Document:

EX-10.1

 Exhibit 10.1 
 Execution Copy 
 Framework Agreement 

(the “Agreement”) 
 Milbank, Tweed, Hadley & McCloy LLP 
 Taunusanlage 15 

60325 Frankfurt am Main, Germany 

 Framework Agreement 

dated as of February 15, 2013 
 by and among 
  

	1.	Deutsche Balaton AG, a stock corporation organized under the laws of the Federal Republic of Germany, with its seat in Heidelberg and its business address at
Ziegelhäuser Landstraße 1, 69120 Heidelberg, and registered with the commercial register of the local court of Mannheim under HRB 338172 (“Balaton”) 

 

	2.	Gentherm Incorporated, a corporation organized under the laws of the State of Michigan, USA, with its seat in Northville, USA and its business address at
Northville, Michigan, 21680 Haggerty Road, Ste. 101, 48167 USA (“Gentherm Inc.”) 

  

	3.	Gentherm Europe GmbH, a limited liability company organized under the laws of the Federal Republic of Germany, with its seat in Augsburg and its business address
at Ulmer Straße 160B, 86156 Augsburg, and registered with the commercial register of the local court of Augsburg under HRB 25596 (“Purchaser”) 

- the parties under 2. and 3. collectively “Gentherm” - 

- Balaton, Gentherm Inc. and Purchaser each a “Party” and, 

collectively, the “Parties” - 

  
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 Table of Contents 

 

					
	 1. Definitions
	  	 	7	  
	 2. Settlement; Escrow of Settlement Agreement
	  	 	9	  
	 3. Sale and Purchase of the Shares
	  	 	10	  
	 4. Shareholding of Balaton in Gentherm Inc.
	  	 	10	  
	 5. Closing; Subsequent Acts
	  	 	10	  
	 6. Confidentiality
	  	 	12	  
	 7. Termination
	  	 	13	  
	 8. Notices; Accounts
	  	 	14	  
	 9. Choice of Law, Venue
	  	 	15	  
	 10. Interpretation, Formalities, Severability
	  	 	15	  
	 11. Miscellaneous
	  	 	16	  

  
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 List of Annexes 

 

			
	 	 
	 Annex

 
	  	 Topic

 

	 	 
	 Annex P.14

 
	  	Executed Trustee Agreement
	 	 
	 Annex 2

 
	  	Draft of Registration Rights Agreement
	 	 
	 Annex 3

 
	  	Draft of Settlement Agreement
	 	 
	 Annex 4

 
	  	Draft of SPA
	 	 
	 Annex 5

 
	  	Draft of Balaton Rights Agreement
	 	 
	 Annex 5.5

 
	  	Notification re. Waiver
	 	 
	 Annex 6.2

 
	  	Press Release Gentherm

  
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 Preamble 

 

	P.1	Whereas, Gentherm Inc. holds all shares in Purchaser. 

  

	P.2	Whereas, Purchaser holds 2,429,403 of the bearer shares with no par value (auf den Inhaber lautende Aktien ohne Nennbetrag (Stückaktien)) in
W.E.T. Automotive Systems A.G., a stock corporation organized under the laws of the Federal Republic of Germany with its seat in Odelzhausen, its business address at Rudolf-Diesel-Str. 12, 85235 Odelzhausen and registered with the commercial
register of the local court of Munich under HRB 119793 (the “Company”), and Gentherm Inc. holds 2,660 of the bearer shares with no par value (auf den Inhaber lautende Aktien ohne Nennbetrag (Stückaktien)) in the
Company. The Company has a registered share capital of EUR 9,600,000 divided into 3,200,000 bearer shares with no par value (each a “W.E.T. Share”), which are admitted for trading in the Regulated Market of the Frankfurt Stock
Exchange. 

  

	P.3	Whereas, Balaton holds 442,253 of the W.E.T. Shares (the “Shares”), which are booked on deposit accounts to the benefit of Balaton.

  

	P.4	Whereas, Purchaser (then named Amerigon Europe GmbH) as controlling entity and the Company as controlled entity entered into a domination and profit and loss
transfer agreement on June 16, 2011 (the “DPLTA”). 

  

	P.5	Whereas, the annual shareholders’ meeting of the Company dated August 16, 2011 (the “2011 Shareholders’ Meeting”) has adopted,
inter alia, the following resolutions: 

  

	 	-	 	 resolutions under agenda item 3 and agenda item 4 on the discharge of the members of the executive board of the Company and the members of the
supervisory board of the Company, respectively, for fiscal year 2010 (the “Discharge Resolutions 2011”), and 

  

	 	-	 	 resolution under agenda item 6 on the approval of the DPLTA (the “DPLTA Approval Resolution”). 

 

	P.6	Whereas, the annual shareholders’ meeting of the Company dated June 14, 2012 (the “2012 Shareholders’ Meeting”) has adopted,
inter alia, the following resolutions: 

  

	 	-	 	 resolutions under agenda item 3 and agenda item 4 on the discharge of the members of the executive board of the Company and the members of the
supervisory board of the Company, respectively, for fiscal year 2011 (the “Discharge Resolutions 2012”), and 

  

	 	-	 	 resolution under agenda item 6 on the confirmation pursuant to Sec. 244 German Stock Corporation Act (AktG) of the DPLTA Approval
Resolution (the “Confirmatory Resolution”). 

  
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	P.7	Whereas, following the 2011 Shareholders’ Meeting, Balaton filed a challenge and voidance action (Anfechtungs- und Nichtigkeitsklage) with the
Regional Court Munich I (Landgericht München I) (file no. 5 HK O 20488/11) against the Company with respect to the Discharge Resolutions 2011 and the DPLTA Approval Resolution (the “Balaton Court Action 2011”).
By first instance decision of the Regional Court Munich I (Landgericht München I) dated April 5, 2012, the court declared the DPLTA Approval Resolution void, but dismissed the Balaton Court Action 2011 with respect to the
Discharge Resolutions 2011. Each of the Company and Balaton appealed against this first instance decision to the Higher Regional Court of Munich (Oberlandesgericht München) (file no. 7 U 1805/12). Such appeal has not yet been
decided on. 

  

	P.8	Whereas, following the 2012 Shareholders’ Meeting, Balaton filed a challenge and voidance action (Anfechtungs- und Nichtigkeitsklage) with the
Regional Court Munich I (Landgericht München I) (file no. 5 HK O 14081/12) against the Company with respect to the Discharge Resolutions 2012 and the Confirmatory Resolution (the “Balaton Court Action
2012”). 

  

	P.9	Whereas, Balaton, furthermore, filed two applications with the Regional Court Munich I (Landgericht München I) (file no. 17 HK O 27730/11
and 17 HK O 16045/12) against the Company each regarding the appointment of a special auditor pursuant to Sec. 142 para. 2 German Stock Corporations Act (AktG) (the “Balaton Court Applications” and, together with
the Balaton Court Action 2011 and the Balaton Court Action 2012, the “Balaton Actions”). By first instance decision of the Regional Court Munich I dated January 17, 2013 one of the Balaton Court Applications (file no.
17 HK O 27730/11) was dismissed. The other Balaton Court Application (file no. 17 HK O 16045/12) has not yet been decided on. 

  

	P.10	Whereas, Gentherm Inc. has informed Balaton that it will seek to obtain written waivers or written declarations of non-exercise of rights from all of the holders
of Gentherm Inc.’s Series C Preferred Stock effectively waiving the rights such holders have to participate in the issuance of equity by Gentherm Inc. 

 

	P.11	Whereas, while holding up their respective legal positions regarding the subject matters of the various Balaton Actions, the Parties intend to finally settle all
Balaton Actions through the Balaton Documentation. The Parties are aware that (i) the Company concluded, among others, a currency related swap with Hypovereinsbank and that the aforementioned contractual parties to such currency related swaps
are currently in legal proceedings concerning the validity of such currency related swaps and related claims and (ii) that the outcome of such lawsuit (and its further handling) may be of interest to the shareholders of the Company.

  

	P.12	 Whereas, Purchaser desires to acquire the Shares, and Balaton is willing to exchange, the Shares against shares in Gentherm Inc. as ultimate
parent company 

  
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of the Company and a cash payment as consideration and subject to and under the terms of the Balaton Documentation. As Balaton via its shareholding in Gentherm Inc. will become an indirect
shareholder in the Company, upon receiving the shares in Gentherm Inc., Balaton will—not as consideration but as a consequence—become an indirect shareholder in the Company. This allows Balaton to participate indirectly in the Company and
therewith continue its investment in the Company. 

  

	P.13	Whereas, Gentherm Inc. requests and Balaton agrees to certain restrictions in respect of Balaton’s future shareholding in Gentherm Inc. as set forth in the
Balaton Rights Agreement. 

  

	P.14	Whereas, the Parties and the Trustee have executed a Trustee Agreement attached to this Agreement as Annex P.14. 

Now, therefore, it is agreed as follows: 
 1. 
 Definitions 

“2011 Shareholders’ Meeting” is defined in Section P.5. 
 “2012 Shareholders’ Meeting” is defined in Section P.6. 

“Agreement” shall mean this Framework Agreement. 
 “Balaton” is defined in the Recitals. 
 “Balaton Actions” is
defined in Section P.9. 
 “Balaton Cash Account” is defined in Section 8.5. 

“Balaton Court Action 2011” is defined in Section P.7. 
 “Balaton Court Action 2012” is defined in Section P.8. 
 “Balaton Court
Applications” is defined in Section P.9. 
 “Balaton Documentation” shall mean this Agreement, the Settlement
Agreement, the SPA, the Balaton Rights Agreement, the Registration Rights Agrement and any notice, certificate or other agreement (except for the Trustee Agreement) related to any of the foregoing, collectively. 

“Balaton Rights Agreement” shall mean the agreement attached to this Agreement in draft form as Annex 5. 

“Balaton Securities Account” is defined in Section 8.5. 
 “Business Day” shall mean a day on which the banks are open to the public for regular business in both Frankfurt am Main, Germany, and Michigan, United States. 

  
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 “Cash Consideration” is defined in Section 5.2(f). 

