Document:

EX-10.2

 Exhibit 10.2 

FORM OF TAX MATTERS AGREEMENT 

BY AND BETWEEN 

AUTOLIV, INC. 
 AND

 VEONEER, INC. 

DATED AS OF                     ,
2018 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 SECTION 1
	  	Definitions of Terms	  	 	2	
	 1.1
	  	Definitions	  	 	2	
	 1.2
	  	Interpretation	  	 	6	
	 SECTION 2
	  	Allocation of Tax Liabilities and Tax Benefits	  	 	7	
	 2.1
	  	Liability for and the Payment of Taxes	  	 	7	
	 2.2
	  	Allocation Rules	  	 	8	
	 SECTION 3
	  	Preparation and Filing of Tax Returns	  	 	9	
	 3.1
	  	Joint Returns	  	 	9	
	 3.2
	  	Separate Returns	  	 	11	
	 3.3
	  	Special Rules Relating to the Preparation of Tax Returns	  	 	11	
	 3.4
	  	Reliance on Exchanged Information	  	 	12	
	 3.5
	  	Allocation of Tax Items	  	 	12	
	 SECTION 4
	  	Tax Payments	  	 	13	
	 4.1
	  	Payment of Taxes to Tax Authority	  	 	13	
	 4.2
	  	Indemnification Payments	  	 	13	
	 4.3
	  	Initial Determinations and Subsequent Adjustments	  	 	14	
	 4.4
	  	Interest on Late Payments	  	 	15	
	 4.5
	  	Payments by or to Other Group Members	  	 	15	
	 4.6
	  	Procedural Matters	  	 	15	
	 4.7
	  	Tax Consequences of Payments	  	 	15	
	 SECTION 5
	  	Assistance and Cooperation	  	 	16	
	 5.1
	  	Cooperation	  	 	16	
	 5.2
	  	Supplemental Tax Opinions	  	 	16	
	 SECTION 6
	  	Tax Records	  	 	16	
	 6.1
	  	Retention of Tax Records	  	 	16	
	 6.2
	  	Access to Tax Records	  	 	16	
	 SECTION 7
	  	Tax Contests	  	 	17	
	 7.1
	  	Notices	  	 	17	
	 7.2
	  	Control of Tax Contests	  	 	17	
	 7.3
	  	Cooperation	  	 	18	
	 SECTION 8
	  	Restriction on Certain Actions of Autoliv and Veoneer	  	 	18	
	 8.1
	  	General Restrictions	  	 	18	
	 8.2
	  	Restricted Actions Relating to Tax Materials	  	 	18	
	 8.3
	  	Certain Veoneer Actions Following the Effective Time	  	 	18	
	 SECTION 9
	  	General Provisions	  	 	19	
	 9.1
	  	Limitation of Liability	  	 	19	

  
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 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 9.2
	  	Entire Agreement	  	 	19	
	 9.3
	  	Governing Law	  	 	19	
	 9.4
	  	Termination	  	 	19	
	 9.5
	  	Notices	  	 	20	
	 9.6
	  	Counterparts	  	 	20	
	 9.7
	  	Binding Effect; Assignment	  	 	20	
	 9.8
	  	No Third Party Beneficiaries	  	 	20	
	 9.9
	  	Severability	  	 	20	
	 9.10
	  	Failure or Indulgence Not Waiver; Remedies Cumulative	  	 	21	
	 9.11
	  	Amendments	  	 	21	
	 9.12
	  	Authority	  	 	21	
	 9.13
	  	Construction	  	 	21	
	 9.14
	  	Interpretation	  	 	21	
	 9.15
	  	Predecessors or Successors	  	 	21	
	 9.16
	  	Change in Law	  	 	22	
	 9.17
	  	Disputes	  	 	22	
	 9.18
	  	Conflict	  	 	22	

  
 ii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”) is entered into as of _________, 2018 (the “Effective
Time”), by and between Autoliv, Inc., a Delaware corporation (“Autoliv”), and Veoneer, Inc., a Delaware corporation (“Veoneer”). Unless otherwise indicated, all “Section”
references in this Agreement are to sections of this Agreement. 
 RECITALS: 

WHEREAS, Veoneer is a wholly owned Subsidiary of Autoliv; 

WHEREAS, the Board of Directors of Autoliv has determined that it would be appropriate and desirable for Autoliv to separate the
Veoneer Group from the Autoliv Group, as contemplated by the Distribution Agreement (the “Separation”); 

WHEREAS, in preparation for the Separation, Autoliv and Veoneer entered into a Master Transfer Agreement, effective as of April 1,
2018 (the “Master Transfer Agreement”), pursuant to which Autoliv caused its subsidiaries to engage in several transactions, including (a) the transfer of certain operating assets, cash, a promissory note, and the shares
in certain subsidiaries from Autoliv AB, a Swedish private limited company (“AHO”), to Veoneer AB, a Swedish corporation (“Veoneer Holding”), followed by the distribution of the shares in Veoneer
Holding from AHO to Autoliv Holding AB, a Swedish private limited company (“ALV Holding”), in what is intended to qualify as a “reorganization” described under Sections 368(a)(1)(D) and 355 of the Code (the
“Swedish Reorganization”); (b) the distribution of the shares in Veoneer Holding from ALV Holding to Autoliv in what is intended to qualify as a tax-free distribution under
Section 355 of the Code (the “Swedish Distribution”); (c) the transfer of certain operating assets from Autoliv Japan Ltd., a Japanese limited company (“ALV Japan”), to Veoneer Japan Ltd., a
Japanese limited company (“Veoneer Japan”), followed by the distribution of shares in Veoneer Japan to Autoliv Holding, Inc., a Delaware corporation (“USH”) in what is intended to qualify as a
“reorganization” described under Sections 368(a)(1)(D) and 355 of the Code (the “Japanese Reorganization”); (d) the distribution of the shares in Veoneer Japan from USH to Autoliv in what is intended to qualify as a
tax-free distribution under Section 355 of the Code (the “Japanese Distribution”); and (e) the transfer of certain operating assets, cash, stock in a U.S. corporation, and
interests in certain partnerships from Autoliv ASP, Inc., an Indiana corporation (“ALV ASP”), to Veoneer US, Inc., a Delaware corporation (“Veoneer US”), followed by a contribution of the shares in
Veoneer US to Veoneer, and followed by the distribution of the shares in Veoneer from ALV ASP to Autoliv in what is intended to qualify as a “reorganization” described under Sections 368(a)(1)(D) and 355 of the Code (the “US
Reorganization,” and together with the Swedish Reorganization, the Swedish Distribution, the Japanese Reorganization, and the Japanese Distribution, the “Internal Reorganization Transactions”); 

WHEREAS, the Board of Directors of Autoliv has previously approved the contribution by Autoliv of all of the shares in Veoneer Holding,
and Veoneer Japan along with cash to Veoneer in a transaction that occurred on April 1, 2018 (the “Contribution”), in what is intended to qualify, together with the Distribution, as a “reorganization” described
under Sections 368(a)(1)(D) and 355 of the Code; and 
 WHEREAS, the Board of Directors of Veoneer has also previously approved the
Contribution; 
 WHEREAS, following the Internal Reorganization Transactions, the Board of Directors of Autoliv and the Board of
Directors of Veoneer has determined that, in connection with the Separation, it would be appropriate and desirable for Autoliv to distribute its entire interest in the stock of Veoneer on a pro rata basis to holders of Autoliv common stock (the
“Distribution”) in what is intended to qualify, together with the Contribution, as a “reorganization” described under Sections 368(a)(1)(D) and 355 of the Code; 

  
 1 

 WHEREAS, the parties set forth in the Distribution Agreement the principal arrangements
between them regarding the separation of the Veoneer Group from the Autoliv Group; and 
 WHEREAS, the parties desire to provide for
and agree upon the allocation between the parties of Taxes and Tax Items arising prior to, as a result of, and subsequent to the Distribution, and provide for and agree upon other matters relating to Taxes. 

