Exhibit 10.36



 Exhibit 10.36 
 CHANGE-IN-CONTROL SEVERANCE AGREEMENT 
 THIS CHANGE-IN-CONTROL SEVERANCE
AGREEMENT (the “Agreement”), dated [—], is made by and between Autoliv, Inc., a Delaware corporation (the “Company”), and [—] (the “Executive”). 

BACKGROUND 
 The Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued
dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change in Control. This Agreement generally defines a “Change in Control” as the occurrence of any of the following: (i) the members of the
Company’s incumbent Board cease to constitute a majority of the Board; (ii) except in the case of certain issuances or acquisitions of stock, any person acquires a 20% or more ownership interest in the outstanding combined voting power of
the Company’s then outstanding securities; or (iii) the consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the Company’s assets, or a complete liquidation or
dissolution of the Company, unless (a) the beneficial owners of the Company’s combined voting power immediately prior to the transaction continue to own 60% or more of the combined voting power of the outstanding securities of the
surviving corporation, (b) no person acquires a 20% or more ownership interest in the combined voting power of the Company’s then outstanding securities, and (c) at least a majority of the members of the board of directors of the
surviving corporation were incumbent directors of the Board at the time of approval of the applicable transaction. The Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties
and risks created by a pending or threatened Change in Control and to encourage the Executive’s full attention and dedication to the Company in the event of any threatened or pending Change in Control. 

NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. DEFINED
TERMS. The definitions of capitalized terms used in this Agreement are provided in Section 16 hereof. 
 2. EFFECTIVE DATE;
TERM; PROTECTION PERIOD. 
 2.1 The “Effective Date” shall mean the first date during the Term (as defined in
Section 2.2) on which a Change in Control (as defined in Section 16) occurs. 
 2.2 Unless earlier terminated herein
in accordance with this Section 2.2 or Section 7 hereof, the “Term” of this Agreement shall begin on the effective date of the Executive’s Employment Agreement with the Company, dated as of [—] (the “Employment
Agreement”) and shall end on the Executive’s date of termination as defined in the Employment Agreement. This Agreement may be terminated by either party by giving no less 12 months written notice to the other party; provided,
however, that no such written notice may be given during the protection period. 
 2.3 The “Protection Period”
means the period commencing on the Effective Date and ending on the second anniversary of such date. 







 3. COMPANY’S COVENANTS. In order to induce the Executive to remain in the employ of the
Company notwithstanding the possibility, threat or occurrence of a Change in Control and, in consideration of the Executive’s covenants set forth in Section 4 hereof, the Company agrees, under the conditions described herein, to pay the
Executive the Severance Payment upon a Qualifying Termination during the Protection Period. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the
Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company. 
 4. THE
EXECUTIVE’S COVENANTS. The Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Potential Change in Control during the Term, the Executive will remain in the employ of the Company until the earliest of
(i) the date that is [—] months after the date of such Potential Change of Control, (ii) the date of a Change in Control, (iii) the date of the Executive’s resignation for Good Reason, (iv) the date of termination of
the Executive’s employment by reason of his death or Retirement, or (v) the termination by the Company of the Executive’s employment for any reason. 
 5. COMPENSATION OTHER THAN SEVERANCE PAYMENT. Except as otherwise provided in this Section 5, during the Term of this Agreement, including during the Protection Period, the Executive’s
Employment Agreement shall remain operative in all respects (including, but not limited to, the Executive’s right to continue to enjoy the compensation and benefits set forth in the Employment Agreement); provided, however, that in the
case of a Qualifying Termination during the Protection Period, Section 6 of this Agreement shall replace in its entirety (i) Section 11 of the Employment Agreement, and (ii) any compensation and benefits that would otherwise be
payable during the notice period set forth in Section 3 of the Employment Agreement. 
 6. SEVERANCE PAYMENT 

6.1 If, during the Protection Period, the Executive incurs a Qualifying Termination, then, and only if within [—] days after the
Date of Termination the Executive shall have executed a separation agreement hereto and such separation agreement shall not have been revoked within such time period, the Company shall pay to the Executive a lump sum severance payment (the
“Severance Payment”), in cash, equal to [—] times the sum of: 
 (i) the Executive’s annual base
salary as in effect immediately prior to the Date of Termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason; 

(ii) the average of the annual cash bonuses earned by the Executive under any Company annual bonus or incentive plan in the prior two
fiscal years, or if higher, in the fiscal year ending immediately prior to the fiscal year in which the Date of Termination occurs or, if higher, the fiscal year ending immediately prior to the fiscal year in which occurs the first event or
circumstance constituting Good Reason; and 
 (iii) the sum of (A) the taxable value of the benefit of the Executive’s
Company-provided car, if any, and (B) the value of any pension benefits, in each case, that the Executive would have been entitled to had he remained in service for one (1) year following the Date of Termination. 

