Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 59

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 59
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,758 | 13,800 | 64,942 |   600 |

| (5) | Mr. Anversa and Ms. Xu departed the Company in September 2024 and December 2024, respectively; as a result, their salaries were prorated for the partial year and they did not earn a 
 bonus. Mr. Eyler departed the Company in December 2024 and did not earn a bonus.                                                                                                      |

| (6) | All cash payments reported for Mr. Stocker were paid in Euros and were converted to US Dollars for purposes of this table. In 2024, 2023 and 2022, we used the average exchange rate 
 of EUR 1 = 1.05 USD, EUR 1 = 1.09 USD and  EUR 1 = 1.09 USD, respectively.                                                                                                           |

| (7) | Reflects a revised "Total" amount for Ms. Xu for 2022, which was 1,664,523 but was inadvertently disclosed as 1,644,523 in Summary Compensation Table of our previously filed 
 Definitive Proxy Statement on Schedule 14A.                                                                                                                                   |

Narrative Discussion of Summary Compensation Table Terminations in 2024 and Severance In connection with his departure, Mr. Eyler entered into a Separation and Consulting Agreement that confirmed specified severance benefits from his employment agreement. In connection with her departure, Ms. Xu was eligible to receive the severance benefits specified for a termination without Cause in accordance with the Severance Plan. Notwithstanding such severance benefits, the Summary Compensation Table does not reflect any such amounts under SEC rules because such benefits were contingent on compliance with specified conditions as of December 31, 2024. Mr. Anversa did not receive severance and related benefits in connection with his resignation in September 2024. Employment Contracts We typically enter into employment contracts with our NEOs that summarize basic terms of their employment, including their initial base salaries, sign-on bonus, if any, benefits and participation in the Senior Level Bonus Plan and long-term incentive program. The employment contracts do not provide for a fixed duration, and our NEOs are at-will employees of the Company. 79 | 2025 PROXY STATEMENT In 2021, we implemented the Severance Plan for U.S.-based employees, and we amended the employment contracts with our NEOs then employed (other than Mr. Eyler) to address severance and change in control termination