“Closing” is defined in Section 5.1. 
 “Closing Action” is defined in Section 5.2. 
 “Closing Date” is
defined in Section 5.1. 
 “Company” is defined in Section P.2. 
 “Confidential Information” shall mean any information relating to the Balaton Documentation and/or the Trustee Agreement, the nature and details of the negotiations that preceded the
execution of this Agreement, and information shared by the Parties with each other concerning their respective businesses at any time prior to execution of this Agreement, in whatever form, and includes information given orally and in any document,
electronic file or any other way of representing or recording information which contains or is derived or copied from such information, except to the extent that the relevant facts (i) are or become public knowledge other than as a result of
any breach of Section 6.1 of this Agreement, (ii) are or were known by the relevant person before the date the information is or was disclosed to it or (iii) are lawfully obtained after that date and that have not been disclosed by
any party hereto in accordance with the terms contained in the Balaton Documentation. 
 “Confirmatory Resolution” is defined
in Section P.6. 
 “Declarations of Withdrawal” shall mean the letters attached to the Settlement Agreement in draft form as
Annex 4.1. 
 “Discharge Resolutions 2011” is defined in Section P.5. 
 “Discharge Resolutions 2012” is defined in Section P.6. 

“DPLTA” is defined in Section P.4. 
 “DPLTA Approval Resolution” is defined in Section P.5. 

“Gentherm” is defined in the Recitals. 
 “Gentherm Affiliate” shall mean any direct or indirect subsidiary of Gentherm other than the Company and its direct or indirect subsidiaries. 

“Gentherm Common Stock” shall mean 3,300,000 fully paid and nonassessable shares of the common stock, without par value, of Gentherm
Inc. 
 “Gentherm Inc.” is defined in the Recitals. 
 “Gentherm Representative” shall mean an attorney-at-law of Milbank, Tweed, Hadley & McCloy LLP with business address Taunusanlage 15, 60323 Frankfurt or Maximilianstrasse 15,
80539 Munich, or any person nominated by Gentherm Inc. prior to the Closing Date. 
 “Notice” is defined in Section 8.1.

 “Parties” is defined in the Recitals. 

  
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 “Party” is defined in the Recitals. 

“Proceedings Courts” shall mean the district court Munich I and the Higher Regional Court of Munich. 

“Publication” is defined in Section 11.6. 
 “Purchaser” is defined in the Recitals. 
 “Purchaser’s Deposit
Account” shall mean Purchaser’s deposit account which shall be communicated in writing by Purchaser to Trustee at least three calendar days prior to the Closing Date. 
 “Registration Rights Agreement” shall mean the agreement attached to this Agreement in draft form as Annex 2. 
 “Settlement Agreement” shall mean the agreement attached to this Agreement in draft form as Annex 3. 
 “Shares” is defined in Section P.3. 
 “Share Certificate” shall
mean a physical certificate of the Gentherm Common Stock representing the consideration payable in shares of Gentherm Common Stock as provided in Section 3.3 of the SPA. 
 “SPA” shall mean the agreement attached to this Agreement in draft form as Annex 4. 
 “Trustee” shall mean any partner or associate of the law firm Gütt Olk Feldhaus, Partnerschaft von Rechtsanwälten in Munich, or any other person mutually agreed by Gentherm Inc.
and Balaton prior to the Closing Date. 
 “Trustee Account” shall mean Trustee’s bank account, which has been communicated
in writing by Trustee to the Parties on or prior to the date hereof. 
 “Trustee Agreement” shall mean the agreement attached
to this Agreement as Annex P.14. 
 “Trustee’s Deposit Account” shall mean Trustee’s deposit account,
which has been communicated in writing by Trustee to the Parties on or prior to the date hereof. 
 “W.E.T. Share” is defined
in Section P.2. 
 2. 
 Settlement; Escrow of Settlement Agreement 
  

	2.1	On Closing and as further provided for in Section 5.2, the Parties shall sign the Settlement Agreement, the signed versions and signature pages of which shall not
be exchanged between any of the Parties but shall be held in escrow by the Trustee, who shall, in this respect and with respect to the signed Declarations of Withdrawal, not act as a receiving agent (Empfangsvertreter) pursuant to Sec. 164
para. 3 German Civil Code (Bürgerliches Gesetzbuch, BGB) for any Party. 

  
 9 

	2.2	The Trustee shall be instructed not to exchange or make available to any Party or third party the signature pages of the Settlement Agreement and the signed
Declarations of Withdrawal, and, therefore, the Settlement Agreement shall not become effective, prior to the confirmation by the Trustee that he has received the Share Certificate from Gentherm. 

 

	2.3	Between signing of this Agreement and Balaton’s receipt of the Share Certificate, Gentherm or any Gentherm Affiliate shall not in any way object to Balaton’s
entitlement to procure any of the Balaton Actions and shall not file any declarations with the relevant courts that doubt, question or challenge Balaton’s ability to uphold or support such Balaton Actions. 

3. 

Sale and Purchase of the Shares 
 On Closing and as further provided for in Section 5.2, the Parties shall sign the SPA and the Registration Right Agreement. 
 4. 
 Shareholding of Balaton in Gentherm Inc. 

On Closing and as further provided for in Section 5.2, the Parties shall sign the Balaton Rights Agreement. 

5. 

Closing; Subsequent Acts 
  

	5.1	The consummation of this Agreement (the “Closing”) shall take place at the offices of Trustee in Munich at 8.00 a.m. CET on the first Business Day
following the satisfaction of the conditions set forth in Section 5.5, unless otherwise agreed between the Parties (that date set or agreed for the Closing to take place hereafter referred to as the “Closing Date”). In the
event the conditions set forth in Section 5.5 have not been satisfied by February 28, 2013, this Framework Agreement shall automatically terminate, be of no further force or effect whatsoever and no Party shall have any obligation to any
other Party hereunder whatsoever, except that the Parties shall have such rights and obligations under the Trustee Agreement as shall exist in the event of termination of this Agreement. 

 

	5.2	On the Closing Date, the Parties shall take the actions (each a “Closing Action”) in the order set out below, unless and to the extent such Closing
Actions have not already been taken before the Closing Date: 

  

	 	(a)	 Gentherm Inc. delivers to Balaton written waivers, or other legal binding indications of waiver or non-exercise of rights, from all of the holders of
Gentherm Inc.’s Series C Preferred Stock effectively waiving the rights 

  
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such holders have to participate in the issuance of equity by Gentherm Inc. evidencing that Gentherm Inc. is in a position to issue the Gentherm Common Stock. 

 

	 	(b)	The Parties shall sign the Settlement Agreement in accordance with Section 2 (it being understood that the Settlement Agreement shall not, directly or indirectly,
be delivered to (“zugehen”) Gentherm Inc or the Purchaser unless in accordance with Section 2.1 and the Trustee Agreement). 

  

	 	(c)	The Parties shall sign the SPA. 

  

	 	(d)	The Parties shall sign the Balaton Rights Agreement and the Registration Rights Agreement. 

 

	 	(e)	Gentherm Inc. shall have placed the Share Certificate with the Trustee. 

  

	 	(f)	Purchaser shall pay the amount of the cash payment payable as consideration for the Shares to Balaton as provided for in Section 3.2 of the SPA (the “Cash
Consideration”) to the Trustee Account. 

  

	 	(g)	Balaton shall instruct its bank to book the Shares to the Trustee’s Deposit Account and such bookings shall have occurred, but only following delivery of the Share
Certificate and the amount set forth above under (f) was transferred to the Trustee. 

  

	 	(h)	Balaton shall deliver originals of the signed Declarations of Withdrawal to the Trustee; 

 

	 	(i)	Gentherm shall deliver a written statement of the Company to the Trustee that the Company irrevocably represents to publish any and all documents pursuant to
Section 149 German Stock Corporation Act (AktG) in the Federal Gazette (Bundesanzeiger) related to the settlement of any court proceedings in question and irrevocably authorizing Balaton to make such publications;

  

	5.3	Immediately upon fulfillment of the Closing Actions as set forth in Section 5.2 and the Publication in accordance with Section 11.6, the Trustee shall, in
accordance with the terms of the Trustee Agreement, 

  

	 	(a)	release the Declarations of Withdrawal to the Proceedings Court, and 

  

	 	(b)	deliver the Share Certificate to Balaton, and 

  

	 	(c)	pay the Cash Consideration to the Balaton Cash Account, and 

  

	 	(d)	transfer the Shares from the Trustee’s Deposit Account to Gentherm Europe. 

  
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	5.4	If on the Closing Date Balaton or Gentherm fail or have failed to comply in any material respect with their respective obligations hereunder, the non-failing Party may,
in addition to its rights under applicable law, by written notice to the failing Party: 

  

	 	(a)	defer the date scheduled for the Closing until such failure to comply has been cured, or 

 

	 	(b)	proceed to Closing so far as practicable, 

 in each case without prejudice to its rights hereunder. 
  

	5.5	It is a condition to the obligation of the Parties to commence the Closing that Gentherm Inc. has obtained written waivers, or other indications of waiver or
non-exercise of rights, from all of the holders of Gentherm Inc.’s Series C Preferred Stock effectively waiving the rights such holders have to participate in the issuance of equity by Gentherm Inc. on the same basis as at the equity issuance
of Gentherm Inc. described in this Agreement. Gentherm Inc. shall notify (i) Balaton of the status of receipt of such waivers on a periodic basis and (ii) Balaton and Trustee in the form attached hereto as Annex 5.5 after all
such waivers have been obtained. 

  

	5.6	After delivery of the originals of the signed Declarations of Withdrawal to the Trustee as set forth in Section 5.2(h), Balaton shall not withdraw, revoke, contest
or otherwise challenge the validity of the Declarations of Withdrawal towards Gentherm, the Company, any of the Proceedings Courts or any other third party. For the avoidance of doubt, the Trustee shall only be entitled to release the Declarations
of Withdrawal and the Settlement Agreement as set forth in the Trustee Agreement. 

 6. 

Confidentiality 
  

	6.1	The Parties mutually undertake to keep Confidential Information secret and confidential vis-à-vis any third party, except that Confidential Information may be
disclosed: 

  

	 	(a)	to persons affiliated with a Party and its officers, directors, employees and to professional advisers who have a need to know such information, so long as such persons
have been made aware of the confidential nature of the Confidential Information and have agreed to be bound by the terms of this Section 6; or 

  

	 	(b)	 where requested or required by any court of competent jurisdiction or any competent judicial, governmental, supervisory or regulatory body or where
required by the rules of any stock exchange, regulation or law, but only after giving written notice of such required disclosure to the other 

  
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Parties (except that the Parties expressly acknowledge that the Company, Gentherm Inc., Balaton and/or Purchaser are required or considers to be required under applicable law to publish
respectively disclose the content of the Balaton Documentation and/or the Trustee Agreement and no prior notice shall be required in such regard); or 

  

	 	(c)	where disclosure is required in order for a Party to honor or enforce any provision of the Balaton Documentation and/or the Trustee Agreement; or

  

	 	(d)	with the prior written consent of all of the other Parties. 