  
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 In addition, the Company shall pay all relevant social costs attributable to the lump sum
severance payment described in clause (i), (ii) and (iii) above, in accordance with relevant Swedish law. 
 6.2 The Severance Payment, after deduction for preliminary tax according to law, shall be paid to the Executive in cash not later than the sixtieth (60th) day following the Date of Termination, or such later date as
may be required by Section 17.3 hereof. 
 6.3 For the avoidance of doubt, the Severance Payment shall be in lieu of any
further salary payments to the Executive for periods after the Date of Termination and any benefit otherwise payable to the Executive (including, but not limited to, those benefits provided under the notice period set forth in Section 3 of the
Employment Agreement and Section 11 of the Employment Agreement). 
 7. TERMINATION PROCEDURES AND COMPENSATION DURING
DISPUTE. 
 7.1 NOTICE OF TERMINATION. Any termination by the Company or the Executive of the Executive’s employment (other
than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall
(i) indicate the specific termination provision in this Agreement relied upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the
provision so indicated, and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date. Further, a Notice of Termination for Cause is required to include a copy of a
resolution duly adopted by the affirmative vote of not less than three-quarters (3/4) of the entire membership of the Board at a meeting of the Board which was called and held for the purpose of considering such termination (after reasonable
notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel, to be heard before the Board) finding that, in the good faith opinion of the Board, the Executive was guilty of conduct set forth in clause
(i) or (ii) of the definition of Cause herein, and specifying the particulars thereof in detail. The failure by the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause shall
not waive any right of the Company hereunder or preclude the Company from asserting such fact or circumstance in enforcing the Company’s rights hereunder. 
 7.2 DATE OF TERMINATION. “Date of Termination,” with respect to any termination of the Executive’s employment during the Protection Period, shall mean (i) if the
Executive’s employment is terminated other than by reason of death, the date specified in the Notice of Termination , or (ii) if the Executive’s employment is terminated by reason of death, the Date of Termination shall be the date of
death of the Executive. 
 7.3 DISPUTE CONCERNING TERMINATION. Any disputes regarding the termination of the Executive’s
employment shall be settled in accordance with Section 13 hereof (including, without limitation, the provisions regarding costs and expenses related to arbitration). If within fifteen (15) days after any Notice of Termination is given, or,
if later, prior to the Date of Termination (as determined without regard to this Section 7.3), the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination
shall be extended until the date on which the dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order or decree of the arbitrators (which is not appealable or with respect to which the time for
appeal there from has 

  
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expired and no appeal has been perfected); provided, however, that the Date of Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in
good faith and the Executive pursues the resolution of such dispute with reasonable diligence. 
 7.4 COMPENSATION DURING
DISPUTE. If the Date of Termination is extended in accordance with Section 7.3 hereof, the Company shall continue to provide the Executive with the compensation and benefits specified in Section 5 of his Employment Agreement, until the
Date of Termination, as determined in accordance with Section 7.3 hereof. Amounts paid under this Section 7.4 are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due
under this Agreement provided, however, that in the event that the arbitration results in a determination that the Executive is not entitled to severance payments under the terms of this Agreement, then the Executive shall repay to the Company the
compensation received by the Executive during the extended period pursuant to this Section 7.4. 
 8. NO MITIGATION;
NON-DUPLICATION OF BENEFITS. 
 8.1 The Company agrees that, if the Executive’s employment with the Company terminates
during the Protection Period, the Executive is not required to seek other employment or, except as otherwise provided in Section 8.2, to attempt in any way to reduce any amounts payable to the Executive by the Company pursuant to Section 6
hereof or Section 7.4 hereof. Further, the amount of any payment or benefit provided for in this Agreement shall not be reduced by any compensation earned by the Executive as a result of employment by another employer, by retirement benefits,
by offset against any amount claimed to be owed by the Executive to the Company, or otherwise. 
 8.2 Notwithstanding
Section 8.1 above, the aggregate of any amounts payable to the Executive by the Company pursuant to Section 6 or Section 7.4 herein shall be offset and reduced to the extent necessary by any other compensation or benefits of the same
or similar type payable under local laws of any relevant jurisdiction so that such other compensation or benefits, if any, do not augment the aggregate of any amounts payable to the Executive by the Company pursuant to Section 6 or
Section 7.4 herein. It is intended that this Agreement not duplicate benefits the Executive is entitled to under country “redundancy” laws or under the Company’s severance policy, if any, any related policies, or any other
contracts, agreements or arrangements between the Executive and the Company. 
 9. SUCCESSORS: BINDING AGREEMENT. 

