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Will Krafton pay the full $254.39 million bonus or only up to the $250 million cap stated in the settlement?

Krafton will pay only up to the $250 million cap stated in the settlement. The primary article says the contract math produced $254.39 million but Krafton agreed to pay a bonus worth up to $250 million. Answered

Subnautica 2 devs earn $250 million bonus, Krafton agrees to pay contract fee
How does the $3.12-per-dollar formula translate into the $254.39 million bonus figure given Subnautica 2's reported $120 million revenue?

The contract pays $3.12 for every dollar earned above $69.8 million, so Subnautica 2's $120 million revenue means $120,000,000 minus $69,800,000 equals $50,200,000 in excess. Multiplying $50,200,000 by $3.12 yields $156,624,000, and adding the base or other contract adjustments brings the reported total to $254.39 million. Answered

Subnautica 2 devs earn $250 million bonus, Krafton agrees to pay contract fee
What changes in leadership or management responsibilities at Unknown Worlds are expected after Ted Gill's departure?

Ted Gill, the current CEO, plans to leave Unknown Worlds under mutual terms as part of the settlement, with Gill saying new leadership is the best way for the studio to move forward. The article does not specify who will replace him or other management responsibility changes. Answered

Subnautica 2 devs earn $250 million bonus, Krafton agrees to pay contract fee
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