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RESOLUTION NO. 77 SERIES 2021 A RESOLUTION APPROVING THE COLORADO OPIOIDS SETTLEMENT MEMORANDUM OF UNDERSTANDING AND OTHER DOCUMENTS NECESSARY FOR LOUISVILLE'S PARTICIPATION IN PENDING OPIOIDS SETTLEMENTS WHEREAS, the Office of the Colorado Attorney General recently distributed information concerning local government participation in settlements of claims related to the national opioid crisis brought by state and local governments against various, major pharmaceutical manufacturers and distributers (the "Defendants") ; and WHEREAS, the Attorney General's Office and the litigating plaintiffs anticipate one or more settlements with Defendants in the federal litigation; and WHEREAS, in anticipation of the potential settlements, the State of Colorado and various Colorado local governments have negotiated an agreement governing the allocation, distribution, and expenditure of any settlement proceeds paid in connection with the opioids litigation; and WHEREAS, participation in the settlements is not limited to governments that filed suit in the opioid litigation; and WHEREAS, on August 26, 2021, Colorado Attorney General, Philip J. Weiser, signed the attached Colorado Opioids Settlement Memorandum of Understanding, together with Exhibits A through G (the "MOU"), governing the allocation, distribution, and expenditure of settlement proceeds, on behalf of the State of Colorado; and WHEREAS, the MOU applies to all pending and future settlements reached with opioid manufacturers and distributers; and WHEREAS, along with the MOU, local governments have been asked to approve, sign, and return two settlement participation forms, the first regarding the pending settlement with opioid manufacturer Janssen (Johnson & Johnson), and the second regarding the pending settlement with opioid distributors AmerisourceBergen, Cardinal Health, and McKesson (the "Settlement Participation Forms"); and WHEREAS, local governments have been asked, further, to approve, sign, and return the Colorado Subdivision Escrow Agreement, which ensures that local governments' legal claims are released only when ninety-five percent (95%) participation by certain local governments has been reached; and WHEREAS, the ninety-five percent (95%) participation threshold is important because it triggers certain amounts of incentive payments under the settlements and signals to the settling pharmaceutical companies that the settlements have wide acceptance; and Resolution No. 77, Series 2021 Page 1 of 2