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HomeMy WebLinkAboutC21-354 CO Subdivision EscrowDocuSign Envelope ID: F24DC448-951A-4F06-AC92-E6B31444DE81 Colorado Subdivision Escrow Agreement Governmental Entity: Eagle County State: CO Authorized Official: Board of County Commissioners Address l: 500 Broadway Street Address 2: City, State, Zip: Eagle, CO 81631 Phone: 970-328-8605 Email: eagleadmin@eaglecounty.us The governmental entity identified above ("Governmental Entity") hereby provides Colorado Counties, Inc. (for counties) or the Colorado Municipal League (for municipalities) ("Escrow Agent") the enclosed copies of the Governmental Entity's endorsed Subdivision Settlement Participation Forms and the Colorado Opioids Settlement Memorandum of Understanding ("Colorado MOU"), to be held in escrow. The Subdivision Settlement Participation Forms apply respectively to (1) the National Settlement Agreement with McKesson Corporation, Cardinal Health, Inc., and AmerisourceBergen Corporation, dated July 21, 2021 ("Distributor Settlement"); and (2) the National Settlement Agreement with Janssen Pharmaceuticals, Inc., and its parent company Johnson & Johnson, dated July 21, 2021 ("J&JSettlement" ). Pursuant to this Agreement, the Subdivision Settlement Participation Forms and the Colorado MOU will be released only if there is 95% participation by local governments in Colorado as further explained below. Purpose of this Agreement By endorsing a Subdivision Settlement Participation Form in the Distributor Settlement and the J&J Settlement, a governmental entity agrees to participate in those settlements and release any legal claims it has or may have against those settling pharmaceutical companies. This Colorado Subdivision Escrow Agreement is meant to ensure that the legal claims of governmental entities in Colorado will be released only when 95% participation by certain governmental entities has been reached. That 95% participation threshold is important because it signals to the settling pharmaceutical companies that the settlement has wide acceptance which will then secure significant incentive payments under these settlement agreements. Escrow The Escrow Agent shall promptly report the receipt of any Governmental Entity's endorsed Subdivision Settlement Participation Forms and Colorado MOUs to the Colorado Attorney General's Office and to the law firm of Keller Rohrback L.L.P. These documents shall be released by the Escrow Agent to the Colorado Attorney General's Office if and when the Escrow Agent is notified by the Attorney General's Office and Keller Rohrback that that the threshold 95% participation levels have been reached for both the Distributor Settlement and the J&J Settlement, as further described below. If by December 29, 2021, the Escrow Agent has not received notification that the threshold 95% levels have been reached for both the Distributor Settlement and the J&J Settlements, then the documents being escrowed shall be returned to the Governmental Entities and all copies shall be destroyed. DocuSign Envelope ID: F24DC448-951A-4F06-AC92-E6B31444DE81 Distributor Settlement The Attorney General's Office and Keller Rohrback shall jointly submit a written notification to the Escrow Agent when it has been determined that the percentages of populations eligible for Incentives B and C, as described in Sections IV.F.2 and IV.F.3 of the Distributor Settlement, are each 95% or more. For purposes of this Escrow Agreement, the percentages of populations eligible for Incentives B and C under the Distributor Settlement will include governmental entities that sign a Subdivision Settlement Participation Form subject to an escrow agreement and governmental entities that sign a Subdivision Settlement Participation Form that is not subject to an escrow agreement. J&J Settlement The Attorney General's Office and Keller Rohrback shall jointly submit a written notification to the Escrow Agent when it has been determined that the Participation or Case -Specific Resolution Levels for Incentives B and C, as described in Sections V.E.5 and V.E.6 of the J&J Settlement, are each 95% or more. For purposes of this Escrow Agreement, the percentages or populations eligible for Incentives B and C under the J&J Settlement will include governmental entities that sign a Subdivision Settlement Participation Form subject to an escrow agreement and governmental entities that sign a Subdivision Settlement Participation Form that is not subject to an escrow agreement. Colorado Subdivision Name Eagle County Board of County Commissioners ------------------------------------------------------ CO;_-NTY OF EAGLE, STATE OF COLORADO, By anCi Thro+ab Its BOARD OF COUNTY COM10SS10ERS ------------------------------------------------------------ DocuSigned by: By- --------- — --------- ------------------------------ �8%F7E-2D71i8+F114z3.._, mat SdEffJ} R. hai Arrest DocuSigned by: By: ____________________F_9D62E24fiBiiz&-.____-----_ Rea In O'Brien, Clexk to the Baud =-----------------------------------------=