9.1 In addition to any obligations imposed by law upon any successor to the Company, the Company will require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. 
 9.2 This Agreement shall inure to the benefit
of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive
hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement
to the executors, personal representatives or administrators of the Executive’s estate. 

  
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 10. NOTICES. All notices and all other communications hereunder shall be in writing and
shall be given by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to the Executive:	 	
		
	If to the Company:	 	Autoliv, Inc.
		 	Vasagatan 11, 7th Floor
		 	SE-107 24 Stockholm
		 	Sweden
		 	Attention: Secretary

 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 11. AMENDMENT AND WAIVER. No provision of this
Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer as may be specifically designated by the Board. No waiver by either party hereto at
any time of any breach by the other party hereto of, or of any lack of compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time. 
 12. ENTIRE AGREEMENT. This Agreement supersedes any other agreements or
representations, oral or otherwise, express or implied, with respect to the subject matter hereof which have been made by either party; provided, however, that this Agreement shall supersede any agreement setting forth the terms and
conditions of the Executive’s employment with the Company only in the event that the Executive incurs a Qualifying Termination during the Protection Period on or following a Change in Control. 

13. DISPUTES. Disputes regarding this Agreement (including, without limitation, disputes regarding the existence of Cause or Good Reason)
shall be settled by arbitration in accordance with the Swedish Arbitration Act. The arbitration shall take place in Stockholm and, unless otherwise agreed to by both parties, there shall be three (3) arbitrators. The provisions on voting and
cumulation of parties and claims in the Swedish Procedural Code shall be applied in the arbitration. All costs and expenses for the arbitration, whether initiated by the Company or by the Executive, including the Executive’s costs for
solicitor, shall be borne by the Company, unless the arbitrators determine that the Executive’s claim was frivolous and in bad faith, in which case the arbitrators may allocate costs as they deem fit. Any payments due to the Executive pursuant
to the preceding sentence shall be made within fifteen (15) business days after delivery of the Executive’s written request for payment accompanied with such evidence of costs and expenses incurred as the Company reasonably may require.

 14. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with Swedish law and, where applicable,
the laws of any applicable local jurisdictions. 

  
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 15. TAXES. Any payments provided for hereunder shall be paid net of any applicable
withholding taxes required under applicable law and any additional withholding to which the Executive has agreed. 
 16.
DEFINITIONS. For purposes of this Agreement, the following terms shall have the meanings indicated below: 
 (A)
“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 
 (B) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act. 
 (C) “Board” shall mean the Board of Directors of the Company. 

(D) “Cause” for termination by the Company of the Executive’s employment shall mean: 

(i) “Willful and continued failure by the Executive to substantially perform the Executive’s duties with the Company (other
than any such failure resulting from the Executive’s incapacity due to physical or mental illness or any such actual or anticipated failure after the issuance of a Notice of Termination for Good Reason by the Executive pursuant to
Section 7.1 hereof) after a written demand for substantial performance is delivered to the Executive by the Board, which demand specifically identifies the manner in which the Board believes that the Executive has not substantially performed
the Executive’s duties, or 
 (ii) the willful engaging by the Executive in conduct which is demonstrably and materially
injurious to the Company or its subsidiaries, monetarily or otherwise. 
 For purposes of clauses (i) and (ii) of this definition,
(x) no act, or failure to act, on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the Executive’s act, or failure to
act, was in the best interest of the Company and (y) in the event of a dispute concerning the application of this provision, no claim by the Company that Cause exists shall be given effect unless the Chief Executive Officer of the Company and
the Vice President of Human Resources establish to the Committee by clear and convincing evidence that Cause exists, subject to Section 7.3 hereof. 
 (E) A “Change in Control” shall mean the happening of any of the following events: 
 (i) any Person becomes the Beneficial Owner of 20% or more of either (1) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (2) the
combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, the following: (1) any
acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company, (2) any acquisition by the Company,
(3) any acquisition by any employee benefit plan (or related trust) 

