and corporations, in the State of Kentucky, who purchased insurance from Ohio Casualty Insurance Company, West American Insurance Company, and Indiana Insurance Company, between June 9, 2001 and December 31, 2010, and from Liberty Mutual Fire Insurance Company between March 11, 2003, through December 31, 2010 who paid local government taxes on their payments of premiums which were either not owed, or at rates higher than permitted, as determined by comparing the tax location assigned by Defendants for purposes of computing the Local Government Premium Taxes and Collection Fees, based on information available in Defendants’ records, to the tax location resulting from the geocoding processes (of an approved vendor).
B. Motion to Certify the Settlement Class for Settlement Purposes Only. As explained in
more detail in Paragraph IV., below, concurrent with the filing of a motion for preliminary approval
of this Stipulation of Settlement with the Court, Plaintiffs will file a motion to certify the Settlement
Class, as described and defined above, for settlement purposes only. Plaintiffs and Plaintiffs’
Counsel will provide Defendants with a draft of the motion prior to filing, and Defendants will not
oppose the motion so long as it is reasonable and consistent with the provisions of this Stipulation of
Settlement.
C. Limitation on Effect of Certification. The certification of a Settlement Class pursuant
to the provisions of this Stipulation of Settlement will not constitute in this or any other proceeding
an admission by Defendants of any kind, nor will it constitute a determination that certification of a
Settlement Class for trial purposes is appropriate or proper in this or any other action. In the event
that the terms of this Stipulation of Settlement are not finally approved by the Court, or the
Stipulation of Settlement is otherwise terminated or rendered null and void, certification of a
Settlement Class for settlement purposes only will be automatically vacated and will not constitute
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evidence or a binding determination that the requirements for certification of a Class for trial
purposes in this or any other action are satisfied, and under such circumstances, Defendants
expressly reserve all rights to challenge certification of a Class for trial purposes in this or any other
action on all available grounds as if no Settlement Class had been certified, and no reference to the
prior certification of a Settlement Class, or any documents related thereto, will be made for any
purpose.
II. BENEFITS TO SETTLEMENT CLASS MEMBERS, PLAINTIFFS’ COUNSEL, THE CLASS REPRESENTATIVES, AND LOCAL TAXING JURISDICTIONS.
A. Benefits to Settlement Class Members.
1. Identification of Settlement Class Members. Per the terms of this
Agreement, Defendants will cause to be conducted an analysis of the insurance policy
records of Defendants to identify members of the Settlement Class. Where necessary and
appropriate, Defendants will identify policyholders during the Relevant Time Period who
paid Local Government Premium Taxes and Collection Fees which were either not owed or
were charged at rates higher than permitted based upon best estimates derived from
information actually contained in its policy records.
a. Verification of policyholders’ risk locations and addresses is
explained in Paragraphs II.B.2., V.B. and V.C., below.
b. The Parties agree that, for purposes of identifying putative Settlement
Class Members and calculating the refund due any Settlement Class Member, the use
of a Geocoding Software Provider approved by the Kentucky Department of Insurance
is an acceptable method of calculating the Local Government Premium Taxes
applicable to Defendants’ insurance policies., subject to confirmation by submission
of a claim form
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2. Calculation of the Settlement Fund.
a. Claim Forms. All Settlement Class Members will be mailed a Class
Action Notice with Claim Form which they can submit to verify entitlement to
Settlement benefits during the Relevant Time Period. The Claim Form shall be
prepared by Class Counsel and Counsel for the Defendants, working together with
the Settlement Administrator. The Claim Form will solicit basic information from the
Class Member as may be necessary to prevent fraud and ensure efficient claim
processing. The Claim Form will require the Class Member to attest to the accuracy
of the information provided. The Claim Form will be mailed directly to those
putative Class Members for whom Defendants or the Settlement Administrator can
verify a current mailing address. It will be also be available, on request, to (1) those
putative Class Members who contact the Settlement Administrator requesting Notice
and Claim Form; and (2) those putative Class Members who visit the website to
request Notice and Claim Form. The information submitted on these forms will be
verified by the Settlement Administrator to determine if these individuals should be
included in the Settlement Class. Class Members must return the Claim Form post
marked within forty-five (45) days of mailing to be eligible to receive a refund from
the Settlement Fund.
b. Settlement Fund. The sum total amount of the Local Government
Premium Tax Refunds and Collection Fee Refunds claimed by eligible Class
Members who timely submit a Claim Form shall constitute the Settlement Fund.
Except as set forth in Paragraph VII.C., below, Defendants may, but are not required
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to, deposit in escrow or establish a separate account for the amount that constitutes
the Settlement Fund.
3. Disbursement of the Settlement Fund. The Settlement Fund shall be
disbursed as follows:
a. First, to pay Plaintiffs’ attorneys’ fees, costs and expenses, and any
Incentive Award awarded to the Class Representatives, in such amounts as are
allowed and approved by the Court;
b. Second, after the deduction of the foregoing, to refund to the
Settlement Class Members their Local Government Premium Tax Refunds
and their Collection Fee Refunds, less a pro rata reduction; and
c. Third, to the extent any Settlement Funds remain after the distribution to
Settlement Class Members, there shall be an automatic reverter to Defendants
sixty (60) days after the date payment drafts sent to eligible Settlement Class
Members become void, as set forth in Paragraph VII.D.2., below.
