UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF NEW YORK -------------------------------------------------------------------X ANTHONY CAIN, individually and on behalf of all others similarly situated, Plaintiff, -against- J.P.T. AUTOMOTIVE, INC., d/b/a FIVE TOWN TOYOTA, Civil Action No.: CV-05-3805 (LDW)(ARL) HON. LEONARD WEXLER Defendant, -against- INNOVATIVE AFTERMARKET SYSTEMS, INC., INNOVATIVE AFTERMARKET SYSTEMS, L.P., and ENTERPRISE FINANCIAL GROUP, INC., Third-Party Defendants. -------------------------------------------------------------------X NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION AND MOTION FOR SETTLEMENT FAIRNESS HEARING If you bought or leased a car from Five Town Toyota in Inwood, New York, a class action lawsuit may affect your rights. A federal court authorized this Notice. This is not a solicitation from a lawyer. The settlement provides for a total recovery of $100,000 for the Settlement Class described herein. The settlement resolves the lawsuit which alleged that when consumers purchased a paintless dent repair policy the price of that contract was not properly disclosed to the consumer. Your legal rights are affected whether you act or do not act. Read this Notice carefully. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT: SUBMIT A CLAIM FORM BY JULY 14, 2008 The only way to get a payment. OBJECT BY AUGUST 1, 2008 Write to the Court about why you do not like the Settlement. GO TO A HEARING ON AUGUST 13, 2008 Ask to speak in Court about the fairness of the Settlement. DO NOTHING Get no payment. Give up rights. These rights and options and the deadlines to exercise them are explained in this Notice. SUMMARY NOTICE Statement of Plaintiff s Recovery The Settlement described herein (the Settlement ) provides a total of $100,000 in cash for the Settlement Class. Class Counsel estimates that there were between 450 and 750 purchasers of paintless dent repair contracts from Five Town Toyota who may have been damaged. Class Counsel estimates that the average recovery per paintless dent repair contract under the settlement is between $117 and $185 for 90-day contracts and between $220 and $345 for 3-year contracts, before deduction of fees and expenses paid to the Claims Administrator. A Settlement Class Member s actual recovery will be a portion of the Net Settlement Fund by his, her, or its Recognized Claim as compared to the total Recognized Claims of all Settlement Class Members who submit acceptable Proofs of Claim (See the Plan of Allocation at page 7 below for details). Statement of Potential Outcome of Case The parties disagreed on both liability and damages and do not agree on the average amount of damages that would be recoverable if Lead Plaintiff were to have prevailed on each claim alleged. Defendant and Third-Party Defendants deny that they are liable to the Lead Plaintiff or the Settlement Class and deny that Lead Plaintiff or the Settlement Class have suffered any damages. Statement of Attorneys Fees and Costs Sought Class Counsel is requesting that the Court approve attorneys fees in the amount of $200,000. Class Counsel has expended considerable time and effort in the prosecution of this litigation on a contingent fee basis, and has advanced the expenses of the litigation, in the expectation that if it were successful in obtaining a recovery for the Settlement Class it would be paid from such recovery. In this type of litigation it is customary for counsel to be awarded its attorneys fees based on the hours expended in litigating the case. Further Information Further information regarding the Action and this Settlement Notice may be obtained by contacting Lead Counsel: Francis Bigelow, Esq., Sadis & Goldberg, LLP, 551 Fifth Avenue, 21 st Floor, New York, New York 10176, Telephone (212) 947-3793. Reasons for the Settlement The principal reason for the Settlement is the significant amount of cash to be provided to the Settlement Class now, and to avoid the risks and uncertainty of continued litigation. [END OF COVER PAGE] Page 1
WHAT THIS SETTLEMENT NOTICE CONTAINS Table of Contents Page SUMMARY NOTICE... 1 Statement of Plaintiff s Recovery... 1 Statement of Potential Outcome of Case... 1 Statement of Attorneys Fees and Costs Sought... 1 Further Information... 1 Reasons for the Settlement... 1 BASIC INFORMATION... 3 1. Why did I get this notice package?... 3 2. What is this lawsuit about?... 3 3. What is a class action and who is involved?... 3 4. What is the background to the settlement?... 3 WHO IS IN THE SETTLEMENT... 4 5. How do I know if I am part of the Settlement?... 4 6. Which customers are included?... 4 7. Are there any customers who obtained a paintless dent repair policy from Five Town Toyota not included in the class?... 4 8. I m still not sure if I am included... 