  

	6.2	No press releases or other public announcement concerning the transactions contemplated by the Balaton Documentation and/or the Trustee Agreement shall be made by any
Party unless the form and text of such announcement shall first have been approved by Gentherm Inc. and Balaton except that (a) if that Party is required by law or by applicable stock exchange regulations to make an announcement, the
aforementioned approval requirement shall not apply and (b) Gentherm shall be permitted to issue a press release concerning the transactions contemplated by the Balaton Documentation and/or the Trustee Agreement, as attached hereto as
Annex 6.2, and (c) Balaton shall be permitted to issue an ad-hoc release concerning the transactions contemplated by the Balaton Documentation and/or the Trustee Agreement. 

 

	6.3	The Parties are aware that the publication of this Agreement, the Balaton Documentation and the Trustee Agreement by the Company in their original language and with a
translation into German language of each of the agreements part of the Balaton Documentation and the Trust Agreement in the Federal Gazette (Bundesanzeiger) shall be a condition precedent to the effectiveness of this Agreement.

 7. 
 Termination 
  

	7.1	Prior to Closing, this Agreement may be terminated by written notice: 

  

	 	(a)	at any time by mutual agreement of Gentherm Inc. and Balaton; Purchaser hereby acknowledges that such mutual agreement shall also be binding for Purchaser;

  

	 	(b)	by Gentherm Inc. or Balaton at any time on or ten days after signing of the Trustee Agreement if the Closing has not taken place by such date; 

 

	 	(c)	by Gentherm Inc. if Balaton is in material breach of any obligation under the Balaton Documentation and/or the Trustee Agreement that is incurable or has not been cured
within five Business Days following written notice by Gentherm Inc.; or 

  

	 	(d)	 by Balaton if any of Gentherm Inc or the Purchaser is in material breach of 

  
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any obligation under the Balaton Documentation and/or the Trustee Agreement that is incurable or has not been cured within five Business Days following written notice by Balaton to Gentherm Inc.

  

	7.2	Section 6 of this Agreement shall apply and shall continue to apply and be in full force following termination of this Agreement. Gentherm Inc. and the Purchaser
each undertake to use reasonable efforts to ensure that the Company does not disclose any Confidential Information to any court which is competent for disputes between the Company and Balaton or any of its affiliated companies at the moment or in
the future, unless Closing has occurred. This Section 7.2 of this Agreement shall continue to apply following termination of this Agreement. Gentherm Inc. is fully responsible for any misuse or breach of the confidentiality by the Company and
shall indemnify Balaton for any damages resulting thereof. 

 8. 

Notices; Accounts 
  

	8.1	All declarations, notices or other communications under the Balaton Documentation (“Notice”) shall be in writing and in the English language and
delivered by hand, by courier, by facsimile or scanned letter transmitted by email to the person at the addresses set forth in Section 8.2, or such other addresses as may be designated by the respective Party to the other Parties in the same
manner. 

  

	8.2	Any Notice to be given under or in connection with the Balaton Documentation shall be addressed as follows: 

 

	 	(a)	If directed to Balaton: 

  

	 	    	Deutsche Balaton AG, Attn: Jens Jüttner, Ziegelhäuser Landstraße 1 69120 Heidelberg, Fax +49 62 21 6 49 24 24, e-mail: juettner@deutsche-balaton.de and
flick@deutsche-balaton.de 

  

	 	(b)	If directed to Purchaser or Gentherm Inc.: 

  

	 	    	Gentherm Europe GmbH and Gentherm Incorporated, Attn: Daniel R. Coker, 21680 Haggerty Road, Suite 101, Northville, Michigan 48167, United States of America, Fax +1 248
504 0500, e-mail: dcoker@gentherm.com 

  

	 	    	with a copy to: Dr. Peter Memminger, Milbank, Tweed, Hadley & McCloy LLP, Taunusanlage 15, 60325 Frankfurt am Main, Fax +49 (0) 69 71914 3500,
e-mail: pmemminger@milbank.com 

  

	8.3	Each Party shall communicate any change of its respective address as soon as possible in writing to the respective other Parties. Until such communication, the address
as hitherto shall be relevant. 

  
 14 

	8.4	The receipt of copies of Notices by a Party’s advisor shall not constitute or substitute the receipt of such Notices by the Party itself. 

 

	8.5	Unless Balaton in writing informs Gentherm and the Trustee otherwise, the Cash Consideration shall be transferred to the account to be communicated to the Trustee (the
“Balaton Cash Account”). 

 9. 

Choice of Law, Venue 
  

	9.1	The Balaton Documentation, excluding the Balaton Rights Agreement and the Registration Rights Agreement, shall be governed by and construed in all respects in
accordance with the laws of the Federal Republic of Germany with the exception of (a) its conflict of laws provisions and (b) the rules of the Vienna Convention for Sale of Goods dated April 11, 1980, unless explicitly provided
otherwise. The Balaton Rights Agreement shall be governed by Michigan, United States law as set forth therein, the Registration Rights Agreement shall be governed by the laws of New York, New York, United States, as set forth therein.

  

	9.2	The courts of Frankfurt am Main, Germany, have exclusive jurisdiction to settle any dispute arising out of or in connection with the Balaton Documentation, excluding
any dispute arising under the Balaton Rights Agreement and the Registration Rights Agreement. For the Balaton Rights Agreement the courts in Oakland County, Michigan, United States shall have exclusive jurisdiction. For the Registration Rights
Agreement the Federal Court in New York, New York, United States shall have exclusive jurisdiction. 

 10.

 Interpretation, Formalities, Severability 

 

	10.1	Capitalized terms are defined within the Balaton Documentation and such definitions shall apply to each and every use of such terms within the Balaton Documentation.

  

	10.2	In case of doubt, the meaning of the German expressions used in the Balaton Documentation shall prevail over the meaning of the English expressions to which they
relate. The foregoing shall not apply to the Balaton Rights Agreement and the Registration Rights Agreement. 

  

	10.3	A reference to any agreement of the Balaton Documentation implies reference to all annexes included in such agreement. 

 

	10.4	 A Party’s failure or delay to insist on strict performance of any provision of the Balaton Documentation or exercise any power, right or remedy
hereunder shall not operate as or be deemed to be a waiver thereof or of any right or remedy for breach of a like or different nature nor shall any single or any partial exercise of

  
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any power, right or remedy preclude its further exercise or the exercise of any other power, right or remedy. 

 

	10.5	Changes, amendments and waivers to the Balaton Documentation shall be valid only if made in writing and must be signed by all Parties to be effective. This shall also
apply to amendments of this provision. 

  

	10.6	In the event that any agreement or any provision of the Balaton Documentation shall be or become invalid or unenforceable or if the Balaton Documentation should show a
gap, this shall not affect the validity of the remaining provisions of the Balaton Documentation. In any such case, such valid and enforceable provision shall apply which the parties would have agreed upon in the light of the economic purpose
pursued with this Balaton Documentation, had they considered the matter when executing the Balaton Documentation. 

11. 

Miscellaneous 
  

	11.1	Except as otherwise stated in the Balaton Documentation, all payments under or in connection with the Balaton Documentation shall be made free of all taxes, bank
charges and other deductions by wire transfer of immediately available funds, value as of the relevant due date. 

  

	11.2	Except as otherwise stated in the Balaton Documentation, the Parties shall not be entitled to exercise any right of set-off or retention right with respect to any
payment or action to be made by them under the Balaton Documentation unless their claim is finally decided by a final court judgment or arbitration award. 

  

	11.3	Each of the Parties hereto shall pay their own costs and expenses in relation to the preparation, execution and carrying into effect of the Balaton Documentation.

  

	11.4	Except for the rights and claims of Gentherm Inc. towards Balaton under Section 4 and 5 of the Settlement Agreement, which Gentherm Inc. may assign to any of its
subsidiaries, and except as otherwise provided herein or in the Registration Rights Agreement, no Party shall be entitled to assign any rights or claims under the Balaton Documentation without the prior written approval of the other Parties.
However, if any right shall be or is assigned or any obligation is transferred or passes over to another person, in particular to the Company, such assignment or transfer has to be published in accordance with Section 149 German Stock
Corporation Act (AktG). Sections 11.6 and 11.7 of this Agreement shall apply accordingly. For the avoidance of doubt, Balaton is allowed to transfer all or part of the Gentherm Common Stock or other Gentherm shares to any third party or
affiliated company at any time without any publication other than applicable under US law and without approval of Gentherm Inc., the Purchaser or the Company. 

  
 16 

	11.5	Except as provided for in Section 2 of the Settlement Agreement and in Section 6 of this Agreement, none of the provisions of the Balaton Documentation shall
give rise to any rights of any third person not a Party. 

  

	11.6	The Parties acknowledge that for the effectiveness of this Agreement, the Company has to publish the complete wording of this Agreement, the Balaton Documentation and
the Trustee Agreement in the Federal Gazette (Bundesanzeiger) including German translations (the “Publication”) in compliance with sections 248a, 142, 149 German Stock Corporation Act (AktG). To the extent the
Publication is incomplete, all rights and obligations under this Agreement shall remain unaffected. Each Party hereby waives its rights (i) to reclaim any of the received performance, (ii) to exercise retention rights
(Zurückbehaltungsrechte), (iii) to exercise rights to refuse performance (Leistungsverweigerungsrecht) even if the performance was made pursuant to an ineffective agreement. 

 

	11.7	If the Publication pursuant to sections 248a, 142, 149 German Stock Corporation Act (AktG) is incomplete or omitted, Balaton is entitled to publish the Balaton
Documentation and the Trustee Agreement following a period of two weeks that has Balaton set the Company or Gentherm to arrange for the Publication. Gentherm has to indemnify Balaton for reasonable costs for such Publication.

  

	11.8	Gentherm hereby indemnifies (leistet Schadensersatz) Balaton and each of the shareholders of the Company against any damage as a result of an omitted, incomplete
or incorrect Publication. 

  

	11.9	Each of Gentherm Inc. and the Purchaser separately undertakes, for a period of four years from the date hereof, not to make a public statement critical of Balaton or
its subsidiaries or affiliates or any of their directors, officers, supervisory board members or employees, or take any other action likely to damage the reputation of such persons. The Parties each acknowledge and agree that money damages would not
be a sufficient remedy for any breach (or threatened breach) of the foregoing by Gentherm and that, in the event of any breach or threatened breach hereof, Balaton will be entitled to seek injunctive and other equitable relief from Gentherm Inc. or
the Purchaser as the case may be. 

