Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 43

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 43
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; accounting rule changes; and other items of an unusual nature that infrequently occur. Unlike the adjustment policy for the Senior Level Bonus Plan, the Committee generally does   
 not adjust the performance metrics or results of PSUs for changes in foreign exchange rates due to the multi-year performance period. However, the Committee reserves the right to make such adjustment in its discretion in the     
 event of a large-scale, macroeconomic event that impacts foreign currency rates.                                                                                                                                                     |

| – | Relative TSR.A company that is included in the Relative TSR peer group at the grant date will be removed from the Relative TSR calculation                                                                                     
 for the Relative TSR period in the event of any of the following events during the Relative TSR period: mergers, acquisitions or business combination transactions of a peer group company if the company is not the surviving 
 entity; a peer group going private or a liquidation of a peer group company; and the bankruptcy of a peer group company if the company is not publicly traded at the end of the performance period.                            |

68 | 2025 PROXY STATEMENT

Other Benefits And Perquisites The following tables sets forth significant benefits and perquisites Gentherm provided its NEOs in 2024:

| Element | 2024 Information |

| Defined Contribution 
 Retirement Plan      | •The Company maintains the 401(k) Plan to provide all eligible                                                                                                                                                                       
 U.S. employees, including the NEOs other than Mr. Stocker, with a means to accumulate retirement savings on a tax-advantaged basis. For 2024, on a discretionary basis, the Company matched 100% of each employee’s contributions up 
 to a contribution equal to 4% of the employee’s compensation, with such employee contributions subject to IRS limitations. The Company may, but is not required to, make additional discretionary contributions. The Company has not 
 made any discretionary contribution to the 401(k) Plan since its inception.                                                                                                                                                          
 •Mr. Stocker participates in the same standard retirement benefits scheme as all other                                                                                                                                               
 employees located in Germany.                                                                                                                                                                                                        |
| Automotive Benefit   | •The Company believes it is important that our leadership team                                                                                                                                                                       
 thoroughly understand our products and are users of our products, in particular since the automotive segment has been and continues to be our primary market and represents a substantial portion of our revenues.                   
 •The Company provides each NEO with the use of a Company-leased automobile or an                                                                                                                                                     
 automobile allowance and reimbursement of related expenses in line with the policy covering such benefits located in their country of employment.