4 THE SETTLEMENT BENEFITS - WHAT YOU GET...4 9. How much will my payment be?...4 10. How can I get a payment?...4 11. When would I get my payment?...5 12. What am I giving up in exchange for the payment?...5 EXCLUSION FROM THE SETTLEMENT CLASS...5 13. Can I exclude myself from the Settlement Class now?...5 THE LAWYERS REPRESENTING YOU... 5 14. Do I have a lawyer in this case?...5 15. Should I get my own lawyer?...5 OBJECTING TO THE SETTLEMENT...5 16. How do I tell the Court that I do not like the proposed Settlement?...5 THE COURT S FAIRNESS HEARING...6 17. When and where will the Court decide whether to approve the proposed Settlement?...6 18. Do I have to come to the hearing?...6 19. May I speak at the hearing?...6 IF YOU DO NOTHING...6 20. What happens if I do nothing at all?...6 GETTING MORE INFORMATION...7 21. Are there more details about the proposed Settlement?...7 22. How do I get more information?...7 PLAN OF ALLOCATION OF NET SETTLEMENT FUND AMONG CLASS MEMBERS...7 Page 2
BASIC INFORMATION 1. Why did I get this notice package? You or someone in your family may have bought or leased a car from Five Town Toyota and also bought a paintless dent repair policy from Five Town Toyota OR someone else transferred their paintless dent repair policy to you. The Court directed that this Settlement Notice be sent to Settlement Class Members because they have a right to know about a proposed settlement of a class action lawsuit, and about all of their options, before the Court decides whether to approve the Settlement. If the Court approves the Settlement, and after objections and appeals are resolved, an administrator appointed by the Court will make the cash payments that the Settlement allows. This package explains the lawsuit, the Settlement, Settlement Class Members legal rights, what benefits are available, who is eligible for them, and how to get them. The Court in charge of the case is the United States District Court for the Eastern District of New York, and the case is known as Cain v. J.P.T. Automotive, Inc., d/b/a Five Town Toyota, Civil Action No. CV-05-3805. The case was assigned to United States District Court Judge Leonard Wexler. The people who sued are called plaintiffs, and the company they sued, J.P.T. Automotive, Inc., or Five Town Toyota, is called the Defendant. 2. What is this lawsuit about? This lawsuit is about whether - Five Town Toyota properly disclosed the purchase price for a paintless dent repair policy that it sold to its customers, and - Five Town Toyota s sale to consumers of paintless dent repair policies was sale of insurance without a New York State insurance license. 3. What is a class action and who is involved? In a class action lawsuit, one or more people called Class Representatives (in this case Anthony Cain) sue on behalf of other people who have similar claims. The people together are a Class or Class Members. The customers who sued and all the class members like them are called the Plaintiffs. The company that they sued (in this case Five Town Toyota) is called the Defendant. One court resolves the issues for everyone in the Class except for those people who choose to exclude themselves from the Class. 4. What is the background to the settlement? On or about August 4, 2005, Plaintiff filed suit against Defendant in the matter of Cain v. J.P.T. Automotive, Inc., d/b/a Five Town Toyota, Civil Action No. CV-05-3805, in United States District Court, Eastern District of New York (the Action ). On or about March 7, 2006, Defendant filed a Third-Party Complaint against Innovative Aftermarket Systems, Inc., Innovative Aftermarket Systems, L.P., and Enterprise Financial Group, Inc. (collectively, the Third-Party Defendants ). On or about August 4, 2006, the Third-Party Defendants, Innovative Aftermarket Systems, Inc., Innovative Aftermarket Systems, L.P., and Enterprise Financial Group, Inc., each moved to dismiss the Third-Party Complaint. Defendant opposed the motions to dismiss. On or about October 16, 2006, Plaintiff moved to certify the class in this lawsuit. Defendant and the Third-Party Defendants opposed the motion for class certification. By Order dated July 12, 2007, the District Court denied the Third-Party Defendants motions to dismiss the Third-Party Complaint; designated Anthony Cain as lead plaintiff (the Lead Plaintiff ) and the law firm of Sadis & Goldberg LLP as class counsel ( Class Counsel ) in the Action; and certified and defined two Classes consisting of: all persons who bought property insurance from Five Town Toyota where the premiums for that insurance were included in a retail installment contract as part of the Amount Financed ; and all persons who bought property insurance from Five Town Toyota where the insurance was not authorized by the New York State Department of Insurance or Five Town Toyota was not authorized to sell the insurance. On or about August 3, 2007, Third-Party Defendant Innovative Aftermarket Systems, L.P. moved for reconsideration of the order denying dismissal of the Third-Party Complaint against it. By Order dated September 20, 2007, the District Court denied