AGREEMENT: 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows: 

SECTION 1 
 Definitions
of Terms 
 1.1 Definitions. For purposes of this Agreement (including the recitals hereof), the following terms
have the following meanings: 
 “2018 Joint Federal Return” means Autoliv’s U.S. federal consolidated income
Tax Return for the Tax Year that begins on January 1, 2018, and ends on December 31, 2018. 
 “Affiliate”
means with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. It is expressly agreed that, from and after the
Effective Time, (a) no member of the Autoliv Group shall be deemed an Affiliate of any member of the Veoneer Group, and (b) no member of the Veoneer Group shall be deemed an Affiliate of any member of the Autoliv Group. 

“Ancillary Agreement” has the meaning set forth in the Distribution Agreement. 

“Autoliv Business” has the meaning set forth in the Master Transfer Agreement. 

“Cash Distribution” has the meaning set forth in the definition of Repatriation Taxes in this
Section 1. 
 “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to
time, or any successor law. 
 “Control” means, with respect to any Person, the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of such Person, whether through ownership of securities or partnership, membership, limited liability company, or other ownership interests, by contract or otherwise and the
terms “Controlling” and “Controlled” have meanings correlative to the foregoing. 
 “Distribution
Agreement” means the Distribution Agreement entered into as of the date hereof between Autoliv and Veoneer. 

  
 2 

 “Distribution Date” means the date on which the Distribution is effected
pursuant to the Distribution Agreement. 
 “Due Date” has the meaning set forth in
Section 4.4. 
 “Autoliv Group” has the meaning set forth in the Master Transfer
Agreement. 
 “Group” means the Autoliv Group or the Veoneer Group, as the context requires. 

“Income Tax” or “Income Taxes” means any federal, state, local, or foreign Tax measured by or
imposed on net income, including withholding taxes, together with any interest, penalties, additions to tax, or additional amounts in respect of the foregoing. 

“Information” has the meaning set forth for such term in the Distribution Agreement. 

“IRS” means the United States Internal Revenue Service. 

“Joint Return” means any Tax Return for any Tax Year that includes Tax Items of both the Passive Safety Business and
the Electronics Business determined without regard to Tax Items carried forward to such Tax Year. 
 “Losses” means
any and all damages, losses, deficiencies, liabilities, obligations, Taxes, penalties, judgments, settlements, claims, payments, fines, interest, costs, and expenses (including, without limitation, the fees and expenses of any and all actions and
demands, assessments, judgments, settlements, and compromises relating thereto and the costs and expenses of attorneys’, accountants’, consultants’, and other professionals’ fees and expenses incurred in the investigation or
defense thereof or the enforcement of rights hereunder), including direct and consequential damages. 
 “Non-Income Tax” or “Non-Income Taxes” means all Taxes other than Income Taxes. 

“Non-Preparer” means, in the case of any Joint Return or Separate Return, the
party that is not responsible for the preparation and filing of such Joint Return or Separate Return, as applicable, pursuant to Section 3.1(a) or 3.2. 

“Non-Preparer Party Item” has the meaning set forth in
Section 7.2(b). 
 “Payment Date” means (a) with respect to any U.S. federal income
tax return, the due date for any required installment of estimated taxes determined under Code Section 6655, the due date (determined without regard to extensions) for filing the return determined under Code Section 6072, and the date the
return is filed, and (b) with respect to any other Tax Return, the corresponding dates determined under the applicable Tax Law. 

“Person” means any individual, general or limited partnership, corporation, business trust, joint venture,
association, company, limited liability company, unincorporated organization, a limited liability entity, any other entity or any governmental entity (or any department, agency or political subdivision thereof). 

“Pre-Spin Billed Amount” has the meaning set forth in
Section 4.2(c)(i). 

  
 3 

 “Preparer” means, in the case of any Joint Return or Separate Return, the
party that is responsible for the preparation and filing of the Joint Return or Separate Return, as applicable, pursuant to Section 3.1(a) or 3.2. 

“Redetermination Event” has the meaning set forth in Section 4.3. 

“Requesting Party” has the meaning set forth in Section 5.2. 

“Repatriation Taxes” means any Income Taxes (other than Separation Taxes) imposed under Section 965. 

“Restructuring Taxes” means any Taxes (other than Separation Taxes) that are related to or arise in connection with
the transfer, at or prior to the Effective Time, of assets and liabilities (a) related to the Electronics Business from members of Autoliv Group on one hand to members of Veoneer Group on the other hand; and (b) related to the Passive
Safety Business from members of the Veoneer Group on one hand to members of Autoliv Group on the other hand. 
 “Separate
Return” means any Tax Return that (a) is required to be filed by or with respect to any member of either Group and (b) is not a Joint Return (including, for the avoidance of doubt, Tax Returns of foreign Subsidiaries of
Autoliv or Veoneer which are not Joint Returns). 
 “Separation Taxes” means any Taxes resulting from (a) the
failure of any of the Internal Reorganization Transactions to qualify as a transaction described in Sections 355 and/or 368(a)(l)(D) of the Code, (b) the failure of the Contribution together with the Distribution to qualify as a transaction
described in Sections 355 and 368(a)(l)(D) of the Code, (iii) the application of Section 355(d), Section 355(e), or Section 355(f) of the Code to the Distribution. 

“Separation Transactions” means the transactions described in Article II of the Distribution Agreement. 

“Veoneer Group” means (a) with respect to any Tax Year (or portion thereof) ending on or before the Distribution
Date, Veoneer and each other Subsidiary of Autoliv that is a Subsidiary of Veoneer at the Effective Time; and (b) with respect to any Tax Year (or portion thereof) that begins after the Distribution Date, Veoneer and each Subsidiary of Veoneer
(but only while such Subsidiary is a Subsidiary of Veoneer). 
 “Stub Period” means the period beginning on
_________, 2018, and ending on December 31, 2018. 
 “Subsidiary” means, with respect to any Person, any
corporation, limited liability company, joint venture or partnership of which such Person (a) beneficially owns or controls, either directly or indirectly, more than fifty percent (50%) of (i) the total combined voting power of all classes
of voting securities of such Person, (ii) the total combined equity interests or (iii) the capital or profit interests, in the case of a partnership, or (b) otherwise has the power to vote, either directly or indirectly, sufficient
securities to elect a majority of the board of directors or similar governing body. 
 “Supplemental Tax Opinion”
means, with respect to a specified action, an opinion (other than the Tax Opinion) from Tax Counsel to the effect that (a) such action should not preclude the Swedish Reorganization from qualifying as a reorganization described under Sections
368(a)(1)(D) and 355 of the Code, (b) such action should not preclude the Swedish Distribution from qualifying as tax-free under Section 355 of the Code, (c) such action should not preclude the
Japanese Reorganization from qualifying 

  
 4 

 
as a reorganization described under Sections 368(a)(1)(D) and 355 of the Code, (d) such action should not preclude the Japanese Distribution from qualifying as
tax-free under Section 355 of the Code, (e) such action should not preclude the US Reorganization from qualifying as a reorganization described under Sections 368(a)(1)(D) and 355 of the Code,
(f) such action will not preclude the Contribution and the Distribution together from qualifying as a reorganization described under Sections 368(a)(1)(D) and 355 of the Code, and (g) such action will not otherwise increase the amount of
Tax imposed on the Separation Transactions. No opinion relied upon by Veoneer to satisfy the requirements of Section 8.3 shall be considered a “Supplemental Tax Opinion” unless such opinion is, in addition to the
requirements above, an unqualified “will” opinion (in the case of the Distribution) or an unqualified “should” opinion (in the case of the Internal Reorganization Transactions) reasonably satisfactory to Autoliv, which opinion
may rely upon, and may assume the accuracy of, any customary representations, reasonably satisfactory to Autoliv, contained in an officer’s certificate delivered by an officer of Autoliv or Veoneer to Tax Counsel. 

“Tax” or “Taxes” means all forms of taxation imposed by any governmental entity or political
subdivision, agency, commission, or authority thereof, whenever created or imposed, and whether of the United States or foreign jurisdiction, and whether imposed by a local, municipal, state, national, federal, or other body, and without limiting
the foregoing, shall include any income, gross income, gross receipts, profits, capital stock, franchise, withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, stamp, medical device excise,
other excise, severance, occupation, service, sales, use, license, lease, transfer, recording, import, export, value added, alternative minimum, estimated, or other similar tax (including any fee, assessment, or other charge in the nature of or in
lieu of any tax), together with any interest, penalties, additions to tax, or additional amounts in respect of the foregoing. 