  

	11.10	Balaton undertakes, for a period of four years from the date hereof, that neither it nor any of its affiliated companies within the meaning of Sect. 15 AktG or its or
their directors and officers, will make a public statement critical of Gentherm Inc. or its subsidiaries or affiliates or any of their directors, officers or employees, or take any other action likely to damage the reputation of such persons. The
Parties each acknowledge and agree that money damages would not be a sufficient remedy for any breach (or threatened breach) of the foregoing by Balaton and that, in the event of any breach or threatened breach hereof, Gentherm Inc. will be entitled
to seek injunctive and other equitable relief from Balaton. 

  
 17 

 [remainder of page intentionally blank] 

  
 18 

 SIGNATURE PAGE – FRAMEWORK AGREEMENT 

IN WITNESS WHEREOF, the Parties have caused this Framework Agreement to be signed by a duly authorized signatory thereof, all as of the
date first written above. 
  

	
	 Deutsche Balaton AG
  

/s/ Jens Jüttner

 

			
	 Gentherm Europe GmbH
  

/s/ Peter Memminger, as representative
 based on
a PoA
	 	 Gentherm Incorporated
  

/s/ Peter Memminger, as representative
 based on
a PoA

 Annex P.14 – Executed Trustee Agreement 
 [See the executed Trustee Agreement which is part of this publication.] 

 Annex 2 – Draft of Registration Rights Agreement 

[See the executed Registration Rights Agreement which (i) reflects an executed version of the draft attached to this agreement as Annex 2 and
(ii) is part of this publication.] 

 Annex 3 – Draft of Settlement Agreement 
 [See the executed Settlement Agreement which (i) reflects an executed version of the draft attached to this agreement as Annex 3 and (ii) is part of this publication.] 

 Annex 4 – Draft of SPA 
 [See the executed SPA which (i) reflects an executed version of the draft attached to this agreement as Annex 4 and (ii) is part of this publication.] 

 Annex 5 – Draft of Balaton Rights Agreement 

[See the executed Balaton Rights Agreement which (i) reflects an executed version of the draft attached to this agreement as Annex 5 and (ii) is
part of this publication.] 

 Annex 5.5 – Notification re. Waiver 

 

	To:	Deutsche Balaton AG, fax number 06221 6492424 

  

	To:	Gütt Olk Feldhaus, fax number 089 24 22 411—50 

  

	RE:	[NOTIFICATION REGARDING RECEIPT OF WAIVER] 

Please be aware that on [date] we have obtained the last oustanding indications of waiver or non-exercise of rights, from our holders of Gentherm
Inc.’s Series C Preferred Stock effectively waiving the rights such holders have to participate in the issuance of equity by Gentherm Inc. on the same basis as the equity issuance of Gentherm Inc. described in the Framework Agreement between
Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH dated [date]. 
 Yours faithfully, 

[Signature(s) for Gentherm Inc.] 

 Annex 6.2 – Press Release Gentherm 

 
 

 
 NEWS RELEASE for February 15, 2013 

	Contact:	Allen & Caron Inc 

	    	Jill Bertotti (investors) 

	    	jill@allencaron.com 

	    	Len Hall (media) 

	    	len@allencaron.com 

	    	(949) 474-4300 

 GENTHERM
ANNOUNCES AGREEMENT TO ACQUIRE ALL W.E.T. SHARES 
 OWNED BY LARGEST MINORITY SHAREHOLDER 

Clears Path to Complete Integration of W.E.T. 
 NORTHVILLE, MICHIGAN, U.S.A. AND HEIDELBERG, GERMANY (February 15, 2013) . . . Gentherm Incorporated (NASDAQ-GS: THRM), the global market leader and a developer of innovative thermal management
technologies, today announced it has reached an agreement to acquire all the shares of W.E.T. Automotive Systems AG (W.E.T.) owned by Heidelberg, Germany-based Deutsche Balaton AG, the largest minority shareholder of W.E.T. The acquisition of the
shares by Gentherm is a major step in completing its acquisition of W.E.T., a publicly-traded German automotive thermal control and electronic components company. Deutsche Balaton remains indirectly a shareholder of W.E.T. via Gentherm. 

Upon completion of the transaction, Deutsche Balaton has agreed to withdraw its legal case opposing the registration of a Domination and Profit and Loss
Transfer Agreement (DPLTA), which, under German law, would essentially allow Gentherm and W.E.T. to be managed as one operational entity. 

Gentherm initially acquired a majority interest in W.E.T. in May 2011 to create a larger and more global company with a broad range of thermal products
and manufacturing capabilities. “The purchase of Deutsche Balaton’s shares will enable Gentherm to more completely achieve the synergies inherent in the combined companies,” noted Gentherm President and CEO Daniel R. Coker.

 The transaction involves the issuance of 3.3 million Gentherm common shares and payment of
approximately $7.5 million in cash in exchange for Deutsche Balaton’s 442,253 shares in W.E.T. (or 13.8 percent of the total outstanding W.E.T. shares). For a limited time, the holders of the Gentherm Series C Preferred Stock have the right to
purchase up to 30 percent, in the aggregate, of any common share offering. Such holders have all agreed to waive those rights in connection with the stock issuance to Balaton described above. For purposes of the transaction, the Gentherm shares are
valued at $13.00 per share, yielding an €85 per share valuation of the W.E.T. shares. Another minority shareholder in W.E.T. has agreed to simultaneously sell 23,044 W.E.T. shares to Gentherm for €85 per share in cash. The
acquisition of Deutsche Balaton’s shares and the shares held by such other minority shareholder will bring the total stock of W.E.T. held by Gentherm to 2,897,360 shares, representing approximately 90 percent of W.E.T.’s outstanding
shares. Closing of the transaction is expected to occur within a few days. 
 “The share purchase will allow Gentherm and W.E.T. to
continue the process of combining into one entity, integrating our broad array of capabilities and fulfilling the promise of the acquisition we have always envisioned,” Coker said. “Upon the registration of a DPLTA, we will be able to
accelerate this process and better serve our customers and generate greater shareholder value without the ongoing distraction of legal issues associated with the combination of the two companies.” 

“Upon closing of the transaction, Deutsche Balaton, which has proven to be a savvy investor in W.E.T., having held its position for 10 years, will
be a significant European investor in Gentherm,” added Coker. “This fits well with our strategy to expand our global shareholder base to include investors located outside the U.S., and we are pleased to have Deutsche Balaton as an equity
partner.” 
 “We have always believed in W.E.T. and recognized it as a very valuable asset in our portfolio. We are convinced that the
combination of Gentherm and W.E.T. will create an extraordinary value opportunity and are enthusiastic about being able to participate,” said Thomas Zours, Chairman of the Supervisory Board at Deutsche Balaton. 

In connection with the share purchase from Deutsche Balaton, Gentherm has agreed to offer to acquire, upon registration of the DPLTA, the remaining
shares of W.E.T. held by other minority shareholders. Such remaining shares represent approximately 10 percent of the total outstanding W.E.T. shares. Gentherm will offer a total payment of €85 per W.E.T. share, or an aggregate of
approximately $37 million in cash. Further details about the technical implementation of such offer will be announced shortly after the registration of the DPLTA. 
 Gentherm and W.E.T. intend to pursue swift registration of the DPLTAafter the transaction is consummated. 
 About Gentherm 

 Gentherm Incorporated (NASDAQ-GS:THRM) is a global developer and marketer of innovative thermal management
technologies for a broad range of heating and cooling and temperature control applications. Automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated seat
and steering wheel systems, cable systems and other electronic devices. The Company’s advanced technology team is developing more efficient materials for thermoelectrics and systems for waste heat recovery and electrical power generation for
the automotive market that may have far-reaching applications for consumer products as well as industrial and technology markets. Gentherm has more than 6,000 employees in facilities in the U.S., Germany, Mexico, China, Canada, Japan, England,
Korea, Malta, Hungary and the Ukraine. For more information, go to www.gentherm.com. 
 Certain matters discussed in this release are
forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company’s actual results to differ materially from its expectations in this release are risks that
sales may not significantly increase, additional financing, if necessary, may not be available, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its
common stock may be negatively affected by these and other factors. Please also refer to Gentherm’s Securities and Exchange Commission (SEC) filings and reports, including, but not limited to, its Form 10-Q for the period ended
September 30, 2012, and its Form 10-K for the year ended December 31, 2011; all of which are available free of charge on the SEC’s website at www.sec.gov. Gentherm expressly disclaims any intent or obligation to update any
forward-looking statements. 
 # # # #EX-10.2

 Exhibit 10.2 
 Trustee Agreement 
 (the “Agreement”) 

Milbank, Tweed, Hadley & McCloy LLP 
 Taunusanlage 15 
 60325 Frankfurt am Main, Germany 

 Trustee Agreement 

dated as of February 15, 2013 
 by and among 
  

	1.	Deutsche Balaton AG, a stock corporation organized under the laws of the Federal Republic of Germany, with its seat in Heidelberg and its business address at
Ziegelhäuser Landstraße 1, 69120 Heidelberg, and registered with the commercial register of the local court of Mannheim under HRB 338172 (“Balaton”) 

 

	2.	Gentherm Incorporated, a corporation organized under the laws of the State of Michigan, USA, with its seat in Northville, USA and its business address at
Northville, Michigan, 21680 Haggerty Road, Ste. 101, 48167 USA (“Gentherm Inc.”) 