Innovative Aftermarket Systems, L.P. s motion for reconsideration. Counsel for the parties have engaged in extensive, arms-length discussions and conducted a mediation session with regard to the possible settlement of the Action. Lead Plaintiff on behalf of the Settlement Class has agreed in principle to the settlement of the Action because he believes that settlement will provide substantial benefits to the Settlement Class, when weighed against the continued risk of litigation, and because he has determined that it is in the best interests of the Settlement Class to settle the Action on the terms set forth herein. Defendant and Third-Party Defendants have agreed in principle to the settlement of the Action because they believe it will halt the substantial expense, inconvenience, and distraction of continued litigation and finally put to rest any and all claims of the Settlement Class arising out of or relating to the allegations in the Action. Page 3
By Order of the District Court dated December 17, 2007, the Court preliminarily approved the parties Stipulation of Settlement dated December 13, 2007. On or about January 23, 2008, Lead Plaintiff, Defendant, and Third-Party Defendants reached an agreement in principle to settle the Action and entered into a memorandum of understanding setting forth the essential terms of such agreement. Based upon their investigation and extensive pretrial discovery as set forth above, Lead Plaintiff and Class Counsel have concluded that the terms and conditions of the Stipulation are fair, reasonable and adequate to Lead Plaintiff and the Settlement Class, and in their best interests, and Lead Plaintiff has agreed to settle the claims raised in the Action pursuant to the terms and provisions of the Stipulation. Nothing in the Stipulation or any other aspect of the Settlement is or shall be construed or deemed to be evidence of or an admission or concession on the part of Lead Plaintiff of any infirmity in the claims asserted in the Action. Defendant and Third-Party Defendants deny any wrongdoing and nothing in the Settlement or any of the Settlement-related documents is or shall be construed or deemed to be evidence of or an admission or concession on the part of Defendant or any Third-Party Defendant with respect to any claim or of any fault or liability or wrongdoing or damage whatsoever, or any infirmity in the defenses that Defendant or Third-Party Defendants have asserted. Nonetheless, recognizing the cost, distraction and the attendant risks of litigation and without conceding the merits of any of the claims asserted by Lead Plaintiff and the Settlement Class, the Defendant and Third-Party Defendants have agreed to settle the claims which were or could have been raised in the Action pursuant to the terms of the Stipulation. The Court did not finally decide in favor of Plaintiff or Defendant or Third-Party Defendants who continue to deny liability. Instead, Plaintiff, Defendant, and Third-Party Defendants agreed to a settlement on or about January 23, 2008. By settling, the parties avoid the risks and additional costs of the trial, and the affected Settlement Class Members will get compensation. The Plaintiff and Class Counsel believe that the Settlement is best for all Settlement Class Members. WHO IS IN THE SETTLEMENT To see if you will get money from this Settlement, you first have to decide if you are a Settlement Class Member. 5. How do I know if I am part of the Settlement? The Settlement Class includes all persons who bought property insurance from Five Town Toyota where the premiums for that insurance were included in a retail installment contract as part of the Amount Financed ; and all persons who bought property insurance from Five Town Toyota where the insurance was not authorized by the New York State Department of Insurance or Five Town Toyota was not authorized to sell the insurance. 6. Which customers are included? All customers are in the Class as long as they EITHER bought a paintless dent repair policy from Five Town Toyota OR received a transferred paintless dent repair policy from someone else and that policy was originally bought from Five Town Toyota. 7. Are any customers who obtained a paintless dent repair policy from Five Town Toyota not included in the Class? No. 8. I m still not sure if I am included. If you are still not sure whether you are included, you can get free help by calling or writing to the lawyers in this case, calling 1-866-303-8537 or writing to J.P.T. Auto Claims Administrator, c/o Complete Claim Solutions, LLC, P.O. Box 24785, West Palm Beach, FL 33416. Or you can fill out and return the Proof of Claim form described on page 4 in question 10 below, to see if you qualify. THE SETTLEMENT BENEFITS WHAT YOU GET Defendant and Third-Party Defendants have agreed to pay a total of $100,000 to the Settlement Class. The cash, net of fees and expenses, is to be divided among all Settlement Class Members who send in a valid Proof of Claim form ( Authorized Claimants ). Proof of Claim forms are required to be submitted by July 14, 2008. Defendant and Third-Party Defendants have also agreed to pay $200,000 to the lawyers who represented the Settlement Class. 