“Tax Authority” means, with respect to any Tax, the governmental entity or political subdivision, agency, commission
or authority thereof that imposes such Tax, or that is charged with the assessment, determination or collection of such Tax for such entity or subdivision. 

“Tax Benefit” means any credits, refunds, or other reduction of Taxes paid or currently payable as a result of a
credit or offset or the Tax effect of any item of loss, deduction or credit or any other item (including increases in Tax basis). 

“Tax Contest” means an audit, review, examination, or any other administrative or judicial proceeding with the purpose
or effect of examining, determining or re-determining Taxes of any member of either Group (including any administrative or judicial review of any claim for refund). 

“Tax Counsel” means (a) with respect to the Tax Opinion delivered to Autoliv with respect to the Distribution,
Alston & Bird, LLP, (b) with respect to the Tax Opinion delivered to Autoliv with respect to the Internal Reorganization Transactions, Alston & Bird, LLP, or (c) with respect to a Supplemental Tax Opinion delivered to
Autoliv or to Veoneer, a nationally recognized law firm or accounting firm reasonably acceptable to Autoliv to provide such Supplemental Tax Opinion. 

“Tax Item” means, with respect to any Tax, any item of income, gain, loss, deduction, credit, or other attribute that
may have the effect of increasing or decreasing any Tax. 
 “Tax Law” means the law of any governmental entity or
political subdivision thereof, and any controlling judicial or administrative interpretations of such law, relating to any Tax. 

“Tax Materials” means (a) the representation letters delivered to Tax Counsel in connection with the delivery of
the Tax Opinion or a Supplemental Tax Opinion, and (b) any other materials delivered or deliverable by Autoliv, Veoneer, and others in connection with the rendering by Tax Counsel of the Tax Opinions or a Supplemental Tax Opinion. 

  
 5 

 “Tax Opinion” means the opinion to be delivered by Tax Counsel to Autoliv
in connection with the Internal Reorganization Transactions to the effect that (a) the Internal Reorganization Transactions should qualify as reorganizations described under Sections 368(a)(1)(D) and 355 of the Code, and (b) the
Contribution and the Distribution together should qualify as a reorganization described under Sections 368(a)(1)(D) and 355 of the Code. 

“Tax Records” means Tax Return, Tax Return work papers, documentation relating to any Tax Contests, and any other
books of account or records required to be maintained under applicable Tax Laws (including but not limited to Section 6001 of the Code) or under any record retention agreement with any Tax Authority. 

“Tax Return” means any report of Taxes due (including estimated Taxes), any claims for refund of Taxes paid, any
information return with respect to Taxes, or any other similar report, statement, declaration, election, notice, or other document required to be filed (by paper, electronically, or otherwise) under any applicable Tax Law (whether or not a payment
is required to be made in connection with such filing), including any attachments, exhibits, schedules, appendices, or other materials submitted with any of the foregoing, and including any amendments or supplements to any of the foregoing. 

“Tax Year” means with respect to any Tax, the year, or shorter period, if applicable, for which the Tax is reported as
provided under applicable Tax Law. 
 “Treasury Regulations” means the regulations promulgated from time to time
under the Code as in effect for the relevant Tax Year. 
 “Veoneer Business” has the meaning set forth in the Master
Transfer Agreement. 
 1.2 Interpretation. In this Agreement, (a) words in the singular shall be deemed to include
the plural and vice versa and words of one gender shall be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein,” “herewith” and words of similar import, and the terms
“Agreement” shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all of the Schedules, Exhibits, Annexes and Appendices hereto and thereto) and not to any particular provision of this Agreement;
(c) Article, Section, Exhibit, Schedule and Appendix references are to the Articles, Sections, Exhibits, Schedules and Appendices to this Agreement unless otherwise specified; (d) the word “including” and words of similar import
when used in this Agreement shall mean “including, without limitation”; (e) the word “or” shall not be exclusive; (f) unless expressly stated to the contrary in this Agreement, all references to “the date hereof,”
“the date of this Agreement,” and words of similar import shall all be references to the date first stated in the preamble to this Agreement, regardless of any amendment or restatement hereof; (g) unless otherwise provided, all
references to “$” or “dollars” are to United States dollars; and (h) references to the performance, discharge or fulfillment of any Liability in accordance with its terms shall have meaning only to the extent such Liability
has terms, and if the Liability does not have terms, the reference shall mean performance, discharge or fulfillment of such Liability. 

  
 6 

 SECTION 2 

Allocation of Tax Liabilities and Tax Benefits 

2.1 Liability for and the Payment of Taxes. Except as provided in Section 3.1(b) (Provision of
Information and Assistance), Section 3.2(c) (Provision of Information), and Section 7 (Tax Contests), and in accordance with Section 4, the parties’ liabilities for
Taxes and payment obligations with respect to utilized Tax Benefits shall be as set forth in Sections 2.1(a) and 2.1(b) below. 

(a) Autoliv Liabilities and Payments. For any Tax Year (or portion thereof): 

(i) Autoliv shall be liable for the Taxes (determined without regard to Tax Benefits) allocated to Autoliv pursuant to
Section 2.2(a) or Section 2.2(c) reduced by any Tax Benefits that Autoliv is permitted to utilize under the rules set forth in Section 2.1(c) that are allowable under
applicable Tax Law. 
 (ii) Autoliv shall pay Veoneer for any Tax Benefits arising in any Tax Year, including as a result of
a Tax Contest, that are allocated to Veoneer pursuant to Section 2.2(b) but that are utilized by Autoliv to reduce Taxes for which it is liable. 

(b) Veoneer Liabilities and Payments. For any Tax Year (or portion thereof): 

(i) Veoneer shall be liable for the Taxes (determined without regard to Tax Benefits) allocated to Veoneer pursuant to
Section 2.2(a) or Section 2.2(c) reduced by any Tax Benefits that Veoneer is permitted to utilize under the rules set forth in Section 2.1(c) that are allowable under
applicable Tax Law. 
 (ii) Veoneer shall pay Autoliv for any Tax Benefits arising in any Tax Year, including as a result of
a Tax Contest, that are allocated to Autoliv pursuant to Section 2.2(b) but that are utilized by Veoneer to reduce Taxes for which it is liable. 

(c) Rules for Utilization of Tax Benefits. For purpose of this Section 2, the parties’ rights to utilize
Tax Benefits under Sections 2.1(a) and 2.1(b) shall be determined in accordance with the following rules: 

(i) In general, the party to whom Tax Benefits are allocated pursuant to Section 2.2(b) shall be
entitled to utilize such Tax Benefits to reduce Taxes for which such party is liable pursuant to Section 2.1(a)(i) or Section 2.1(b)(1). 

(ii) Payment for Tax Benefits described in Section 2.1(a)(ii) shall be made only when and to the
extent that the utilization of such Tax Benefit does not reduce the Tax Benefits otherwise utilizable by Autoliv or the Autoliv Group during the applicable Tax Year, and payment for Tax Benefits described in
Section 2.1(b)(ii) shall be made only when and to the extent that the utilization of such Tax Benefit does not reduce the Tax Benefits otherwise utilizable by Veoneer or the Veoneer Group during the applicable Tax Year.

 (d) Deemed Utilization of Tax Benefits. Notwithstanding anything else to the contrary in this Agreement, to the extent that any
action taken after the Effective Time by any member of the Veoneer Group (other than the ordinary conduct of the Electronics Business consistent with past practice prior to the Distribution) directly causes any Tax Benefit that is allocated to
Autoliv pursuant to Section 2.2(b) to be reduced, Veoneer shall be deemed to have utilized Tax Benefits allocated to Autoliv 

  
 7 

 
to reduce Taxes for which Veoneer is liable for the Stub Period and shall be required to make a payment to Autoliv pursuant to Section 2.1(c)(ii) with respect to such
Tax Benefits. For the avoidance of doubt, any such payment shall not be subject to the limitation in the last sentence of Section 4.3. 