4. Refunds to Settlement Class Members. All eligible Settlement Class
Members who timely submit a valid Claim Form, and who do not elect to opt out, shall be
entitled to receive a Settlement award from the Settlement Fund equal to the amount of
premium tax overpaid during the Relevant Time Period, plus any corresponding Collection
Fee or portion thereof, less the pro rata reduction described in Paragraph II.A.3., above.
Any portion of the Settlement Fund that is not distributed for the purposes set forth in
Paragraph II.A.3., above, will remain the property of Defendants.
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B. Attorneys’ Fees and Costs.
1. At or before the time of the Fairness Hearing, Plaintiffs’ Counsel may submit
an application for distribution from the Settlement Fund for an award of attorneys’ fees and
reimbursement of expenses, provided that the application for attorneys’ fees and expenses
does not exceed one-third of the Settlement Fund. If one-third of the Settlement Fund equals
less than one million dollars ($1,000,000.00), Plaintiffs’ Counsel may submit an application
to the Court for a supplemental award of attorneys’ fees and reimbursement of expenses,
such supplemental award to be paid by Defendants separately from the Settlement Fund,
provided the sum of one-third of the Settlement Fund and the supplemental award does not
exceed one million dollars ($1,000,000.00). Defendants agree not to object to any
application(s) which fall(s) within the parameters set forth herein.
2. Any award of attorneys’ fees, costs and expenses in the Actions, with the
exception of the possible supplemental award of attorneys’ fees provided in Paragraph
II.B.1., above, will be deducted from the amount of the Settlement Fund in the manner set
forth in Paragraph II.A.3., above, and will result in a reduction of the amount of refunds paid
to the Settlement Class Members.
3. The Parties’ Agreement to enter into this Stipulation of Settlement is not
contingent upon the Court’s approval of any application for fees, costs, and expenses filed by
Plaintiffs’ Counsel. The Parties agree that the award of attorneys’ fees, costs, and expenses
to Plaintiffs’ Counsel is severable from the other terms of this Stipulation of Settlement and
that any decision by the Court with regard to such application will not have any effect on the
other terms of this Stipulation of Settlement.
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4. Except as provided in this Stipulation of Settlement, Defendants will not be
required to pay any other expenses, costs, damages, or fees incurred by the Class
Representatives, by any member of the Settlement Class, or by any of their attorneys,
experts, advisors, investigators, agents, or representatives. Any award of attorneys’ fees,
costs, and expenses by the Court will be in complete satisfaction of any and all claims for
attorneys’ fees, costs, and expenses that the Class Representatives, members of the
Settlement Class, Plaintiffs’ Counsel, or any other counsel has or may have against
Defendants arising out of or in connection with the Actions and the settlement of the claims
against Defendants in the Actions.
5. Defendants will not be responsible for attorneys’ fees, costs, or expenses,
other than those specifically provided for herein to Class Counsel, to those members of the
Settlement Class who submit Objections to the Stipulation of Settlement or who exclude
themselves from the Settlement Class.
C. Incentive Award to Class Representatives. At or before the time of the Fairness
Hearing, Plaintiffs may apply to the Court for an Incentive Award for the Class Representatives in
an amount not to exceed five thousand dollars ($5,000.00), each, (in addition to any payment to
which they may be entitled as a member of the Settlement Class) to compensate them for their
efforts in the Actions on behalf of the Settlement Class. Any Incentive Award will be deducted from
the amount of the Settlement Fund in the manner set forth in Paragraph II.A.3., above, and will result
in a pro rata reduction of the amount of refunds paid to the Settlement Class Members. The Parties’
Agreement to enter into this Stipulation of Settlement is not contingent upon the Court’s approval of
the application for an Incentive Award. The Parties agree that the award of any Incentive Award is
severable from the other terms of this Stipulation of Settlement, and that any decision by the Court
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with regard to such application will not have any effect on the other terms of this Stipulation of
Settlement.
D. Benefits to Local Taxing Jurisdictions. Defendants agree that they will not seek
refunds from any local taxing jurisdictions in Kentucky for any Local Government Premium Tax
refunded to Settlement Class members as a result of this Stipulation of Settlement.
III. DISMISSAL AND RELEASE
In exchange for the consideration set forth in this Stipulation of Settlement, Plaintiffs and all
Settlement Class Members agree to dismiss with prejudice all claims in the Actions brought against
Defendants and to release all claims as set forth herein.
A. Dismissal. Upon Final Approval of this Stipulation of Settlement, the Actions will be
dismissed in their entirety with prejudice as to the Defendants.
B. Release. Upon Final Approval of this Stipulation of Settlement, Plaintiffs, on their
own behalf and as representatives for and on behalf of each and every member of the Settlement
Class, and all persons purporting to act on their behalf or purporting to assert a claim through or
under them (whether individual, class, representative, legal, equitable, direct, indirect, or of any
other type or in any other capacity), including, but not limited to, their spouses, partners, dependents,