9. How much will my payment be? Your allocable portion of the Net Settlement will be based on the price at which you or the original purchaser purchased paintless dent repair from Five Town Toyota. 10. How can I get a payment? To qualify for a payment, you must send in a Proof of Claim form. A Proof of Claim form is being circulated with this Settlement Notice. Read the instructions carefully, fill out the form, include all the documents and information that the form asks for, sign it, and mail it postmarked no later than July 14, 2008. Page 4
11. When would I get my payment? The Court will hold a hearing on August 13, 2008, to decide whether to approve the Settlement with the Defendant and Third-Party Defendants. If the Court approves the Settlement, there may be appeals. It is always uncertain whether any appeals can be resolved, and resolving them can take time, perhaps more than a year. It also takes time for all the Proofs of Claim to be processed. 12. What am I giving up in exchange for my payment? If the Settlement is approved, you, as a Settlement Class Member, on your own behalf and on behalf of your predecessors, successors, heirs, executors, administrators, legal representatives, and assigns, will release all Released Claims (as defined below) against the Released Parties (as defined below). Released Claims means any and all claims, debts, demands, rights, actions or causes of action, or liabilities whatsoever (including, but not limited to, any claims for damages, indemnification, equitable relief, interest, attorneys fees, expert or consulting fees, and any other costs, expenses or liability whatsoever), whether based on federal, state, local, statutory or common law or any other law, rule or regulation, whether fixed or contingent, accrued or un accrued, liquidated or un-liquidated, at law or in equity, matured or unmatured, whether class or individual in nature, including both known claims and Unknown Claims (defined below) that (i)(a) have been, or in the future could be, asserted in the Action by Releasors (defined below) or any of them against any of the Released Parties (defined below) from the beginning of time to the Effective Date, or (B) could have been asserted in any forum by Releasors or any of them against any of the Released Parties, and (ii) arise out of, are based upon, or relate in any way to the allegations, transactions, facts, matters or occurrences, representations or omissions involved, set forth, or referred to in the Complaint or Third-Party Complaint. Released Claims shall exclude any claims for personal injury, property damage, wrongful death, warranty claims, or any claims arising out of the condition of a motor vehicle purchased or leased from Defendant by a Class Member or by Class Members. Released Parties means the Defendant and Third-Party Defendants, their past or present subsidiaries, parents, affiliates, partnerships, successors and predecessors, officers, directors, service providers, shareholders, agents, employees, attorneys, auditors, advisors, investment banks and advisors, underwriters and insurers, legal representatives, heirs, executors, trustees, successors in interest or assigns of the Defendant or Third-Party Defendants. If you remain a member of the Settlement Class, all of the Court s orders will apply to you and legally bind you. EXCLUSION FROM THE SETTLEMENT CLASS 13. Can I exclude myself from the Settlement Class now? No. Class Counsel previously sent out a notice to all Settlement Class Members in order to allow all Class Members the option to exclude themselves. That notice gave a deadline of December 21, 2007 for Class Members to submit exclusion request forms. If you did not send an exclusion request form by December 21, 2007, it is too late for you to ask to be excluded from the Settlement Class. You can, however, object to the proposed Settlement, if you wish to do so. See question 16 below. THE LAWYERS REPRESENTING YOU 14. Do I have a lawyer in this case? The Court decided that the law firm of Sadis & Goldberg LLP, of New York, NY, is qualified to represent you and all Class Members. This law firm is called Class Counsel. They are experienced in handling similar cases against other car dealerships. More information about this law firm, their practices, and their lawyers experience is available at www.sglawyers.com. 15. Should I get my own lawyer? You do not need to hire your own lawyer because Class Counsel is already working on your behalf. But if you want your own lawyer, you will have to pay that lawyer. For example, you can ask him or her to appear in Court for you if you want someone other than Class Counsel to speak for you. OBJECTING TO THE SETTLEMENT You can tell the Court that you do not agree with the Settlement or some part of it. 16. How do I tell the Court that I do not like the proposed Settlement? If you are a Settlement Class Member, you can object to the Settlement or any of its terms, the proposed Plan of Allocation, if you do not like any part of them. You can give reasons why you think the Court should not approve the Settlement or any of its terms, or the proposed Plan of Allocation. If you are a Settlement Class Member, the Court will consider your views. To object, you must send a signed letter saying that you object to the proposed Settlement or any of its terms, or the proposed Plan of Allocation in the matter of Cain v. J.P.T. Automotive, Inc., d/b/a Five Town Page 5