2.2 Allocation Rules. For purposes of Section 2.1: 

(a) Taxes. Except as otherwise provided in this Section 2.2, 

(i) Taxes, including any Repatriation Taxes, for any Tax Year ending on or before March 31, 2018, and Restructuring Taxes
shall be allocated solely to Autoliv and the Autoliv Group; 
 (ii) Income Taxes for any Tax Year that includes but does not
end on March 31, 2018, shall be allocated to 
 (A) Autoliv or the Autoliv Group to the extent attributable to
(1) the taxable income of the Autoliv Group or the Veoneer Group earned prior to April 1, 2018, and (2) the separate taxable income (calculated in accordance with Treasury Regulations
Section 1.1552-1(a)(1) and in accordance with past practices) attributable to or arising from the members of the Autoliv Group (including, for the avoidance of doubt, the members of the Autoliv Group that
are treated as disregarded entities for U.S. federal income tax purposes) between April 1, 2018, and December 31, 2018; and 

(B) Veoneer or the Veoneer Group to the extent attributable to the separate taxable income (calculated in accordance with
Treasury Regulations Section 1.1552-1(a)(1) and in accordance with past practices) attributable to or arising from the members of the Veoneer Group (including, for the avoidance of doubt, the members of
the Veoneer Group that are treated as disregarded entities for U.S. federal income tax purposes) between April 1, 2018, and December 31, 2018. 

(iii) Non-Income Taxes for any Tax Year that includes but does not end on
March 31, 2018, shall be allocated to 
 (A) Autoliv or the Autoliv Group to the extent attributable to (1) the
portion of the year starting on January 1, 2018, and ending on March 31, 2018, and (2) the assets of the Passive Safety Business that contribute to such Non-Income Taxes for the portion of the
year starting on April 1, 2018, and ending on December 31, 2018; and 
 (B) Veoneer or the Veoneer Group to the
extent attributable to the assets of the Electronics Business that contribute to such Non-Income Taxes for the portion of the year starting on April 1, 2018, and ending on December 31, 2018. 

In the event that any Non-Income Tax is not attributable to any items of the Electronics Business or
the Passive Safety Business (e.g., capital taxes imposed based on the authorized stock), such Non-Income Taxes shall be allocated to Autoliv or the Autoliv Group. 

  
 8 

 (iv) Special Rule. For purposes of applying this
Section 2.2, any Taxes imposed on payments from a member of one Group to a member of the other Group shall be treated as attributable entirely to the payee, except that Taxes in the nature of sales, value added, or other
transaction-based Taxes shall be treated as attributable entirely to the payer. 
 (b) Tax Benefits shall be allocated between Veoneer and
Autoliv under the same rules that apply to Taxes; provided, however, that any Tax Benefit related to or arising in connection with Autoliv Electronics SAS, a French simplified joint-stock company leaving the French consolidated group shall be dealt
with exclusively under the terms of that certain Tax Consolidation Exit Agreement executed as of April 1, 2018. 
 (c) Separation
Taxes. Separation Taxes will be allocated as follows: 
 (i) Separation Taxes Allocable to Autoliv. Separation
Taxes shall be allocated to Autoliv to the extent that such Separation Taxes result primarily from one or more of the following: 

(A) from an action or failure to act by the Autoliv Group that causes Section 355(e) of the Code to apply to either the
Internal Reorganization Transactions or the Distribution or that causes Section 355(f) of the Code to apply to the Internal Reorganization Transactions; or 

(B) taking any of the actions prohibited in (or failing to take any of the actions required by)
Section 8.1 or 8.2. 
 (ii) Separation Taxes Allocable to Veoneer. Separation Taxes
shall be allocated to Veoneer to the extent that such Separation Taxes result primarily from Veoneer’s taking any of the actions prohibited in (or failing to take any of the actions required by) Section 8.1,
8.2, or 8.3. 
 (iii) Joint Responsibility for Separation Taxes. Any Separation Taxes not allocated
under Section 2.2(c)(i) or Section 2.2(c)(ii) shall be allocated 80% to Autoliv and 20% to Veoneer. 

SECTION 3 
 Preparation
and Filing of Tax Returns 
 3.1 Joint Returns. 

(a) Preparation of Joint Returns. In general, Autoliv shall be responsible for preparing and timely filing all Joint Returns.
Notwithstanding the previous sentence, with respect to tax years ending on or before December 31, 2018, (i) Autoliv shall be responsible for (A) preparing all IRS Forms 5471 required to be filed with respect to any foreign
Subsidiaries of Autoliv and (B) timely filing all IRS Forms 5471 required to be filed with respect to any foreign Subsidiaries of Autoliv (other than foreign Subsidiaries of Veoneer) and (ii) Veoneer shall be responsible for timely filing
all IRS Forms 5471 required to be filed with respect to any foreign Subsidiaries of Veoneer. 

  
 9 

 (b) Provision of Information and Assistance. 

(i) Information with Respect to Joint Returns. The Non-Preparer shall provide
the Preparer with all information in its possession necessary for the Preparer to properly and timely file all Joint Returns for which such Preparer is responsible pursuant to Section 3.1(a). The Non-Preparer shall provide such information no later than 30 days prior to the extended due date of such Joint Return. If the Non-Preparer fails to provide such information
within the time period provided in this Section 3.1(b)(i) and in the form reasonably requested by the Preparer to permit the timely filing of any Joint Return for which the Preparer is responsible pursuant to
Section 3.1(a), then notwithstanding any other provision of this Agreement, the Non-Preparer shall be liable for, and shall indemnify and hold harmless each member of the
Preparer’s Group from and against, any penalties, interest, or other payment obligation assessed against any member of either Group by reason of a failure to file such return by its due date (including applicable extensions). If the Non-Preparer provides information within the time period provided in this Section 3.1(b)(i) in the form reasonably requested by the Preparer to permit the timely filing of a Joint Return
for which such Preparer is responsible pursuant to Section 3.1(a) or if the Preparer does not request any such information, then notwithstanding any other provision of this Agreement, the Preparer shall be liable for, and
shall indemnify and hold harmless each member of the Non-Preparer’s Group from and against, any penalties, interest, or other payments assessed against any member of either Group by reason of a failure to
file such return by its due date (including applicable extensions). 
 (ii) Information with Respect to Estimated Payments
and Extension Payments. The Non-Preparer shall provide the Preparer with all information relating to members of the Non-Preparer’s Group that the Preparer needs
to determine the amount of Taxes due on any Payment Date with respect to a Joint Return for which such Preparer is responsible pursuant to Section 3.1(a). The Non-Preparer shall
provide such information no later than 30 days before such Payment Date. In the event that the Non-Preparer fails to provide information within the time period provided in this
Section 3.1(b)(ii) in the form reasonably requested by the Preparer to permit the timely payment of such Taxes, the indemnification principles of Section 3.1(b)(i) shall apply with respect to any
penalties, interest, or other payments assessed against any member of either Group by reason of a failure to pay such Taxes by the Payment Date. 

(iii) Assistance. At the request of the Preparer, the Non-Preparer shall take
(at its own cost and expense) and shall cause the members of the Non-Preparer’s Group to take (at their own cost and expense), any reasonable action (e.g., filing a ruling request with the relevant
Tax Authority or executing a power of attorney) that is reasonably necessary for the Preparer or any other member of the Preparer’s Group to prepare, file, amend, or take any other action with respect to a Joint Return for which the Preparer is
responsible pursuant to Section 3.1(a). In the event that the Non-Preparer fails to take, or cause to be taken, any such requested action, the indemnification principles of
Section 3.1(b)(i) shall apply with respect to any penalties, interest, or other payments assessed against any member of either Group by reason of a failure to take any such requested action. 

(iv) Information with Respect to Liability for Taxes. At the reasonable request of either Party, the Parties shall
provide whatever documentation, schedules, workpapers, Tax Returns, etc. as may be reasonably required to substantiate a claim made by one Party against the other Party for Taxes or Tax Benefits pursuant to Section 2.1.

  
 10 

 3.2 Separate Returns. 

(a) Tax Returns to be Prepared by Autoliv. Autoliv shall be responsible for preparing and timely filing all Separate Returns that
include Tax Items of the Passive Safety Business (other than Separate Returns described in Section 3.2(b)) determined without regard to Tax Items carried forward to such Tax Year. 