  

	3.	Gentherm Europe GmbH, a limited liability company organized under the laws of the Federal Republic of Germany, with its seat in Augsburg and its business address
at Ulmer Straße 160B, 86156 Augsburg, and registered with the commercial register of the local court of Augsburg under HRB 25596 (“Purchaser”) 

- the parties under 2. and 3. collectively “Gentherm” – 

 

	4.	Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, with business address at Hackenstraße 5, 80331 Munich (“Trustee”)

 - Balaton, Gentherm Inc., Purchaser and Trustee each a “Party” and, 

collectively, the “Parties” - 

  
 2 

 Table of Contents 

 

					
	 1. Definitions
	  	 	7	  
	 2. Appointment of Trustee
	  	 	9	  
	 3. Treatment during Escrow Period
	  	 	10	  
	 4. Deposit and Receipt of Escrow Amount, the Shares and Escrow Items
	  	 	10	  
	 5. Release of Escrow Amount, Shares and Escrow Items
	  	 	10	  
	 6. Fees and Expenses of Trustee
	  	 	13	  
	 7. Liability of Trustee
	  	 	13	  
	 8. Variation and Waiver
	  	 	14	  
	 9. Notices
	  	 	15	  
	 10. Replacement and Retirement of Trustee
	  	 	15	  
	 11. Termination
	  	 	16	  
	 12. Confidentiality
	  	 	16	  
	 13. Governing Law and Jurisdiction
	  	 	16	  
	 14. Miscellaneous
	  	 	17	  

  
 3 

 List of Annexes 

 

			
	 	 
	 Annex

 
	  	 Topic

 

	 	 
	 Annex P.12

 
	  	Draft of Declarations of Withdrawal
	 	 
	 Annex 4.2

 
	  	Draft of Receipt Notice
	 	 
	 Annex 5.1.1

 
	  	Joint Release Instruction re. Declarations of Withdrawal
	 	 
	 Annex 5.1.3

 
	  	Draft Notification re. Waiver
	 	 
	 Annex 5.2.1

 
	  	Joint Release Instruction re. Escrow Amount
	 	 
	 Annex 5.3.1

 
	  	Joint Release Instruction re. Shares
	 	 
	 Annex 5.4.1

 
	  	Joint Release Instruction re. Share Certificate

  
 4 

 Preamble 
  

	P.1	Whereas, Gentherm Inc. holds all shares in Purchaser. 

  

	P.2	Whereas, Purchaser holds 2,429,403 of the bearer shares with no par value (auf den Inhaber lautende Aktien ohne Nennbetrag (Stückaktien)) in
W.E.T. Automotive Systems A.G., a stock corporation organized under the laws of the Federal Republic of Germany with its seat in Odelzhausen, its business address at Rudolf-Diesel-Str. 12, 85235 Odelzhausen and registered with the commercial
register of the local court of Munich under HRB 119793 (the “Company”) and Gentherm Inc. holds 2,660 of the bearer shares with no par value (auf den Inhaber lautende Aktien ohne Nennbetrag (Stückaktien)) in the
Company. The Company has a registered share capital of EUR 9,600,000 divided into 3,200,000 bearer shares with no par value (each a “W.E.T. Share”). 

 

	P.3	Whereas, Balaton holds 442,253 of the W.E.T. Shares (the “Balaton-Shares”), which are booked on deposit accounts to the benefit of Balaton.

  

	P.4	Whereas, Purchaser (then named Amerigon Europe GmbH) as controlling entity and the Company as controlled entity entered into a domination and profit and loss
transfer agreement on June 16, 2011 (the “DPLTA”). 

  

	P.5	Whereas, the annual shareholders’ meeting of the Company dated August 16, 2011 (the “2011 Shareholders’ Meeting”) has adopted,
inter alia, the following resolutions: 

  

	 	-	 	 resolutions under agenda item 3 and agenda item 4 on the discharge of the members of the executive board of the Company and the members of the advisory
board of the Company, respectively, for fiscal year 2010 (the “Discharge Resolutions 2011”), and 

  

	 	-	 	 resolution under agenda item 6 on the approval of the DPLTA (the “DPLTA Approval Resolution”). 

 

	P.6	Whereas, the annual shareholders’ meeting of the Company dated June 14, 2012 (the “2012 Shareholders’ Meeting”) has adopted,
inter alia, the following resolutions: 

  

	 	-	 	 resolutions under agenda item 3 and agenda item 4 on the discharge of the members of the executive board of the Company and the members of the advisory
board of the Company, respectively, for fiscal year 2011 (the “Discharge Resolutions 2012”), and 

  

	 	-	 	 resolution under agenda item 6 on the confirmation pursuant to Sec. 244 German Stock Corporations Act (AktG) of the DPLTA Approval
Resolution (the “Confirmatory Resolution”). 

  
 5 

	P.7	Whereas, following the 2011 Shareholders’ Meeting, Balaton filed a challenge and voidance action (Anfechtungs- und Nichtigkeitsklage) with the
Regional Court Munich I (Landgericht München I) (file no. 5 HK O 20488/11) against the Company with respect to the Discharge Resolutions 2011 and the DPLTA Approval Resolution (the “Balaton Court Action 2011”).

  

	P.8	Whereas, following the 2012 Shareholders’ Meeting, Balaton filed a challenge and voidance action (Anfechtungs- und Nichtigkeitsklage) with the
Regional Court Munich I (Landgericht München I) (file no. 5 HK O 14081/12) against the Company with respect to the Discharge Resolutions 2012 and the Confirmatory Resolution (the “Balaton Court Action
2012”). 

  

	P.9	Whereas, Balaton, furthermore, filed two applications with the Regional Court Munich I (Landgericht München I) (file no. 17 HK O 27730/11
and 17 HK O 16045/12) AktG against the Company each regarding the appointment of a special auditor pursuant to Sec. 142 para. 2 German Stock Corporations Act (AktG) (the “Balaton Court Applications” and, together
with the Balaton Court Action 2011 and the Balaton Court Action 2012, the “Balaton Actions”). 

  

	P.10	Whereas, through separate agreements Balaton and Gentherm intend to settle the Balaton Actions and Purchaser desires to acquire, and Balaton is willing to
exchange the Balaton-Shares against shares in Gentherm Inc. as ultimate parent company of the Company and a cash payment . as consideration (the “Balaton Documentation”). The Balaton Documentation includes (i) an agreement
setting out the structure of the Balaton Documentation as well as the steps to be taken for its consummation (the “Framework Agreement”), (ii) an agreement governing the exchange and transfer of the Balaton-Shares against
shares in Gentherm Inc. and cash payment as consideration (the “SPA”), (iii) an agreement providing for certain obligations of Balaton as shareholder of Gentherm Inc. (the “Balaton Rights Agreement”) and
(iv) an agreement providing for the settlement of the Balaton Actions (the “Settlement Agreement”) and an agreement governing the registration and resale of Gentherm shares (the “Registration Rights
Agreement”). 

  

	P.11	Whereas, the consummation of the Framework Agreement requires the involvement of a trustee and, hence, this Agreement is entered into by the Parties. The rights
and obligations of Trustee are exclusively governed by this Agreement and not by the Balaton Documentation. 

  

	P.12	 Whereas, Trustee will receive to keep in escrow (i) a payment from the Purchaser, the amount of which shall not fall short of
EUR 6,500,000.00, (the “Escrow Amount”), (ii) a physical share certificate from Gentherm Inc. representing 3,300,000 shares of Gentherm’s shares of common stock (the “Share Certificate”) a sample of
which has been exchanged before the date hereof, (iii) the Balaton-Shares and (iv) originals of the signed declarations of withdrawal for each Balaton Action drafts of which are attached hereto as Annex P.12 (the

  
 6 

	 	
“Declarations of Withdrawal” and the Declarations of Withdrawal together with the Share Certificate, the “Escrow Items”). 

Now, therefore, it is agreed as follows: 
 1. 
 Definitions 

“2011 Shareholders’ Meeting” is defined in Section P.5. 
 “2012 Shareholders’ Meeting” is defined in Section P.6. 

“Agreement” is defined in the Recitals. 
 “Balaton” is defined in the Recitals. 
 “Balaton Actions” is
defined in Section P.9. 
 “Balaton Court Action 2011” is defined in Section P.7. 

“Balaton Court Action 2012” is defined in Section P.8. 
 “Balaton Court Applications” is defined in Section P.9. 
 “Balaton
Documentation” is defined in Section P.10. 
 “Balaton Rights Agreement” is defined in Section P.10. 

“Balaton-Shares” is defined in P.3. 
 “Business Day” shall mean a day on which the banks are open to the public for regular business in both Frankfurt am Main, Germany and Michigan, United States. 

“Cash Consideration” shall be the amount which will be notified by Balaton and Gentherm in writing to the Trustee on the day of signing
of the SPA at the latest. 
 “Company” is defined in Section P.2. 
 “Confidential Information” shall mean any information relating to the Balaton Documentation and/or this Agreement, the nature and details of the negotiations that preceded the execution
of this Agreement, and information shared by the Parties with each other concerning their respective businesses at any time prior to execution of this Agreement, in whatever form, and includes information given orally and in any document, electronic
file or any other way of representing or recording information which contains or is derived or copied from such information, except to the extent that the relevant facts (i) are or become public knowledge other than as a result of any breach of
Section 13 of this Agreement, (ii) are or were known by the relevant person before the date the information is or was disclosed to it or (iii) are lawfully obtained after that date. 

“Confirmatory Resolution” is defined in Section P.6. 
 “Declarations of Withdrawal” is defined in Section P.12. 

  
 7 

 “Discharge Resolutions 2011” is defined in Section P.5. 

“Discharge Resolutions 2012” is defined in Section P.6. 
 “DPLTA” is defined in Section P.4. 
 “DPLTA Approval Resolution”
is defined in Section P.5. 
 “Escrow Accounts” shall mean the Trustee Account and the Trustee’s Deposit Account
collectively. 
 “Escrow Amount” is defined in Section P.12. 
 “Escrow Items” is defined in Section P.12. 
 “Extended Release
Actions” is defined in Section 5.2.2. 
 “Framework Agreement” is defined in Section P.10. 

“Gentherm” is defined in the Recitals. 
 “Gentherm Inc.” is defined in the Recitals. 
 “Gentherm
Representative” shall mean an attorney-at-law of Milbank, Tweed, Hadley & McCloy LLP with business address Taunusanlage 15, 60323 Frankfurt or Maximilianstrasse 15, 80539 Munich, or any person nominated by Gentherm Inc. prior to
the satisfaction of the Release Actions. 
 “Nominated Purchaser Account” shall mean Purchaser’s bank account which was
communicated in writing by Purchaser to Trustee. 
 “Nominated Purchaser Deposit Account” shall mean Purchaser’s deposit
account which was communicated in writing by Purchaser to Trustee. 
 “Nominated Balaton Account” shall mean the bank account
of Balaton communicated in writing by Balaton to Trustee. 
 “Nominated Balaton Deposit Account” shall mean the deposit account
of Balaton as communicated in writing by Balaton to Trustee. 
 “Notice” is defined in Section 9.1. 

“Parties” is defined in the Recitals. 
 “Party” is defined in the Recitals. 
 “Purchaser” is defined in
the Recitals. 
 “Proceedings Courts” shall mean the district court Munich I and the Higher Regional Court of Munich.

 “Receipt Confirmations” is defined in Section 5.2.2. 
 “Registration Rights Agreement” is defined in Section P.10. 
 “Release
Actions” is defined in Section 5.1.2. 

  
 8 

 “Settlement Agreement” is defined in P.10. 