Toyota. Be sure to include your name, address, telephone number, and your signature, identify the date and prices of the paintless dent repair purchases that you made, and state what you object to, and the reasons why you object. Mail the signed objection to the Court and mail copies of the objection to Counsel at each of the following addresses, postmarked no later than August 1, 2008: COURT Clerk of the Court United States District Court for the Eastern District of New York Long Island Courthouse 100 Federal Plaza Central Islip, NY 11722 COUNSEL FOR DEFENDANT AND THIRD-PARTY DEFENDANTS Warren Herland, Esq. Jones, Hirsch, Connors & Bull One Battery Park Plaza New York, NY 10004 Attorneys for Defendant J.P.T. Automotive, Inc., d/b/a Five Town Toyota Alun Griffiths, Esq. Satterlee, Stephens, Burke & Burke, LLP 230 Park Avenue New York, NY 10169 Attorneys for Third-Party Defendants Innovative Aftermarket Systems, Inc. and Innovative Aftermarket Systems, L.P. CLASS COUNSEL Francis Bigelow, Esq. Sadis & Goldberg LLP 551 Fifth Avenue, 21 st Floor New York, NY 10176 Attorneys for Plaintiff Robert E. Crotty, Esq. Kelley Drye Collier Shannon 3050 K Street, N.W., Fourth Floor Washington, D.C. 20007 Attorneys for Third-Party Defendant Enterprise Financial Group, Inc. Andrew Loren Harris Graves Dougherty Hearon & Moody 401 Congress Avenue, Suite 2200 Austin, TX 78701 Attorneys for Third-Party Defendants Innovative Aftermarket Systems, Inc. and Innovative Aftermarket Systems, L.P. THE COURT S FAIRNESS HEARING The Court will hold a hearing to decide whether to approve the proposed Settlement with the Defendants. You may attend and you may ask to speak, but you do not have to. 17. When and where will the Court decide whether to approve the proposed Settlement? The Court will hold a Fairness Hearing at 11:00 a.m. on August 13, 2008, at the United States District Court for the Eastern District of New York, Long Island Courthouse, 100 Federal Plaza, Central Islip, NY 11722. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. If there are objections, the Court will consider them. The Court will listen to people who have asked to speak at the hearing. The Court may also consider whether the Plan of Allocation is fair and reasonable and may decide how much to pay to Class Counsel. After the hearing, the Court will decide whether to approve the Settlement and the Plan of Allocation. We do not know how long these decisions will take. 18. Do I have to come to the hearing? No. Class Counsel will answer questions that the Court may have. But you are welcome to come at your own expense. If you send an objection, you do not have to come to Court to talk about it. As long as you mailed your written objection on time, the Court will consider it. You may also hire your own lawyer at your own expense to attend, but it is not necessary that you have a lawyer attend. 19. May I speak at the hearing? If you object to the Settlement or the Plan of Allocation, you may ask the Court for permission to speak at the Settlement Fairness Hearing. To do so, you must include with your objection (see question 16 above) a statement saying that it is your Notice of Intention to Appear in the Cain v. J.P.T. Automotive, Inc., d/b/a Five Town Toyota Action. You cannot speak at the hearing if you have excluded yourself from the Class. Persons who intend to object to the Settlement or the Plan of Allocation and desire to present evidence at the Settlement Fairness Hearing must include in their written objections the identity of any witnesses that they may call to testify and exhibits that they intend to introduce in evidence at the Settlement Fairness Hearing. IF YOU DO NOTHING 20. What happens if I do nothing at all? If you do nothing, you will get no money from this Settlement. You must submit a Proof of Claim form in order to share in the Net Settlement Fund. The Final Order and Judgment approving the Settlement will dismiss the Action and settle and release all Settlement Class Members Released Claims as against all of the Released Parties (as defined in response to question 12 above). Whether or not they submit a Proof of Claim, all Settlement Class Members will be barred and enjoined from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against the Defendant or any Third-Party Defendant and the other Released Parties about the Released Claims, ever again. Page 6