(b) Tax Returns to be Prepared by Veoneer. Veoneer shall be responsible for preparing and timely filing (i) any Separate Returns
that are required to be filed with respect to any of its Subsidiaries prior to the Distribution, and (ii) all Separate Returns that include Tax Items of the Electronics Business determined without regard to Tax Items carried forward to such Tax
Year. 
 (c) Provision of Information. Autoliv shall provide to Veoneer, and Veoneer shall provide to Autoliv, any information about
members of the Autoliv Group or the Veoneer Group, respectively, that the party receiving such information reasonably needs to properly and timely file all Separate Returns pursuant to Section 3.2(a) or (b). Such
information shall be provided within the time prescribed by Section 3.1(b) for the provision of information for Joint Returns. In the event that Autoliv or Veoneer fails to provide information within the time period
provided in Section 3.1(b) and in the form reasonably requested by the other party to permit the timely filing of a Separate Return, the indemnification principles of Section 3.1(b)(i) shall apply
with respect to any penalties, interest, or other payments assessed against any member of the Autoliv Group or the Veoneer Group by reason of a failure to file any such return by its due date (including applicable extensions). 

3.3 Special Rules Relating to the Preparation of Tax Returns. 

(a) General Rule. Except as otherwise provided in this Agreement, the Preparer shall have the exclusive right, in its reasonable
discretion, with respect to such Tax Return to determine (i) the manner in which such Tax Return shall be prepared and filed, including the elections, methods of accounting, positions, conventions, and principles of taxation to be used and the
manner in which any Tax Item shall be reported, (ii) whether any extensions may be requested, (iii) whether an amended Tax Return shall be filed, (iv) whether any claims for refund shall be made, (v) whether any refunds shall be
paid by way of refund or credited against any liability for the related Tax, and (vi) whether to retain outside firms to prepare or review such Tax Return. Notwithstanding the preceding sentence, if the Veoneer Group pays any Tax to a Tax
Authority other than the IRS that may be claimed as a foreign Tax credit for U.S. federal income tax purposes in a Tax Return for which Autoliv is the party responsible for filing (or causing to be filed), Autoliv shall amend such Tax Returns and
file such claims for credit or refund that Veoneer may reasonably request. In addition, the Preparer shall provide to the Non-Preparer for Non-Preparer’s review and
comment pro forma Tax Returns reflecting the Non-Preparer’s share of Tax Items to be reflected on a Joint Return twenty (20) days prior to the due date of such Joint Return. 

(b) Veoneer Tax Returns. With respect to any Separate Return for which Veoneer is responsible pursuant to
Section 3.2(b): 
 (i) Veoneer may not take, and shall cause the members of the Veoneer Group not
to take (including, without limitation, any such members formed after the date hereof in anticipation of the Distribution), any positions that it knows, or reasonably should know, would be inconsistent with past practices or positions taken by any
member of the Autoliv Group; and 

  
 11 

 (ii) Veoneer and other members of the Veoneer Group must (A) allocate Tax
Items between such Separate Return for which Veoneer is responsible pursuant to Section 3.2(b) and any related Joint Return for which Autoliv is responsible pursuant to Section 3.1(a) that is filed
with respect to the same Tax Year (or with respect to a Tax Year that includes the Tax Year for such Separate Return) in a manner that is consistent with the reporting of such Tax Items on the related Joint Return for which Autoliv is responsible
pursuant to Section 3.1(a), and (B) make any applicable elections required under applicable Tax Law (including, without limitation, under Treasury Regulations
Section 1.1502-76(b)(2)) necessary to effect such allocation. 
 (c) Election to File
Consolidated, Combined, or Unitary Tax Returns. Autoliv shall have the reasonable discretion of filing any Tax Return on a consolidated, combined, or unitary basis, if such Tax Return would include at least one member of each Group and the
filing of such Tax Return is elective under the relevant Tax Law. 
 (d) Carrybacks of Tax Benefits. Veoneer shall not carry back and
utilize as a Tax Benefit in a Tax Year that begins on or before the Distribution Date any Tax Item arising in a Tax Year that begins after the Distribution Date, provided, that, if the carryback of such Tax Item is material and is required by
applicable Tax Law (for example, pursuant to Section 904(c) of the Code), and if Autoliv would be the Preparer of any Tax Return (or Tax Returns) amended to include the carried-back Tax Item, Autoliv shall amend such Tax Return (or Tax Returns)
and file such claims for credit or refund that Veoneer may reasonably request. Veoneer shall reimburse Autoliv for reasonable outside advisor fees incurred in connection with amending such Tax Return (or Tax Returns). With respect to any foreign
Taxes claimed on any such amended Tax Return, Autoliv shall only elect the benefits of the foreign Tax credit under Section 901 of the Code and shall not elect to deduct such foreign Taxes. 

(e) Withholding and Reporting. With respect to stock of Autoliv delivered to any Person, Autoliv and Veoneer shall cooperate (and shall
cause their Affiliates to cooperate) so as to permit Autoliv to discharge any applicable Tax withholding and Tax reporting obligations, including the appointment of Veoneer or one or more of its Affiliates as the withholding and reporting agent if
Autoliv or one or more of its Affiliates is not otherwise required or permitted to withhold and report under applicable Tax Law. 
 (f)
Standard of Performance. Each party shall act reasonably and in good faith in preparing the Tax Returns for which it is responsible pursuant to this Section 3. 

(g) IRS Forms 8858. In each case, the party responsible under applicable law for filing (or causing to be filed) IRS Form 8858 shall
prepare and timely file such forms. 
 3.4 Reliance on Exchanged Information. If a member of the Veoneer Group supplies
information to a member of the Autoliv Group or a member of the Autoliv Group supplies information to a member of the Veoneer Group and an officer of the requesting member intends to sign a statement or other document under penalties of perjury in
reliance upon the accuracy of such information, then a duly authorized officer of the member supplying such information shall certify, to the best of such officer’s knowledge, the accuracy and completeness of the information so supplied. 

3.5 Allocation of Tax Items. Autoliv shall determine in accordance with applicable Tax Laws the allocation of any
applicable Tax Items (e.g., net operating loss, net capital loss, investment Tax credit, foreign Tax credit, research and experimentation credit, charitable deduction, or credit related to alternative minimum Tax) as of the Effective Time
among Autoliv, each other Autoliv Group member, Veoneer, and each other Veoneer Group member. Autoliv and Veoneer hereby agree that in the absence of controlling legal authority each such Tax Item shall be allocated as provided in
Section 2.2. Autoliv shall provide reasonably timely updates of the allocation of Tax Items, as it finalizes its Tax Returns and as adjustments, if any, are subsequently made to such Tax Returns. 

  
 12 

 SECTION 4 

Tax Payments 
 4.1
Payment of Taxes to Tax Authority. Autoliv shall be responsible for remitting to the proper Tax Authority all Tax shown (including Taxes for which Veoneer is wholly or partially liable pursuant to Section 2)
on any Tax Return for which it is responsible for the preparation and filing pursuant to Section 3.1(a) or Section 3.2(a), and Veoneer shall be responsible for remitting to the proper Tax Authority
all Tax shown (including Taxes for which Autoliv is wholly or partially liable pursuant to Section 2) on any Tax Return for which it is responsible for the preparation and filing pursuant to
Section 3.2(b). 
 4.2 Indemnification Payments. 

(a) Tax Payments Made by the Autoliv Group. If any member of the Autoliv Group remits a payment to a Tax Authority for Taxes for which
Veoneer is wholly or partially liable under this Agreement, Veoneer shall remit the amount for which it is liable pursuant to Section 2 to Autoliv within 30 days after receiving notification requesting such amount. 

(b) Tax Payments Made by the Veoneer Group. If any member of the Veoneer Group remits a payment to a Tax Authority for Taxes for which
Autoliv is wholly or partially liable under this Agreement, Autoliv shall remit the amount for which it is liable pursuant to Section 2 to Veoneer within 30 days after receiving notification requesting such amount. 

(c) Credit for Prior Deemed Payments. 