“Share Certificate” is defined in Section P.12. 
 “SPA” is defined in Section P.10. 
 “Trustee” is defined in the
Recitals. 
 “Trustee Account” shall mean the account held by the Trustee at Bethmann Bank AG, Munich, sort code
501 203 83, account no. 224 0455, IBAN DE82 5012 0383 0002 2404 55 and BIC DELB DE 33XXX or any other bank account of the Trustee which was communicated by Trustee to Balaton and Gentherm. 

“Trustee’s Deposit Account” shall mean the deposit account held by the Trustee at Bethmann Bank AG, Munich, sort code
501 203 83 and deposit account no. 224 045 001 or any other Trustee’s deposit account which was communicated by Trustee to Balaton and Gentherm. 
 “W.E.T. Share” is defined in Section P.2. 
 2. 

Appointment of Trustee 
  

	2.1	Balaton and Gentherm hereby jointly appoint Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten as Trustee (Treuhänder) for the purposes of this
Agreement and Trustee hereby accepts such appointment. For the purposes of this Agreement and as set forth further in Section 2.2 the Parties agree that (i) Trustee shall establish each of the Escrow Accounts in its own name and that each
of the Escrow Accounts shall be kept for the account of Balaton and Purchaser and (ii) Trustee shall keep the Escrow Items for the account of Balaton and Gentherm. Trustee agrees to hold and release any monies and/or shares deposited into the
Escrow Accounts (or any one of them) and/or the Escrow Items in accordance with the terms of this Agreement. 

  

	2.2	Upon deposit of the Balaton-Shares into the Trustee’s Deposit Account or delivery of the Escrow Items to Trustee (or in each case any portion thereof) Trustee
shall in each case become possessor (Besitzer), but not legal owner (Eigentümer) of the Balaton-Shares or the Escrow Items (or in each case any portion thereof) respectively. Upon request of Balaton, Trustee shall confirm in
writing to Balaton at any time that it holds the Balaton-Shares as trustee for Balaton as long as the release of the Balaton-Shares pursuant to Section 5.3 of this Trustee Agreement has not occurred. 

 

	2.3	The rights and obligations of Trustee shall be exclusively governed by and construed in accordance with the provisions of this Agreement without recourse to
Sections 675 para. 1, 611 et seqq. (Dienstvertrag, der eine Geschäftsbesorgung zum Gegenstand hat) and Sections 662 et seqq. (Auftrag) of the German Civil Code (Bürgerliches Gesetzbuch).

  
 9 

 3. 
 Treatment during Escrow Period 
  

	3.1	The Escrow Amount, the Balaton-Shares and the Escrow Items shall be deposited with Trustee on terms that Trustee may not withhold (zurückbehalten), set-off
(aufrechnen) or otherwise net (verrechnen) the Escrow Amount, the Balaton-Shares or Escrow Items or any portion thereof with regard to any charges or any other claims or defense Trustee may have against Balaton or Gentherm.

  

	3.2	Trustee shall not release the Escrow Amount, the Balaton-Shares or Escrow Items or any portion thereof, except as expressly provided for in this Agreement.

  

	3.3	None of the Parties shall seek, request or otherwise call or claim for the release of the Escrow Amount, the Balaton-Shares or the Escrow Items or any portion thereof
other than in accordance with the terms and conditions of this Agreement. 

  

	3.4	The Escrow Accounts shall be non-interest bearing account(s). 

 4. 
 Deposit and Receipt of Escrow Amount, the Balaton-Shares and Escrow
Items 
  

	4.1	Balaton, Gentherm Inc. or Purchaser, as the case may be, shall notify the Trustee immediately on (i) the deposit of the Escrow Amount into the Trustee Account,
(ii) the deposit of the Balaton-Shares into the Trustee’s Deposit Account or (iii) the delivery of the Escrow Items to the Trustee (or in each case any portion thereof). 

 

	4.2	Trustee shall deliver to Balaton and Gentherm notices materially in the form contained in Annex 4.2 as soon as practicable following (i) the deposit
of the Escrow Amount into the Trustee Account, (ii) the deposit of the Balaton-Shares into the Trustee’s Deposit Account and (iii) the delivery of the Escrow Items to the Trustee (or in each case any portion thereof).

 5. 
 Release of Escrow Amount, Balaton-Shares and Escrow Items 
  

	5.1	Trustee shall apply the Declarations of Withdrawal in accordance with the terms of this Section 5.1 in each case and shall release any of the Declarations of
Withdrawal only as follows: 

  

	 	5.1.1	in accordance with corresponding (übereinstimmenden) written instructions by Balaton and Gentherm Inc., in the form attached hereto as Annex
5.1.1; or 

  
 10 

	5.1.2	to the Proceeding Courts in reasonable time, upon fulfillment of all of the following actions (the “Release Actions”): 

 

	 	(a)	Gentherm and Balaton having signed the Settlement Agreement, whereas the Trustee shall not exchange or make available to Gentherm or Balaton or any third party the
signature pages of the Settlement Agreement and the signed Declarations of Withdrawal, and, therefore, the Settlement Agreement shall not become effective, prior to the confirmation by the Trustee that it has received the Share Certificate from
Gentherm; 

  

	 	(b)	Gentherm and Balaton having signed the SPA and the Registration Rights Agreement; 

 

	 	(c)	Gentherm and Balaton having signed the Balaton Rights Agreement; 

 in each case of (a)-(c) as notified to the Trustee in writing by Gentherm Representative and Balaton; 
  

	 	(d)	providing of a confirmation by Gentherm Representative and Balaton relating to the publication of the Agreement, the Framework Agreement, the Settlement Agreement, the
SPA, the Registration Rights Agreement, and the Balaton Rights Agreement in their original language and as translations into the German language of each of the afore mentioned agreements by the Company in the Federal Gazette (Bundesanzeiger);

  

	 	(e)	Gentherm Inc. having placed the Share Certificate with Trustee; 

  

	 	(f)	Purchaser having paid the Escrow Amount to the Trustee Account; 

  

	 	(g)	the Balaton-Shares having been booked into the Trustee’s Deposit Account; however, Balaton shall transfer the Balaton-Shares only upon notice of the Trustee that
Gentherm has placed the Share Certificate with Trustee and that the Escrow Amount was paid to the Trustee Account; and 

  

	 	(h)	Balaton having delivered the Declarations of Withdrawal to Trustee; or 

  

	5.1.3	to Balaton if (i) following ten days of signing this Agreement (x) Gentherm has not signed all of the agreements mentioned in 5.1.2 (a)-(c) or
(y) the Release Actions in 5.1.2 (d), (e) and (f) have not been fulfilled or (z) Gentherm Inc. has not presented the notice attached hereto in draft form as Annex 5.1.3 to Trustee and (ii) Balaton has requested
the release from Trustee; or 

  

	5.1.4	to Balaton if Section 5.2.3, 5.3.3 or 5.4.3 applies. 

  
 11 

	5.2	Trustee shall apply such portion of the Escrow Amount equal to the Cash Consideration from the Trustee Account in accordance with the terms of this Section 5.2 in
each case and shall release such amount from the Trustee Account only as follows: 

  

	 	5.2.1	in accordance with corresponding (übereinstimmenden) written instructions by Balaton and Purchaser, in the form attached hereto as Annex
5.2.1; or 

  

	 	5.2.2	to Balaton and the Nominated Balaton Account upon (i) fulfillment of all of the Release Actions and (ii) presentation of proof of submission of the
Declarations of Withdrawal to the Proceedings Courts in the form of copies of the Declarations of Withdrawal postmarked (mit dem Eingangsstempel versehen) by the Proceedings Courts (the “Receipt Confirmations”) (such Receipt
Confirmations together with the Release Actions, the “Extended Release Actions”) received by the Trustee; or 

  

	 	5.2.3	to Purchaser and to the Nominated Purchaser Account if (i) following ten days of signing of this Agreement (w) Balaton has not signed all of the agreements
mentioned in 5.1.2 (a)-(c) or (x) the Release Actions in 5.1.2 (g) and (h) have not been fulfilled or (y) Gentherm Inc. has not presented the notice attached hereto in draft form as Annex 5.1.3 to Trustee and
(ii) Purchaser has requested the release from Trustee; or 

  

	 	5.2.4	to Purchaser and to the Nominated Purchaser Account if Section 5.1.3, 5.3.3 or 5.4.3 applies 

 

	5.3	Trustee shall apply the Balaton-Shares in accordance with the terms of this Section 5.3 in each case and shall release any Balaton-Shares from the Trustee’s
Deposit Account only as follows: 

  

	 	5.3.1	in accordance with corresponding (übereinstimmenden) written instructions by Balaton and Purchaser, in the form attached hereto as Annex
5.3.1; or 

  

	 	5.3.2	to Purchaser and to the Nominated Purchaser Deposit Account upon fulfillment of all of the Extended Release Actions; or 

 

	 	5.3.3	to Balaton and to the Nominated Balaton Deposit Account if (i) by following ten days of this signing this Agreement (w) Gentherm has not signed all of the
agreements mentioned in 5.1.2 (a)-(c) or (x) the Release Actions in 5.1.2 (d), (e) and (f) have not been fulfilled or (y) Gentherm Inc. has not presented the notice attached hereto in draft form as Annex 5.1.3
to Trustee and (ii) Balaton has requested the release from Trustee; or 

  

	 	5.3.4	to Balaton and to the Nominated Balaton Deposit Account if Section 5.1.3, 5.2.3 or 5.4.3 applies. 

  
 12 

	5.4	Trustee shall apply or provide, as the case may be, the Share Certificate in accordance with the terms of this Section 5.4 in each case and shall release the Share
Certificate only as follows: 

  

	 	5.4.1	in accordance with corresponding (übereinstimmenden) written instructions by Balaton and Gentherm Inc., in the form attached hereto as Annex
5.4.1; or 

  

	 	5.4.2	to Balaton immediately upon fulfillment of all of the Extended Release Actions; or 

 

	 	5.4.3	to Gentherm Representative if (i) following ten days of signing this Agreement (w) Balaton has not signed all of the agreements mentioned in 5.1.2
(a)-(c) or (x) the Release Actions in 5.1.2 (g) and (h) have not been fulfilled or (y) Gentherm Inc. has not presented the notice attached hereto in draft form as Annex 5.1.3 to Trustee and (ii) Gentherm
Representative has requested the release from Trustee; or 

  

	 	5.4.4	to Gentherm Representative if Section 5.1.3, 5.2.3 or 5.3.3 applies. 