  
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sponsored or maintained by the Company or any subsidiary of the Company or (4) any acquisition of the Company by any corporation pursuant to a reorganization, merger, consolidation or
similar corporate transaction (hereinafter referred to as a “Corporate Transaction”), if, pursuant to such Corporate Transaction, the conditions described in clauses (1), (2) and (3) of subparagraph (iii) below are
satisfied; or 
 (ii) A change in the composition of the Board such that the individuals who, as of the date hereof,
constituted the Board (such Board shall be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; or 
 (iii) The consummation of a Corporate Transaction; excluding, however, such a Corporate Transaction pursuant to which (1) all or substantially all of the individuals and entities who are the
beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than 60% of, respectively, the
outstanding shares of common stock of the corporation resulting from such Corporate Transaction and the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors, in
substantially the same proportions as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no Person (other than the
Company, any employee benefit plan (or related trust) of the Company or such corporation resulting from such Corporate Transaction or any Person beneficially owning, immediately prior to such Corporate Transaction, directly or indirectly, 20% or
more of the Outstanding Company Common Stock or Outstanding Company Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20% or more of, respectively the outstanding shares of common stock of the corporation resulting
from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (3) individuals who were members of the Incumbent Board constitute at
least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or 

(iv) The consummation of (1) a complete liquidation or dissolution of the Company or (2) the sale or other disposition of all
or substantially all of the assets of the Company; excluding, however, such a sale or other disposition to a corporation, with respect to which immediately following such sale or other disposition, (A) more than 60% of, respectively, the
outstanding shares of common stock of such corporation and the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors is beneficially owned, directly, or indirectly, by
all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such sale or other disposition in
substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (other than the
Company and any employee benefit plan (or related trust) of the Company or such corporation and any Person beneficially owning, immediately prior to such sale or other disposition, directly or indirectly, 20% or more of the Outstanding Company
Common Stock or Outstanding Company Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20% or more of, respectively, the outstanding shares of common stock of such corporation and the combined voting power of the
outstanding securities of such corporation entitled to vote generally in the election of directors and (c) individuals who were members of the Incumbent Board constitute at least a majority of the members of the board of directors of such
corporation. 

  
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 (F) “Code” shall mean the Internal Revenue Code of 1986, as amended from
time to time. 
 (G) “Committee” shall mean (i) the individuals (not fewer than three in number) who, on
the date six months before a Change in Control, constitute the Compensation Committee of the Board, plus (ii) in the event that fewer than three individuals are available from the group specified in clause (i) above for any reason, such
individuals as may be appointed by the individual or individuals so available (including for this purpose any individual or individuals previously so appointed under this clause (ii)). 

(H) “Company” shall mean Autoliv, Inc. and any successor to its business and/or assets which assumes and agrees to
perform this Agreement by operation of law, or otherwise. 
 (I) “Date of Termination” shall have the meaning
set forth in Section 7.2 hereof. 
 (J) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended from time to time. 
 (K) “Executive” shall mean the individual named in the first paragraph of this
Agreement. 
 (L) “Good Reason” shall mean the occurrence, without the Executive’s express written
consent, of any of the following after a Change in Control (or after a Potential Change in Control, in which case all references in clauses (i) through (vii) below to a “Change in Control” shall be read as references to the
“Potential Change in Control”): 
 (i) the assignment to the Executive of any duties inconsistent with the
Executive’s status as an executive officer of the Company or a substantial adverse alteration in the nature or status of the Executive’s responsibilities from those in effect immediately prior to the Change in Control other than any such
alteration primarily attributable to the fact that the Company may no longer be a public company; 
 (ii) a reduction by the
Company in the Executive’s annual base salary as in effect on the date immediately prior to the Change in Control or as the same may be increased from time to time; 
 (iii) the relocation of the Executive’s principal place of employment to a location more than 45 miles from the Executive’s principal place of employment immediately prior to the Change in
Control or the Company’s requiring the Executive to be based anywhere other than such principal place of employment (or permitted relocation thereof) except for required travel on the Company’s business to an extent substantially
consistent with the Executive’s present business travel obligations; 
 (iv) the failure by the Company to pay to the
Executive any portion of the Executive’s current compensation within seven (7) days of the date such compensation is due; 