(i) For purposes of Section 4.2(a), the portion of any Taxes paid by Autoliv to a Tax Authority for
which Veoneer is liable will be determined by assuming that Veoneer has previously paid in the aggregate any amounts that the members of the Veoneer Group paid to Autoliv prior to the Effective Time (adjusted, as appropriate and without duplication,
for any additional payments made prior to the Effective Time with respect to any such Taxes as a result of any audit or Tax Contest that was finally concluded prior to the Effective Time with respect to any such Taxes) based on Autoliv’s
calculation prior to the External Distribution of the portion of such Taxes that was allocable to members of the Veoneer Group (as so adjusted with respect to any such Taxes, such payments the
“Pre-Spin Billed Amount”). For the avoidance of doubt, in the event that, after the application of the preceding sentence, Veoneer is required to make a payment to Autoliv under
Section 4.2(a) with respect to Taxes relating to Tax Years or portions thereof ending on or prior to the Distribution Date (including, without limitation, as a result of the conclusion after the Distribution Date of a Tax
Contest with respect to a Tax for which there was a Pre-Spin Billed Amount or as a result of a difference between Veoneer’s allocable share of the amount actually shown on the 2014 Joint Federal Return
and the Pre-Spin Billed Amount with respect to the Taxes reported on the 2014 Joint Federal Return), no payment shall be made to account for any errors that were previously made in the calculation of the Pre-Spin Billed Amount. Autoliv’s obligation under this Agreement to provide information relating to the calculation of any Pre-Spin Billed Amount will be governed by
Section 3.1(b)(iv). 

  
 13 

 (ii) For purposes of Section 4.2(d)(i), the payments
that Autoliv is required to make to Veoneer pursuant to Section 2.1(b)(ii) will be determined by assuming that Autoliv has previously paid Veoneer for any Tax Benefit to the extent that such Tax Benefit was previously taken
into account by Autoliv for purposes of calculating a Pre-Spin Billed Amount. 
 (d) Payments for
Tax Benefits. 
 (i) If a member of the Autoliv Group utilizes a Tax Benefit for which Veoneer is entitled to payment
pursuant to clause (ii) of Section 2.1(b), Autoliv shall pay to Veoneer, within 15 business days following the utilization of such Tax Benefit, an amount equal to such Tax Benefit. 

(ii) If a member of the Veoneer Group utilizes a Tax Benefit for which Autoliv is entitled to payment pursuant to clause
(ii) of Section 2.1(a), Veoneer shall pay to Autoliv, within 15 business days following the utilization of such Tax Benefit, an amount equal to such Tax Benefit. 

(iii) For purposes of this Agreement, a Tax Benefit will be considered utilized (A) in the case of a Tax Benefit that
generates a Tax refund, at the time such Tax refund is received, and (B) in all other cases, at the time the Tax Return is filed with respect to such Tax Benefit or, if no Tax Return is filed, at the time the Tax would have been due in the
absence of such Tax Benefit. The amount of such Tax Benefit will be the amount by which Taxes are actually reduced by such Tax Benefit (determined in accordance with the provisions of Section 2.1(c)). 

(e) Withholding Taxes. If any member of the Veoneer Group determines that it is required under applicable Tax Law to withhold Taxes
that are allocated to Autoliv under Section 2.2 in respect of any payment directly or indirectly made by such member of the Veoneer Group to a member of the Autoliv Group, Autoliv shall be deemed to have made payment of
such Taxes to Veoneer for purposes of Section 4.2(b) to the extent of such withholdings. If any member of the Autoliv Group determines that it is required under applicable Tax Law to withhold Taxes that are allocated to
Veoneer under Section 2.2 in respect of any payment directly or indirectly made by such member of the Autoliv Group to a member of the Veoneer Group, Veoneer shall be deemed to have made payment of such Taxes to Autoliv for
purposes of Section 4.2(a) to the extent of such withholdings. For the avoidance of doubt, this Section 4.2(e) shall apply to any withholding taxes imposed on the Cash Distribution. 

4.3 Initial Determinations and Subsequent Adjustments. The initial determination of the amount of any payment that one
party is required to make to another under this Agreement shall be made on the basis of the Tax Return as filed, or, if the Tax to which the payment relates is not reported in a Tax Return, on the basis of the amount of Tax initially paid to the Tax
Authority. The amounts paid under this Agreement will be re-determined, and additional payments relating to such redetermination will be made (subject to the last sentence of this
Section 4.3), as appropriate, if as a result of an audit by a Tax Authority, an amended Tax Return, or for any other reason (a) additional Taxes to which such redetermination relates are subsequently paid, (b) a
refund of such Taxes is received, (c) the party utilizing a Tax Benefit changes, or (d) the amount or character of any Tax Item is adjusted or re-determined. Each payment required by the immediately
preceding sentence (a) as a result of a payment of additional Taxes will be due 30 days after the date on which the additional Taxes were paid or, if later, 15 days after the date of a request from the other party for the payment, (b) as a
result of the receipt of a refund will be due 30 days after the refund was received, (c) as a result of a change in utilization of a Tax Benefit will be due 30 days after the date on which the final action resulting in such change is taken by a

  
 14 

 
Tax Authority or either party or any of their Subsidiaries, or (d) as a result of an adjustment or redetermination of the amount or character of a Tax Item will be due thirty days after the
date on which the final action resulting in such adjustment or redetermination is taken by a Tax Authority or either party or any of their Subsidiaries. If a payment is made as a result of an audit by a Tax Authority that does not conclude the
matter, further adjusting payments will be made, as appropriate, to reflect the outcome of subsequent administrative or judicial proceedings. Notwithstanding anything else to the contrary in this Agreement, in any case in which amounts are re-determined pursuant to a particular event described in the second sentence of this Section 4.3 (a “Redetermination Event”), the parties will be obligated to make
additional payments otherwise owed under this Section 4.3 only if the amount of additional payment resulting from such Redetermination Event exceeds $50,000. 

4.4 Interest on Late Payments. Payments pursuant to this Agreement that are not made by the date prescribed in this
Agreement or, if no such date is prescribed, within fifteen days after demand for payment is made (the “Due Date”) shall bear interest for the period from and including the date immediately following the Due Date through and
including the date of payment at a per annum rate equal to the rate specified in Section 6.8 of the Distribution Agreement. Such interest will be payable at the same time as the payment to which it relates and shall be calculated on the basis
of a year of 365 days and the actual number of days for which due. 
 4.5 Payments by or to Other Group Members. When
appropriate under the circumstances to reflect the underlying liability for a Tax or entitlement to a Tax refund or Tax Benefit, a payment that is required to be made by or to Autoliv or Veoneer may be made by or to another member of the Autoliv
Group or the Veoneer Group, as appropriate, but nothing in this Section 4.5 shall relieve Autoliv or Veoneer of its obligations under this Agreement. 

4.6 Procedural Matters. Any written notice delivered to the indemnifying party in accordance with
Section 9.5 shall show the amount due and owing together with a schedule calculating in reasonable detail such amount (and shall include any relevant Tax Return, statement, bill, or invoice related to such Taxes, costs,
expenses, or other amounts due and owing). All payments required to be made by one party to the other party pursuant to this Section 4 shall be made by electronic, same day wire transfer. Payments shall be deemed made when
received. If the indemnifying party fails to make a payment to the indemnified party within the time period set forth in this Section 4, the indemnifying party shall pay to the indemnified party, in addition to interest
that accrues pursuant to Section 4.4, any costs or expenses, including any breakage costs, incurred by the indemnified party to secure such payment or to satisfy the indemnifying party’s portion of the obligation
giving rise to the indemnification payment. 
 4.7 Tax Consequences of Payments. For all Tax purposes and to the extent
permitted by applicable Tax Law, the parties hereto shall treat any payment made pursuant to this Agreement as a capital contribution or a distribution, as the case may be, immediately prior to the Distribution. Under no circumstances shall any
payment (or portion thereof) made pursuant to this Agreement be grossed up to take into account any additional Taxes that may be owed by the recipient (or any of the members of its Group) as a result of such payment. In the event that a Tax
Authority asserts that Autoliv’s or Veoneer’s treatment of a payment pursuant to this Agreement should be other than as required pursuant to this Section 4.7, Autoliv or Veoneer, as appropriate, shall use its
reasonable best efforts to contest such assertion if the parties reasonably believe that the treatment described in this Section 4.7 is permitted by applicable Tax Law. 