GETTING MORE INFORMATION 21. Are there more details about the proposed Settlement? This Notice summarizes the proposed Settlement. More details are in a Stipulation and Agreement of Settlement, dated March 10, 2008 (the Stipulation ). You can get a copy of the Stipulation by writing to Francis Bigelow, Esq., Sadis & Goldberg LLP, 551 Fifth Avenue, 21 st Floor, New York, New York 10176. You can also call the Claims Administrator toll free at 1-866-303-8537; visit www.completeclaimsolutions.com/jptauto/; or write to J.P.T. Auto Claims Administrator, c/o Complete Claim Solutions, LLC, P.O. Box 24785, West Palm Beach, FL 33416. 22. How do I get more information? For even more detailed information concerning the matters involved in this Action, reference is made to the pleadings, to the Stipulation, to the Orders entered by the Court and to the other papers filed in the Action, which may be inspected at the Office of the Clerk of the Court, United States District Court for the Eastern District of New York, Long Island Courthouse, 100 Federal Plaza, Central Islip, NY 11722 during regular business hours. PLAN OF ALLOCATION OF NET SETTLEMENT FUND AMONG CLASS MEMBERS The $300,000 Settlement Amount and any interest earned thereon shall be the Gross Settlement Fund. The Gross Settlement Fund, less $200,000 in attorneys fees paid to Class Counsel, all taxes, approved costs, fees and expenses (the Net Settlement Fund ), shall be distributed by the Claims Administrator to members of the Settlement Class who submit acceptable Proofs of Claim ( Authorized Claimants ). The amount ( Recognized Claim ) to be distributed to each Authorized Claimant shall be based on the amount paid for the paintless dent repair product that was purchased from Five Town Toyota. The Claims Administrator shall determine each Authorized Claimant s pro rata share of the Net Settlement Fund based upon each Authorized Claimant s Recognized Claim. The Recognized Claim amount is not intended to be an estimate of what a Settlement Class Member might have been able to recover after a trial; nor are they estimates of the amount that will be paid to Authorized Claimants pursuant to the Settlement. The Recognized Claim is the basis upon which the Net Settlement Fund will be proportionately allocated to the Authorized Claimants. General Provisions: Settlement Class Members who do not submit acceptable Proofs of Claim will not share in the settlement proceeds but will nevertheless be bound by the Settlement and the Order and Final Judgment of the Court dismissing this Action. Distributions will be made to Authorized Claimants after all claims have been processed and after the Court has finally approved the Settlement. If any funds remain in the Net Settlement Fund by reason of uncashed checks or otherwise, then, after the Claims Administrator has made reasonable and diligent efforts to have Settlement Class Members who are entitled to participate in the distribution of the Net Settlement Fund cash their distributions, any balance remaining in the Net Settlement Fund one (1) year after the initial distribution of such funds shall be re-distributed to Settlement Class Members who have cashed their initial distributions and who would receive at least $10.00 from such redistribution, after payment of any unpaid costs or fees incurred in administering the Net Settlement Fund for such re-distribution. If after six (6) months after such re-distribution any funds shall remain in the Net Settlement Fund, then such balance shall be distributed to non-sectarian, not-for-profit, 501(c)(3) organization(s) designated by Class Counsel. The fees and expenses associated with services provided by the Claims Administrator ( Administration Fees ) in this matter are estimated at $40,000-$50,000. Any and all payments of Administration Fees in this matter shall be made as follows: 50% shall be paid from the Net Settlement Fund, and 50% shall be paid from the $200,000 attorneys fees payment to Class Counsel, except that in no event shall the amount paid from the Net Settlement Fund exceed $25,000. Lead Plaintiff, Defendant, Third-Party Defendants, their respective counsel, and all other Released Parties shall have no responsibility for or liability whatsoever for the investment or distribution of the Settlement Fund Cash Account, the Net Settlement Fund, the Plan of Allocation or the determination, administration, calculation, or payment of any Proof of Claim or non-performance of the Claims Administrator, the payment or withholding taxes owed by the Settlement Fund or any losses incurred in connection therewith. Dated: Central Islip, New York By Order of the Court May 7, 2008 CLERK OF THE COURT Page 7
J.P.T. AUTO CLAIMS ADMINISTRATOR C/O COMPLETE CLAIM SOLUTIONS, LLC P.O. BOX 24785 WEST PALM BEACH, FL 33416 IMPORTANT COURT DOCUMENTS