  
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 (v) the failure by the Company to continue in effect any compensation plan in which the
Executive participates immediately prior to the Change in Control which is material to the Executive’s total compensation, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to
such plan, or the failure by the Company to continue the Executive’s participation therein (or in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount or timing of payment of benefits
provided and the level of the Executive’s participation relative to other participants, as existed immediately prior to the Change in Control; 
 (vii) any purported termination of the Executive’s employment which is not effected pursuant to a Notice of Termination satisfying the requirements of Section 7.1 hereof (for purposes of this
Agreement, no such purported termination shall be effective); or 
 (viii) the failure by any successor to the business of the
Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place. 
 A termination by the Executive shall not constitute termination for Good Reason unless Executive shall first have
delivered to the Company written notice setting forth with specificity the occurrence deemed to give rise to a right to terminate for Good Reason (which notice must be given no later than 90 days after the initial occurrence of such event), and
there shall have passed a reasonable time (not less than 30 days) within which the Company may take action to correct, rescind or otherwise substantially reverse the occurrence supporting termination for Good Reason as identified by the Executive.
The Executive’s right to terminate employment for Good Reason shall not be affected by the Executive’s incapacity due to physical or mental illness. The Executive’s continued employment shall not constitute consent to, or a waiver of
rights with respect to, any act or failure to act constituting Good Reason hereunder. Good Reason shall not include the Executive’s death. 
 (M) “Notice of Termination” shall have the meaning set forth in Section 7.1 hereof. 
 (N) “Person” shall mean any individual, entity or group within the meaning of Sections 13(d)(3) and 14(d)(2) of the Exchange Act. 

(0) “Potential Change in Control” shall be deemed to have occurred if the event set forth in any one of the following
paragraphs shall have occurred: 
 (i) the Company enters into an agreement, the consummation of which would result in the
occurrence of a Change in Control; 
 (ii) the Company or any Person publicly announces an intention to take or to consider
taking actions which, if consummated, would constitute a Change in Control; 
 (iii) any Person becomes the Beneficial Owner,
directly or indirectly, of securities of the Company representing 15% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities (not including in the
securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates); or 
 (iv)
the Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control has occurred. 

  
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 (P) “Protection Period” shall have the meaning set forth in Section 2.3
hereof. 
 (Q) “Qualifying Termination” shall mean any of the following occurring during the Protection Period:

 (i) the Company’s termination of the Executive’s employment other than for Cause or death; 

(ii) the Company’s termination of the Executive’s employment by reason of his disability, provided that the Executive was not
disabled prior to the Change in Control; or 
 (iii) the Executive’s termination of employment for Good Reason.

 For purposes of this Agreement, the Executive’s employment shall be deemed to have been terminated during the Protection Period, if
(A) the Executive’s employment is terminated by the Company without Cause prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into
an agreement with the Company the consummation of which would constitute a Change in Control, (B) the Executive terminates his employment for Good Reason prior to a Change in Control (whether or not a Change in Control ever occurs) and the
circumstance or event which constitutes Good Reason occurs at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, or (C) the Executive’s
employment is terminated by the Company without Cause or by the Executive for Good Reason and such termination or the circumstance or event which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control
(whether or not a Change in Control ever occurs). 
 (R) “Retirement” means the last day of the month preceding
the Executive’s 65th Birthday. 
 (S) “Severance Payment” shall have the meaning set forth in
Section 6.1 hereof. 
 17. U.S. TAX CODE SECTION 409A. This Section 17 shall apply only in the event that the
Executive is or becomes a taxpayer under the laws of the United States at any time during the Term. 
 17.1 This Agreement shall
be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either exempt from or compliant with the requirements Section 409A of the Code and applicable Internal
Revenue Service guidance and Treasury Regulations issued thereunder. Nevertheless, the tax treatment of the benefits provided under the Agreement is not warranted or guaranteed. Neither the Company nor its directors, officers, employees or advisers
shall be held liable for any taxes, interest, penalties or other monetary amounts owed by the Executive as a result of the application of Section 409A of the Code. 

