NEW YORK (CNNMoney)
The settlement still has to be approved by a federal court in New York.
The lawsuit says that the interns "received no compensation or compensation at a rate less than the applicable hourly minimum wage" while working for NBCUniversal, according to court documents.
The lawsuit was filed last year by former interns Monet Eliastam, Jesse Moore, Alexander Vainer and Rheanna Behuniak against NBC Universal, which is owned by Comcast (CCV).
The interns accused NBCUniversal of illegally classifying them as interns exempt from federal and state minimum wage and spread-of-hours pay.
Related: Comcast grows revenue and customers
The net settlement amount will be divided among the unpaid interns. Court documents said the average payment will be $505.
But certain interns will be paid more. Depending on the court ruling, Eliastam could be paid up to $10,000, while Vainer and Behuniak could get paid up to $5,000. Other interns could get paid up to $2,000.
As part of the agreement, Eliastam can't apply to work for NBCUniversal for at least five years.
The document did not say how many SNL interns were participating, but capped the number at 8,975.
First Published: October 24, 2014: 8:01 AM ET
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