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Monetary Relief

Morgan Stanley > Gender Discrimination > Consent Decree > Monetary Relief

Section 5: Monetary Relief

10. Morgan Stanley shall pay a Total Settlement of $54 million. Of that sum, $40 million shall be paid within 30 days of the entry of this Consent Decree into a Claim Fund to be used to pay awards to claimants pursuant to the Claims Process described in Section 7 below. That $40 million sum shall be deposited into a bank account bearing an interest rate in effect at such bank for commercial, interest-bearing short-term accounts. Any interest earned on the account shall become part of the Claim Fund. Of the Total Settlement Amount, $2 million shall be spent on costs incurred in implementing Sections 10 through 16 of this Consent Decree.

11. The Fund Administrator, a Morgan Stanley employee, shall be responsible for distribution from the Claim Fund, which shall be made in accordance with the terms of this Consent Decree, and only upon agreement of EEOC and Morgan Stanley or by order of the Court. Upon five days notice, EEOC may inspect the records of the Claim Fund.