  

	5.5	Unless otherwise explicitly provided for in Sections 5.1 to 5.4, Trustee shall (i) release the Declarations of Withdrawal on the Business Day following the day of
fullfilment of the last of the Release Actions at the latest and (ii) instruct the payments and bookings out of the Escrow Accounts or release of the Share Certificate on the Business Day following the day of fulfillment of the last of the
Release Actions at the latest. 

  

	5.6	The Parties hereby agree that none of the Escrow Accounts or Escrow Items there under or in connection therewith may be pledged, provided as collateral in any other
way, sold, assigned or transferred. 

 6. 

Fees and Expenses of Trustee 
 The fees of Trustee for the negotiation and execution of this Agreement, as the case may be, the setting-up of the Escrow Accounts, the administration of the Escrow Accounts, the safekeeping of the Escrow
Items from time to time, the release of the Escrow Amount, the Balaton-Shares and/or the Escrow Items shall be an one-time fee of EUR 7,000.00 net and all reasonable expenses (including bank charges and fees incurring in connection with the
Escrow Accounts), in each case plus applicable VAT, payable by Gentherm Inc. within ten Business Days after the receipt of (i) the first notice pursuant to Section 5 hereof and (ii) respective invoice to Gentherm Inc. respectively.

 7. 
 Liability of Trustee 

  
 13 

	7.1	Trustee shall not be liable and shall bear no obligation or responsibility to any person for any action performed or omitted under or in connection with this Agreement,
in particular in respect of the operation of the Escrow Accounts, the application of the Escrow Amount or the Balaton-Shares and the safekeeping of the Escrow Items (or in each case any portion thereof), unless such liability arises as a result of
Trustee having failed to meet the standard of care of a prudent business man (Sorgfalt eines ordentlichen Kaufmanns) intentionally (vorsätzlich) or gross negligently (grob fahrlässig), it being understood that the
total liability of the Trustee under or in connection with this Agreement, to the extent legally permitted, shall in any event be limited to EUR 250,000.00. 

 

	7.2	Trustee shall be entitled to rely on, and shall be protected in acting upon, and shall be entitled to treat as genuine and as the document it purports to be, any
instruction letter, paper or other document furnished to it by Balaton and/or Purchaser, Gentherm Inc. and/or the Gentherm Representative believed by Trustee, acting reasonably, to be genuine and to have been signed and presented by the proper
person or persons. 

  

	7.3	Balaton and Gentherm, jointly and severally, shall indemnify and hold harmless Trustee and any of its partners and employees from and against any and all liabilities,
obligations, losses, damages, penalties, judgments, costs, expenses, actions or demands whatsoever (including any interest thereon) that may be imposed on or incurred by Trustee in connection with any action, claim or proceeding of any kind brought,
or threatened to be brought, against Trustee as a result of its acting hereunder regarding the Escrow Accounts or the Escrow Items, unless Trustee failed to meet the standard of care of a prudent business man intentionally or gross negligently with
respect to any such action. 

  

	7.4	Apart from the above, the Trustee shall be responsible for any voting rights notifications (Stimmrechtsmitteilungen) to the Company or the Federal Financial
Supervisory Authority (BaFin) for the Balaton-Shares booked in the Trustee’s Deposit Account pursuant to the German Securities Trading Act (WpHG). Neither Gentherm nor Balaton shall indemnify, reimburse or be liable for the
aforementioned obligation to be fulfilled by Trustee. 

 8. 

Variation and Waiver 
 No
variation of this Agreement (including this Section 8) shall be valid unless it is in writing and signed by or on behalf of each Party. A transmission by telefax shall be sufficient, while any other electronic transmission by email or
electronic form shall not be sufficient to comply with the written form requirement. The expression “variation” shall include any waiver, variation, supplement, deletion or replacement however effected. 

  
 14 

 9. 
 Notices 
  

	9.1	All declarations, notices or other communications under the Agreement (“Notice”) shall be in writing and in the English language and delivered by hand,
by courier, by facsimile or scanned letter transmitted by email to the person at the addresses set forth in Section 9.2, or such other addresses as may be designated by the respective Party to the other Parties in the same manner.

  

	9.2	Any Notice to be given under or in connection with the Agreement shall be addressed as follows: 

 

	 	(a)	If directed to Balaton: 

Deutsche Balaton AG, Attn: Jens Jüttner, Ziegelhäuser Landstraße 1 69120 Heidelberg, Fax +49 62 21 6 49 24 24, e-mail:
juettner@deutsche-balaton.de and flick@deutsche-balaton.de 
  

	 	(b)	If directed to Purchaser or Gentherm Inc.: 

 Gentherm Europe GmbH and Gentherm Incorporated, Attn: Daniel R. Coker, 21680 Haggerty Road, Suite 101, Northville, Michigan 48167, United States of America, Fax +1 248 504 0500, e-mail:
dcoker@gentherm.com 
 with a copy to: Dr. Peter Memminger, Milbank, Tweed, Hadley & McCloy LLP, Taunusanlage 15,
60325 Frankfurt am Main, Fax +49 (0) 69 71914 3500, e-mail: pmemminger@milbank.com 
  

	 	(c)	If directed to Trustee: 

Dr. Sebastian Olk, at Hackenstraße 5, 80331 Munich, Fax +49 (0) 89 24 22 411 – 50, e-mail:
Sebastian.Olk@gof-partner.com 
 with a copy to: Dr. Tilmann Gütt, Hackenstraße 5, 80331 Munich, Fax +49
(0) 89 24 22 411 – 50, e-mail: Tilmann.Guett@gof-partner.com 
  

	9.3	Each Party shall communicate any change of its respective address as soon as possible in writing to the respective other Parties. Until such communication, the address
as hitherto shall be relevant. 

  

	9.4	The receipt of copies of Notices by a Party’s advisor shall not constitute or substitute the receipt of such Notices by the Party itself. 

10. 

Replacement and Retirement of Trustee 
  

	10.1	 Following a thirty days’ prior written notice of Trustee to Balaton and Gentherm, Trustee may appoint and transfer all (but not only parts) of the
Escrow Amount, the Balaton-Shares and the Escrow Items and assign his rights and obligations 

  
 15 

	 	
under and in connection with this Agreement to a replacement trustee (being a German notary or any other person reasonably acceptable to both Balaton and Gentherm) to hold the Escrow Amount, the
Balaton-Shares and the Escrow Items (but in each case not only portions thereof) on exactly the same terms as set out in this Agreement, subject always to such replacement trustee undertaking in full all of the obligations of Trustee under or
pursuant to this Agreement. The Parties agree that neither Balaton nor Gentherm shall have to make any payments in connection with any such replacement of Trustee. 

 

	10.2	Upon prior written notice of Balaton and Gentherm to Trustee, Balaton and Gentherm may jointly appoint a replacement Trustee and, in such case, Trustee will transfer
all (but not only parts) of the Escrow Amount, the Balaton-Shares and the Escrow Items and assign his rights and obligations under and in connection with this Agreement to such replacement trustee. 

 

	10.3	Following the transfer of all of the Escrow Amount, the Balaton-Shares and the Escrow Items to a replacement escrow agent in accordance with Section 10.1 or 10.2,
Trustee shall automatically be discharged from its obligations under this Agreement, provided, however, that (i) the obligations pursuant to the last sentence of Section 10.1 and (ii) Sections 6, 8, 9 and 12 through 14 shall
continue to have full force and effect. 

 11. 

Termination 
 This
Agreement shall terminate automatically and cease to have any further effect (other than in relation to accrued liabilities hereunder which shall survive such termination and Sections 6 through 14) upon release of (the last portion of) the Escrow
Amount, the Balaton-Shares and the Escrow Items pursuant to Section 5. 
 12. 

Confidentiality 
 The
Parties mutually agree that this Agreement shall be published pursuant to Section 149 German Stock Corporation Act (AktG) including a convenience translation into the German language in the Federal Gazette (Bundesanzeiger)
following signing of the Framework Agreement, the Settlement Agreement, the Balaton Rights Agreement and the SPA. 
 13.

 Governing Law and Jurisdiction 
  

	13.1	The Agreement shall be governed by and construed in all respects in accordance with the laws of the Federal Republic of Germany with the exception of (i) its
conflict of laws provisions and (ii) the rules of the Vienna Convention for Sale of Goods dated April 11, 1980. 

  
 16 

	13.2	To the extent legally permissible, the courts of Munich, Germany have exclusive jurisdiction to settle any dispute arising out of or in connection with the Agreement.

 14. 
 Miscellaneous 
  

	14.1	In case of doubt, the meaning of the German expressions shall prevail over the meaning of the English expressions to which they relate. 

 

	14.2	A Party’s failure or delay to insist on strict performance of any provision of this Agreement or exercise any power, right or remedy hereunder shall not operate as
or be deemed to be a waiver thereof or of any right or remedy for breach of a like or different nature nor shall any single or any partial exercise of any power, right or remedy preclude its further exercise or the exercise of any other power, right
or remedy. 

  

	14.3	In the event that any provision of this Agreement shall be or become invalid or unenforceable or if this Agreement should show a gap, this shall not affect the validity
of the remaining provisions of this Agreement. In any such case, such valid and enforceable provision shall apply which the Parties would have agreed upon in the light of the economic purpose pursued with this Agreement, had they considered the
matter when executing this Agreement. 

  

	14.4	Except as otherwise stated in the Agreement, all payments under or in connection with the Agreement shall be made free of all taxes, bank charges and other deductions
by wire transfer of immediately available funds, value as of the relevant due date. 

  

	14.5	Except as otherwise stated in the Agreement, the Parties shall not be entitled to exercise any right of set-off or retention right with respect to any payment or action
to be made by them under the Agreement unless their claim is finally decided by a final court judgment or arbitration award. 

  

	14.6	Except as otherwise stated in the Agreement, each of the Parties hereto shall pay their own costs and expenses in relation to the preparation, execution and carrying
into effect of the Agreement. 

  

	14.7	Except as otherwise stated in the Agreement, no Party shall be entitled to assign any rights or claims under the Agreement without the prior written approval of the
other Parties. 

  

	14.8	Except as provided for in Section 14 for the Company, none of the provisions of this Agreement shall give rise to any rights of any third person not a Party.