  
 15 

 SECTION 5 

Assistance and Cooperation 

5.1 Cooperation. In addition to the obligations enumerated in Sections 3.1(b) and 3.2(c), Autoliv and
Veoneer will cooperate (and cause their respective Subsidiaries to cooperate) with each other and with each other’s agents, including accounting firms and legal counsel, in connection with Tax matters, including provision of relevant documents
and information in their possession and making available to each other, as reasonably requested and available, personnel (including officers, directors, employees and agents of the parties or their Affiliates) responsible for preparing, maintaining,
and interpreting information and documents relevant to Taxes, and personnel reasonably required as witnesses or for purposes of providing information or documents in connection with any administrative or judicial proceedings relating to Taxes. 

5.2 Supplemental Tax Opinions. Each of the parties agrees that at the reasonable request of the other party (the
“Requesting Party”), such party shall cooperate and use reasonable efforts to (and shall cause its Subsidiaries to cooperate and use reasonable efforts to) assist the Requesting Party in obtaining, as expeditiously as
reasonably practicable, a Supplemental Tax Opinion from Tax Counsel. Within 30 days after receiving an invoice from the other party, the Requesting Party shall reimburse such party for all reasonable costs and expenses incurred by such party and the
members of its Group in connection with assisting the Requesting Party in obtaining any Supplemental Tax Opinion. 
 SECTION 6 

Tax Records 
 6.1
Retention of Tax Records. Each of Autoliv and Veoneer shall preserve, and shall cause their respective Subsidiaries to preserve, all Tax Records that are in their possession and that could affect the liability of any member of the
other Group for Taxes for as long as the contents thereof may become material in the administration of any matter under applicable Tax Law but in any event until the later of (a) the expiration of any applicable statutes of limitation as
extended, and (b) seven years after the Distribution Date. 
 6.2 Access to Tax Records. Veoneer shall make
available, and cause its Subsidiaries to make available, to members of the Autoliv Group for inspection and copying (a) all Tax Records in its possession that relate to Tax Years that begin on or before the Distribution Date, and (b) the
portion of any Tax Record in their possession that relates to Tax Years that begin after the Distribution Date and that is reasonably necessary for the preparation of a Joint Return or Separate Return by a member of the Autoliv Group or with respect
to an audit or litigation by a Tax Authority of such return. Autoliv shall make available, and cause its Subsidiaries to make available, to members of the Veoneer Group for inspection and copying (a) that portion of any Tax Record in its
possession (redacted to reflect only the information relating to the members of the Veoneer Group) that relates to Tax Years that begin on or before the Distribution Date and that is reasonably necessary for the preparation of a Separate Return by a
member of the Veoneer Group or with respect to an audit or litigation by a Tax Authority of such return, and (b) workpapers or other documentation relating to the calculation of the Taxes and Tax Benefits that have been allocated to Veoneer
pursuant to this Agreement. 

  
 16 

 SECTION 7 

Tax Contests 
 7.1
Notices. Each party shall provide prompt notice to the other party of any pending or threatened Tax audit, assessment or proceeding or other Tax Contest of which it becomes aware relating to (a) Taxes for which it is or may be
indemnified by the other party hereunder, (b) the qualification of any of the Internal Reorganization Transactions as a reorganization described under Sections 368(a)(1)(D) and/or 355 of the Code, or (c) the qualification of the
Contribution and the Distribution together as a reorganization described under Sections 368(a)(1)(D) and/or 355 of the Code. Such notice shall contain factual information (to the extent known) describing any asserted Tax liability in reasonable
detail and shall be accompanied by copies of any notice and other documents received from any Tax Authority in respect of any such matters. If (a) an indemnified party has knowledge of an asserted Tax liability with respect to a matter for
which it is to be indemnified hereunder, (b) such party fails to give the indemnifying party prompt notice of such asserted Tax liability, and (c) the indemnifying party has the right, pursuant to Section 7.2(a),
to control the Tax Contest relating to such Tax liability, then (i) if the indemnifying party is precluded from contesting the asserted Tax liability as a result of the failure to give prompt notice, the indemnifying party shall have no
obligation to indemnify the indemnified party for any Taxes arising out of such asserted Tax liability and (ii) if the indemnifying party is not precluded from contesting the asserted Tax liability, but such failure to give prompt notice
results in a monetary detriment to the indemnifying party, then any amount that the indemnifying party is otherwise required to pay the indemnified party pursuant to this Agreement shall be reduced by the amount of such detriment. 

7.2 Control of Tax Contests. 

(a) General Rule. Except as provided in the following sentence or in Section 7.2(b), each party (or the
appropriate member of their Group) shall have full responsibility, control, and discretion in handling, settling, or contesting any Tax Contest involving a Tax reported on a Tax Return for which it is responsible for preparing (or causing to be
prepared) pursuant to Section 3 of this Agreement. Notwithstanding the previous sentence, Veoneer may not take, and shall cause the members of the Veoneer Group not to take (including, without limitation, any such members
formed after the date hereof), any position in a Tax Contest that it knows, or reasonably should know, would have a material adverse effect on any member of the Autoliv Group. 

(b) Non-Preparer Participation Rights. With respect to a Tax Contest of any Tax Return that
involves a Tax Item for which the Non-Preparer may be liable (in the case of Tax Items that increase Tax liability) or that is allocated to the Non-Preparer (in the case
of Tax Benefits) under this Agreement (a “Non-Preparer Party Item”), (i) the Non-Preparer shall, at its own cost and expense, be entitled to
participate in such Tax Contest, to the extent it relates to a Non-Preparer Party Item; (ii) the Preparer shall keep the Non-Preparer reasonably informed and
consult in good faith with the Non-Preparer and its Tax advisors with respect to any issue relating to a Non-Preparer Party Item; (iii) the Preparer shall provide
the Non-Preparer with copies of all correspondence, notices, and other written materials received from any Tax Authority and shall otherwise keep the Non-Preparer and
its Tax advisors advised of significant developments in the Tax Contest and of significant communications involving representatives of the Tax Authority to the extent related to a Non-Preparer Party Item;
(iv) the Non-Preparer may request that the Preparer take a position in respect of a Non-Preparer Party Item, and the Preparer shall do so provided that
(A) there exists substantial authority for such position (within the meaning of the accuracy-related penalty provisions of Section 6662 of the Code), (B) the adoption of such position could not reasonably be expected to increase the
Taxes or reduce the Tax Benefits allocated to the Preparer pursuant to Section 2 (unless the Non-Preparer agrees to indemnify and hold harmless the Preparer from such increase in
Taxes or reduction in Tax Benefits), and (C) the Non-Preparer agrees to reimburse the Preparer for any reasonable third-party costs that are attributable to the
Non-Preparer’s 

  
 17 

 
request; (v) the Preparer shall provide the Non-Preparer with a copy of any written submission to be sent to a Tax Authority to the extent related to
a Non-Preparer Party Item prior to the submission thereof and shall give good faith consideration to any comments or suggested revisions that the Non-Preparer or its Tax
advisors may have with respect thereto; and (vi) there will be no settlement, resolution, or closing or other agreement with respect to the Non-Preparer Party Item without the consent of the Non-Preparer, which consent shall not be unreasonably withheld. 
 7.3 Cooperation.
The Non-Preparer shall provide a party controlling any Tax Contest pursuant to Section 7.2(a) with all information relating to the
Non-Preparer’s group that the party controlling the Tax Contest needs to handle, settle, or contest the Tax Contest. At the request of a party controlling any Tax Contest pursuant to
Section 7.2(a), the other party shall take any action (e.g., executing a power of attorney) that is reasonably necessary for the party controlling the Tax Contest to handle, settle, or contest the Tax Contest.
Veoneer shall assist Autoliv, and Autoliv shall assist Veoneer, in taking any remedial actions that are necessary or desirable to minimize the effects of any adjustment made by a Tax Authority. The indemnifying party shall reimburse the indemnified
party for any reasonable out-of-pocket costs and expenses incurred in complying with this Section 7.3. The party controlling the Tax Contest
shall have no obligation to indemnify the indemnified party for any additional Taxes resulting from the Tax Contest if the indemnified party fails to cooperate in accordance with this Section 7.3. 

