ORDER

ROY B. DALTON, Jr., District Judge.

This cause is before the Court on the following:

On January 29, 2014, Plaintiffs Debra Monserrate, Shawn Craft, Kelly Birchell, Vivian Edwards, Bill Faber, and Greg Maybeck1 ("Representative Plaintiffs")2 initiated the instant collective action against Defendant Hartford Fire Insurance Company under the Fair Labor Standards Act ("FLSA"). (Doc. 1.) On July 2, 2015, the Court conditionally certified a class of employees who worked as analysts in Defendant's Maitland and Lake Mary locations for more than forty hours a week without overtime compensation ("Class Plaintiffs"). (Doc. 129.) Forty-three Class Plaintiffs opted into the action. (Doc. 258, p. 3.)

In the instant Motion, the parties seek approval of an agreement purporting to settle the remaining disputes between Defendant and the Representative and Class Plaintiffs.3 (Doc. 255; see also Doc. 255-1 ("Agreement").) Specifically, the Agreement provides for a total settlement amount of $3,677,386.00, inclusive of: (1) $2,650,000.000 in unpaid overtime wages and liquidated damages to be divided among the Representative and Class Plaintiffs in accordance with a distribution chart attached to the Agreement ("Settlement Amount") (Doc. 255-1, pp. 3, 6-7, 25-27); and (2) $1,027.386.00 in attorney fees and litigation expenses agreed upon separately without regard to Settlement Amount and with input from a third-party mediator (see id. at 10-11). The Settlement Amount includes incentive awards for each Representative Plaintiff, which are intended "to compensate the Representative Plaintiffs for their involvement in this action and the risks associated with being Representative Plaintiffs." (Doc. 255, pp. 13-14.)

The Agreement is contingent on the number of Plaintiffs who execute and return the release form attached to the Agreement. (Doc. 255-1, pp. 6-7, 28-29.) As such, the parties request that the Court retain jurisdiction over the case through the completion of the Agreement's notice, release, and payment provisions, at which time the parties intend to move for dismissal of the released claims with prejudice. (Doc. 255, p. 4.)

On September 22, 2016, U.S. Magistrate Judge Gregory J. Kelly issued a Report and Recommendation, finding that: (1) the Agreement seeks to resolve a bona fide dispute; (2) the parties have failed to adequately demonstrate that the Representative Plaintiffs are entitled to incentive awards; (3) the Agreement—inclusive of the proposed pro rata distribution scheme—is otherwise a fair and reasonable settlement of Plaintiffs' FLSA claims; and (4) the proposed release is sufficiently limited in scope. (Doc. 258 ("R&R").) Accordingly, Magistrate Judge Kelly recommends that the Court approve the Agreement with the exception of the incentive awards. (Id. at 13.) Magistrate Judge Kelly also recommends that the Court retain jurisdiction and dismiss the case without prejudice subject to the right of any party, within ninety (90) days of the Court's Order on the Motion, to move for dismissal with prejudice or to reopen the case for further proceedings upon a showing of good cause. (Id. at 12-13.) On October 4, 2016, the parties filed a notice of no objection to the R&R. (Doc. 262.)

Upon consideration, and in the absence of any objection, the Court finds that the Magistrate Judge Kelly's well-reasoned R&R is due to be adopted, confirmed and made a part of this Order. The parties' Motion is thus due to be granted to the extent recommended in the R&R.

Accordingly, it is hereby ORDERED AND ADJUDGED:

DONE AND ORDERED.