  
 17 

 [remainder of page intentionally blank] 

  
 18 

 SIGNATURE PAGE – TRUSTEE AGREEMENT 

Deutsche Balaton AG 
 /s/ Jens
Jüttner 
  

			
	 Gentherm Europe GmbH
  

/s/ Peter Memminger, as representative
 based on
a PoA
	 	 Gentherm Incorporated
  

/s/ Peter Memminger, as representative
 based on
a PoA

		
	 Gütt Olk Feldhaus Partnerschaft von
 Rechtsanwälten
  

/s/ Sebastian Olk
	 	

 Annex P.12 – Draft of Declarations of Withdrawal 

Landgericht München I 
 80316 München

 18.02.2013 st-ri 

Vorab per Telefax: 5597-3003 

Az.: 5 HK O 14081/12 
 In Sachen

 Deutsche Balaton Aktiengesellschaft 
 Ziegelhäuser Landstr. 1, 69120 Heidelberg, 
 vertr.d.d. Vorstand, Herren Rolf Birkert und Jens
Jüttner 
 - Klägerin - 
 Prozessbevollmächtigter: Rechtsanwalt Prof. Dr. Klaus Steiner 

                         
                   Wörthseestr. 25, 82237 Wörthsee 
 g e g e n 
 W.E.T. Automative Systems AG 

Rudolf-Diesel-Str. 12, 85235 Odelzhausen, 

vertr.d.d. Vorstand, Herren Caspar Baumhauer, Thomas Liedl und Frithjof Oldorff und 
 vertr.d.d. Aufsichtsrat, Herren Dr. Franz Scherer, Dr. Walter Hasselkus und Dr. Peter Paul Moll 
 - Beklagte – 
 Prozessbevollmächtigte: Rechtsanwälte P+P Pöllath +
Partners 

                         
                   Kardinal-Faulhaber-Str. 10, 80333 München 
 wegen Anfechtung 
 erkläre ich namens der Klägerin: 

Die Klägerin nimmt ihre Klage vom 11.07.2012 hiermit zurück. 
 Prof. Dr. Klaus Steiner 
 Rechtsanwalt 

 Annex P.12 – Draft of Declarations of Withdrawal 

Landgericht München I 
 80316 München

 18.02.2013 st-ri 

Vorab per Telefax: 5597-3003 

Az.: 17 HK O 16045/12 
 In Sachen

 Deutsche Balaton Aktiengesellschaft 
 Ziegelhäuser Landstr. 1, 69120 Heidelberg, 
 vertr.d.d. Vorstand, Herren Rolf Birkert und Jens
Jüttner 
 - Antragstellerin - 
 Prozessbevollmächtigter: Rechtsanwalt Prof. Dr. Klaus Steiner 

                         
                   Wörthseestr. 25, 82237 Wörthsee 
 g e g e n 
 W.E.T. Automative Systems AG 

Rudolf-Diesel-Str. 12, 85235 Odelzhausen, 

vertr.d.d. Vorstand, Herren Caspar Baumhauer, Thomas Liedl und Frithjof Oldorff 
 vertr.d.d. Aufsichtsrat, Herren Dr. Franz Scherer, Dr. Walter Hasselkus und Dr. Peter Paul Moll 
 - Antragsgegnerin – 
 Prozessbevollmächtigte: Rechtsanwälte P+P Pöllath
+ Partners 

                         
                   Kardinal-Faulhaber-Str. 10, 80333 München 
 wegen Sonderprüfung 
 erkläre ich namens der Antragsstellerin: 

Die Antragstellerin nimmt den Antrag vom 02.08.2012 hiermit zurück. 
 Prof. Dr. Klaus Steiner 
 Rechtsanwalt 

 Annex P.12 – Draft of Declarations of Withdrawal 

Oberlandesgericht München 

Gerichtsabteilung (Zivil) 
 80097 München

 18.02.2013 st-ri 

Vorab per Telefax: 5597-3570 

Az.: 7 U 1805/12 (Az. I. Instanz LG München I: 5 HK O 20488/11) 
 In Sachen 
 Deutsche Balaton Aktiengesellschaft 

Ziegelhäuser Landstr. 1, 69120 Heidelberg, 

vertr.d.d. Vorstand, Herren Rolf Birkert und Jens Jüttner 
 - Klägerin - 
 Prozessbevollmächtigter: Rechtsanwalt Prof. Dr. Klaus Steiner

                         
                   Wörthseestr. 25, 82237 Wörthsee 
 g e g e n 
 W.E.T. Automative Systems AG 

Rudolf-Diesel-Str. 12, 85235 Odelzhausen, 

vertr.d.d. Vorstand, Herren Caspar Baumhauer, Thomas Liedl und Frithjof Oldorff und 
 vertr.d.d. Aufsichtsrat, Herren Dr. Franz Scherer, Dr. Walter Hasselkus und Dr. Peter Paul Moll 
 - Beklagte – 
 Prozessbevollmächtigte: Rechtsanwälte P+P Pöllath +
Partners 

                         
                   Kardinal-Faulhaber-Str. 10, 80333 München 
 wegen Anfechtung 
 erkläre ich namens der Klägerin: 

Die Klägerin nimmt ihre Klage vom 15.09.2011 hiermit zurück. 
 Prof. Dr. Klaus Steiner 
 Rechtsanwalt 

 Annex P.12 – Draft of Declarations of Withdrawal 

Landgericht München I 
 80316 München

 18.02.2013 st-ri 

Vorab per Telefax: 5597-3003 

Az.: 17 HK O 27730/11 
 In Sachen

 Deutsche Balaton Aktiengesellschaft 
 Ziegelhäuser Landstr. 1, 69120 Heidelberg, 
 vertr.d.d. Vorstand, Herren Rolf Birkert und Jens
Jüttner 
 - Antragstellerin - 
 Prozessbevollmächtigter: Rechtsanwalt Prof. Dr. Klaus Steiner 

                         
                   Wörthseestr. 25, 82237 Wörthsee 
 g e g e n 
 W.E.T. Automative Systems AG 

Rudolf-Diesel-Str. 12, 85235 Odelzhausen, 

vertr.d.d. Vorstand, Herren Caspar Baumhauer, Thomas Liedl und Frithjof Oldorff 
 vertr.d.d. Aufsichtsrat, Herren Dr. Franz Scherer, Dr. Walter Hasselkus und Dr. Peter Paul Moll 
 - Antragsgegnerin – 
 Prozessbevollmächtigte: Rechtsanwälte P+P Pöllath
+ Partners 

                         
                   Kardinal-Faulhaber-Str. 10, 80333 München 
 wegen Sonderprüfung 
 erkläre ich namens der Antragsstellerin: 

Die Antragstellerin nimmt den Antrag vom 24.11.2011 hiermit zurück. 
 Prof. Dr. Klaus Steiner 
 Rechtsanwalt 

 Annex 4.2 – Draft of Receipt Notice 

 

	To:	Deutsche Balaton AG, Fax: 06221 6492424 

  

	To:	[Gentherm Inc., fax numbers] 

  

	To:	[Purchaser, fax numbers] 

  

	RE:	[ESCROW AMOUNT/SHARES IN W.E.T. AUTOMOTIVE SYSTEMS AG/SHARE CERTIFICATE/ DECLARATIONS OF WITHDRAWAL] 

Please be aware that the sum of EUR 6,500,000 has been deposited in the Trustee Account (accounts [account details]) on [date] pursuant to
the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH. 
 / 
 Please be aware that 442,253 shares in W.E.T. Automotive Systems AG have been deposited in the
Trustee’s Deposit Account (accounts [account details]) on [date] pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten , Deutsche Balaton AG, Gentherm Inc. and
Gentherm Europe GmbH. 
 / 
 Please be aware that shares certificates representing 3,300,000 shares in Gentherm Inc. have been deposited with me on [date] pursuant to the Trustee Agreement dated [date] between Gütt
Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH. 
 / 

Please be aware that declarations of withdrawal by Deutsche Balaton AG relating to the [file number of proceedings] have been deposited with me on
[date] pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten , Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH. 

Yours faithfully, 
 [Signature(s) of
Trustee] 

 Annex 5.1.1 – Joint Release Instruction re. Declarations of Withdrawal 

 

	To:	Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten 

  

	Attention:	Dr. Sebastian Olk 

	Fax:	089 24 22 411—50 

  

	RE:	[DECLARATIONS OF WITHDRAWAL] 

 The undersigned
hereby instruct you pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH to [handover/deliver] the declarations of
withdrawal of Deutsche Balaton AG relating to [file number of proceedings] to [name]. 
 Yours faithfully, 

[Signatures] 

 Annex 5.1.3 – Draft Notification re. Waiver 

 

	To:	Deutsche Balaton AG, fax number 06221 6492424 

  

	To:	Gütt Olk Feldhaus, fax number 089 24 22 411—50 

	RE:	[NOTIFICATION REGARDING RECEIPT OF WAIVER] 

Please be aware that on [date] we have obtained the last oustanding indications of waiver or non-exercise of rights, from our holders of Gentherm
Inc.’s Series C Preferred Stock effectively waiving the rights such holders have to participate in the issuance of equity by Gentherm Inc. on the same basis as the equity issuance of Gentherm Inc. described in the Framework Agreement between
Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH dated [date]. 
 Yours faithfully, 

[Signature(s) for Gentherm Inc.] 

 Annex 5.2.1 – Joint Release Instruction re. Escrow Amount 

 

	To:	Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten 

  

	Attention:	Dr. Sebastian Olk 

	Fax:	089 24 22 411—50 

  

	RE:	[ESCROW AMOUNT] 

 The undersigned hereby
instruct you pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH to pay the amount of EUR [amount] from the
Trustee Account (account [account details]) to the following account: 
 [account details]. 

Yours faithfully, 
 [Signatures]

 Annex 5.3.1 – Joint Release Instruction re. Shares 

 

	To:	Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten 

  

	Attention:	Dr. Sebastian Olk 

	Fax:	089 24 22 411—50 

  

	RE:	[SHARES IN W.E.T. AUTOMOTIVE SYSTEMS AG] 

 The
undersigned hereby instruct you pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and Gentherm Europe GmbH to instruct your bank to book
[number] of shares in W.E.T. Automotive Systems AG from the Trustee’s Deposit Account (account [account details]) to the following deposit account: 
 [account details]. 
 Yours faithfully, 

[Signatures] 

 Annex 5.4.1 – Joint Release Instruction re. Share Certificate 

 

	To:	Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten 

  

	Attention:	Dr. Sebastian Olk 

	Fax:	089 24 22 411—50 

  

	RE:	[SHARE CERTFICATE FOR COMMON STOCK IN GENTHERM INC.] 

 The undersigned hereby instruct you pursuant to the Trustee Agreement dated [date] between Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten, Deutsche Balaton AG, Gentherm Inc. and
Gentherm Europe GmbH to [handover/deliver] the share certificate representing 3,300,000 shares of Gentherm Common Stock to [name]. 

Yours faithfully, 
 [Signatures]

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