  
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 17.2 Notwithstanding anything in this Agreement to the contrary, to the extent that any
amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code (“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable hereunder, or a
different form of payment of such Non-Exempt Deferred Compensation would be effected, by reason of by reason of a Change in Control or the Executive’s termination of employment, such Non-Exempt Deferred Compensation will not be payable or
distributable to the Executive, and/or such different form of payment will not be effected, by reason of such circumstance unless the circumstances giving rise to such Change in Control or termination of employment, as the case may be, meet any
description or definition of “change in control event” or “separation from service,” as the case may be, in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be
available under such definition). This provision does not prohibit the vesting of any Non-Exempt Deferred Compensation upon a Change in Control or termination of employment, however defined. If this provision prevents the payment or distribution of
any Non-Exempt Deferred Compensation, such payment or distribution shall be made on the date, if any, on which an event occurs that constitutes a Section 409A-compliant “change in control event” or “separation from service,”
as the case may be, or such later date as may be required by subsection 17.3 below. If this provision prevents the application of a different form of payment of any amount or benefit, such payment shall be made in the same form as would have applied
absent such designated event or circumstance. 
 17.3 Notwithstanding anything in this Agreement to the contrary, if any amount
or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Agreement by reason of the Executive’s separation from service during a period in which he is a “specified
employee” (as defined in Code Section 409A and the final regulations thereunder), then, subject to any permissible acceleration of payment by the Company under Treas. Reg, Section 1.409A-3(j)(4)(ii) (domestic relations order),
(j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes), (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following the Executive’s
separation from service will be accumulated through and paid or provided on the first day of the seventh month following the Executive’s separation from service (or, if the Executive dies during such period, within thirty (30) days after
the Executive’s death) (in either case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay.

 17.4 Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas.
Reg. Section 1.409A-2(b)(2), for purposes of Section 409A of the Code. 
 17.5 Whenever in this Agreement a payment or
benefit is conditioned on the Executive’s execution and non-revocation of a release of claims, such as the separation agreement referenced in Section 6.1 hereof, such release must be executed and all revocation periods shall have expired
within 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to subsection 17.3 above, such payment or benefit
(including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation
periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such 60-day period. 

  
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 17.6 If the Executive is entitled to be paid or reimbursed for any taxable expenses under
this Agreement and if such payments or reimbursements are includible in the Executive’s federal gross taxable income, the amount of such expenses payable or reimbursable in any one calendar year shall not affect the amount payable or
reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. The right to any reimbursement for expenses incurred or
provision of in-kind benefits is limited to the lifetime of the Executive, or such shorter period of time as is provided with respect to each particular right to reimbursement in-kind benefits pursuant to the preceding provisions of this Agreement.
No right of the Executive to reimbursement of expenses under this Agreement shall be subject to liquidation or exchange for another benefit. 
 17.7 If the Executive is entitled to be reimbursed for any taxes under this Agreement, such tax reimbursement payment shall be paid by the Company to the Executive no later than December 31 of the
year after the year in which the related taxes are remitted to the applicable taxing authorities. 
 18. MANDATORY REDUCTION
OF PAYMENTS IN CERTAIN EVENTS. This Section 18 shall apply only in the event that the Executive is or becomes a taxpayer under the laws of the United States at any time during the Term. 

18.1 Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by
the Company to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (a “Payment”) would be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then, prior to the making of any Payment to the Executive, a calculation shall be made comparing (i) the net benefit to the Executive of the Payment after payment of the Excise
Tax, to (ii) the net benefit to the Executive if the Payment had been limited to the extent necessary to avoid being subject to the Excise Tax. If the amount calculated under (i) above is less than the amount calculated under
(ii) above, then the Payment shall be limited to the extent necessary to avoid being subject to the Excise Tax (the “Reduced Amount”). The reduction of the Payments due hereunder, if applicable, shall be made in such a manner
as to maximize the economic present value of all Payments actually made to the Executive, determined by the Determination Firm (as defined in Section 18.2 below) as of the date of the Change in Control using the discount rate required by
Section 280G(d)(4) of the Code. 
 18.2 The determination of whether an Excise Tax would be imposed, the amount of such
Excise Tax, and the calculation of the amounts referred to Section 18.1(i) and (ii) above shall be made by an independent, nationally recognized accounting firm or compensation consulting firm mutually acceptable to the Company and the
Executive (the “Determination Firm”) which shall provide detailed supporting calculations. Any determination by the Determination Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the
application of Section 4999 of the Code at the time of the initial determination by the Determination Firm hereunder, it is possible that Payments which the Executive was entitled to, but did not receive pursuant to Section 18.1, could
have been made without the imposition of the Excise Tax (“Underpayment”). In such event, the Determination Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the
Company to or for the benefit of the Executive, but no later than December 31 of the year after the year in which the Underpayment is determined to exist. 

  
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 18.3 In the event that the provisions of Code Section 280G and 4999 or any successor
provisions are repealed without succession, or if the Executive is not a US taxpayer, this Section 18 shall be of no further force or effect.] 
 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the authorization from its Board of Directors, the Company has caused these presents to be executed in its
name on its behalf. 
  

	
	  

	
	AUTOLIV, INC.
	
	  




  
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