Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 38

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 38
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 or a 132.9% payout. |

| – | Revenue (40% weighting) was $1,473.0 million, which corresponded to achievement between threshold and target, or a 56.5% payout. |

COMPANY STRATEGIC GOALS (20% WEIGHTED). The three strategic performance metrics established for 2024 reflect the Company’s focus on overall new business, technology growth, and sustainability. Achievement payouts for each performance metric were set at threshold (50%), target (100%) and maximum (200%) with interpolation for achievement in-between. COMPANY STRATEGIC PERFORMANCE IN 2024. The Company’s achievement of the 2024 strategic goals and the resulting payout for such weighted factor is set forth below.

| – | Automotive New Business Awards (40% weighting of Strategic Goals)was $2,400 million, which corresponded to above maximum achievement, or a                                                                                          
 200% payout. Automotive new business awards is defined as the aggregate projected lifetime revenue of new automotive awards provided by customers to the Company, with the value based on the price and volume projections received 
 from each customer as of the award date. Gentherm believes that automotive new business awards are an indicator of future revenue.                                                                                                  |

| – | New Technology Wins (40% weighting of Strategic Goals)was 8, which corresponded to above maximum achievement, or a 200% payout. New technology                                                                                   
 wins is defined as the number of new business awards provided by customers to the Company related to specified new technologies or other related or novel product at the discretion of the Committee. Gentherm believes that new 
 technology wins are an indicator of future business expansion and revenue growth.                                                                                                                                                |

| – | Increase in Renewable Energy Share (20% weighting of Strategic Goals)was 17%, which corresponded to above maximum achievement, or a 200%                                                                                          
 payout. Increase in renewable energy share is defined as the increase in the Company’s renewable energy share as a percentage of total energy usage (including both on-grid and off-grid usage). Renewable energy includes onsite 
 generation, purchased energy that is documented as renewable via REC or the Green Tariff program, and any standard grid-supplied energy that is documented as a renewable share. Gentherm believes that renewable energy share is 
 important to achieving its carbon reduction goal and to meeting customer requirements.                                                                                                                                            |

OBJECTIVE BONUS ADJUSTMENT POLICY. The Committee adopts an objective policy each year concurrent with approving the Senior Level Bonus Plan to address the following unusual