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GNTX > SEC Filings for GNTX > Form 8-K on 9-Apr-2014All Recent SEC Filings

Show all filings for GENTEX CORP

Form 8-K for GENTEX CORP


9-Apr-2014

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
                        Arrangements of Certain Officers.



(e)             Gentex Corporation (the "Company") has increased the overall
                responsibilities of Paul Flynn, including additional
                responsibility with respect to HomeLink®. His title remains Vice
                President - Operations and he is already an executive officer
                with reporting requirements under Section 16 of the Securities
                Exchange Act of 1934, as amended.

In connection with Mr. Flynn's increased responsibilities, on April 3, 2014, the Company set Mr. Flynn's annual salary at $220,012 (effective in accordance with Company policies and procedures). He remains eligible for profit-sharing bonuses and discretionary bonuses, which are also available to all salaried employees and officers generally and which, in operation, provide for the same method of allocation of benefits between management and non-management participants. In addition, Mr. Flynn will also receive a 10,000-share stock option grant pursuant to the Company's shareholder approved Employee Stock Option Plan, with such grant to be made at the next regularly scheduled Compensation Committee meeting (in accordance with Company policies and procedures). Moreover, as previously disclosed, Mr. Flynn will also receive a restricted stock grant of 5,270 shares pursuant to the Company's shareholder approved Second Restricted Stock Plan with such grant to be made at the next regularly scheduled Compensation Committee meeting (also in accordance with Company policies and procedures).

Notwithstanding the foregoing, Mr. Flynn does not have a written employment agreement and will continue to be an at-will employee of the Company as is the case with all employees of the Company.


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