SECTION 8 
 Restriction
on Certain Actions of Autoliv and Veoneer 
 8.1 General Restrictions. Following the Effective Time, Autoliv and
Veoneer shall not, and shall cause the members of their respective Groups not to, take any action that, or fail to take any action the failure of which, (a) would be inconsistent with any of the Internal Reorganization Transactions qualifying,
or preclude any of the Internal Reorganization Transactions from qualifying, as a reorganization described under Sections 368(a)(1)(D) and/or 355 of the Code; (b) would be inconsistent with the Contributions and the Distribution together
qualifying, or preclude the Contributions and the Distribution together from qualifying, as a reorganization described under Sections 368(a)(1)(D) and/or 355 of the Code; (c) would result in the recognition of gain under either
Section 355(d), Section 355(e), or Section 355(f) of the Code; or (d) reasonably could be expected to increase the amount of Tax imposed on any other part of the Separation Transactions. 

8.2 Restricted Actions Relating to Tax Materials. Without limiting the other provisions of this
Section 8, following the Effective Time, Autoliv and Veoneer shall not, and shall cause the members of their Groups not to, take any action that, or fail to take any action the failure of which, would be reasonably likely
to be inconsistent with, or cause any Person to be in breach of, any representation, covenant, or any material statement made in the Tax Materials. 

8.3 Certain Veoneer Actions Following the Effective Time. Without limiting the other provisions of this
Section 8, during the two-year period following the Distribution Date, Veoneer shall not take (and shall cause the members of the Veoneer Group to not take) or negotiate or enter into
a binding agreement to take (and shall cause the members of the Veoneer Group to not negotiate or enter into a binding agreement to take) any of the following actions: (a) liquidate, sell, or transfer (i) 50% or more of the assets that
constitute the Electronics Business as of the Effective Time to any Person other than Veoneer or an entity that is and will be wholly-owned, directly or indirectly, by Veoneer, or (ii) 50% or more of the assets that constitute the business of either
Veoneer Holding or Veoneer Japan as of the Effective Time to any Person other than to Veoneer Holding or Veoneer Japan, respectively, or an entity which is and will be wholly-owned, directly or indirectly, by Veoneer Holding or Veoneer Japan,
respectively; (b) transfer in a transaction described in subparagraphs (A), (C), (D), or (G) of Section 368(a)(1) (i) 

  
 18 

 
any assets of Veoneer or any Veoneer Affiliate to another entity (other than to Veoneer or an entity that is and will be wholly-owned, directly or indirectly, by Veoneer), or (ii) any assets
of either Veoneer Holding or Veoneer Japan or any Affiliate of either Veoneer Holding or Veoneer Japan to another entity (other than to Veoneer Holding or Veoneer Japan, respectively, or an entity that is and will be wholly-owned, directly or
indirectly, by Veoneer Holding or Veoneer Japan, respectively); (c) issue stock of Veoneer or any Veoneer Affiliate (or any instrument that is convertible or exchangeable into any such stock), other than an issuance to which Treasury Regulations Section 1.355-7(d)(8) or (9) applies, equal to or exceeding 20% by vote or value of the stock of Veoneer or of such Veoneer Affiliate that was issued and outstanding immediately following the Effective
Time; (d) facilitate or otherwise participate in any acquisition (or deemed acquisition) of stock of Veoneer, Veoneer Holding, or Veoneer Japan that would result in any shareholder owning (or being deemed to own after applying the rules of
Sections 355(e)(4)(C) and 355(e)(3)(B) of the Code) 40% or more by vote or value of the outstanding stock of Veoneer, Veoneer Holding, or Veoneer Japan; (e) redeem or otherwise repurchase any stock of Veoneer other than pursuant to open market
stock repurchase programs meeting the requirements of Section 4.05(1)(b) of Rev. Proc. 96-30, 1996-1 C.B. 696; or (f) terminate the active conduct by the
Veoneer Group of the Electronics Business; in each case, without first obtaining and delivering to Autoliv at Veoneer’s own expense a Supplemental Tax Opinion with respect to such action, in such form and on such terms as Autoliv may reasonably
direct. 
 SECTION 9 

General Provisions 

9.1 Limitation of Liability. IN NO EVENT SHALL ANY MEMBER OF THE AUTOLIV GROUP OR THE VEONEER GROUP OR THEIR RESPECTIVE
DIRECTORS, OFFICERS, AND EMPLOYEES BE LIABLE TO ANY OTHER MEMBER OF THE AUTOLIV GROUP OR THE VEONEER GROUP FOR ANY INCIDENTAL, CONSEQUENTIAL, SPECIAL, INDIRECT, PUNITIVE, EXEMPLARY, REMOTE, SPECUALTIVE OR SIMILAR DAMAGES OR LOST PROFITS, HOWEVER
CAUSED AND ON ANY THEORY OF LIABILITY (INCLUDING NEGLIGENCE) ARISING IN ANY WAY OUT OF THIS AGREEMENT, WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

9.2 Entire Agreement. This Agreement, the Distribution Agreement and the Ancillary Agreements constitute the entire
agreement between Autoliv and Veoneer with respect to the subject matter hereof and shall supersede all prior written and oral and all contemporaneous oral agreements and understandings with respect to the subject matter hereof. In the event of a
conflict between this Agreement, the Distribution Agreement or any Ancillary Agreement with respect to such matters, this Agreement shall govern and control. 

9.3 Governing Law. This Agreement shall be governed by and construed and interpreted in accordance with the laws of the
State of Delaware, irrespective of the choice of laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability, performance and remedies 

9.4 Termination. 

(a) This Agreement may be terminated at any time prior to the Distribution Date by and in the sole discretion of Autoliv without the approval
of Veoneer. In the event of termination pursuant to this Section 9.4, neither party shall have any liability of any kind to the other party. 

(b) This Agreement shall otherwise terminate at such time as all obligations and liabilities of the parties hereto have been satisfied. The
obligations and liabilities of the parties arising under this Agreement shall continue in full force and effect until all such obligations have been satisfied and such liabilities have been paid in full, whether by expiration of time, operation of
law, or otherwise. 

  
 19 

 9.5 Notices. All notices, requests, claims, demands or other communications
under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, or by registered or certified mail (postage prepaid, return
receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 9.5): 

If to Autoliv, to: 
 Autoliv, Inc.

 1320 Pacific Drive 
 Auburn
Hills, Michigan 48326 
 Attention: General Counsel 

If to Veoneer, to: 
 Veoneer, Inc.

 26545 American Drive 

Southfield, Michigan 48034 

Attention: General Counsel 
 Any party may, by
notice to the other party, change the address and contact person to which any such notices are to be given. 
 9.6
Counterparts(a) . This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each party hereto
and delivered to each other party. 
 9.7 Binding Effect; Assignment. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted assigns; provided, however, that no party hereto may assign its respective rights or delegate its respective obligations under this Agreement without the express prior
written consent of the other party or other parties thereto, as applicable. Notwithstanding the foregoing, no such consent shall be required for the assignment of a party’s rights and obligations under this Agreement in connection with a merger
or consolidation or the sale of all or substantially all the assets of a party so long as the resulting, surviving or transferee Person assumes all the obligations of the relevant party thereto by operation of law or pursuant to an agreement in form
and substance reasonably satisfactory to the other party. Nothing herein is intended to, or shall be construed to, prohibit either party or any member of its Group from being party to or undertaking a change of control. 

9.8 No Third Party Beneficiaries. This Agreement is solely for the benefit of Autoliv, Veoneer, and their Subsidiaries
and is not intended to confer upon any other Person any rights or remedies hereunder. 
 9.9 Severability. In the event
any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be
affected or impaired thereby. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the
invalid, illegal or unenforceable provisions. 

  
 20 

 9.10 Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or
delay on the part of either party hereto in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty, or agreement herein, and any single or partial
exercise of any such right shall not preclude other or further exercise thereof or of any other right. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available. Any
consent provided under this Agreement must be in writing and signed by the party against whom enforcement of such consent is sought. 

9.11 Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by a party
hereto, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the other party against whom it sought to enforce such waiver, amendment, supplement or modification is sought to be
enforced. 
 9.12 Authority. Each of the parties hereto represents to the other that (a) it has the corporate or
other requisite power and authority to execute, deliver, and perform this Agreement, (b) the execution, delivery, and performance of this Agreement by it has been duly authorized by all necessary corporate or other actions, (c) it has duly
and validly executed and delivered this Agreement to be executed and delivered on or prior to the Distribution Date, and (d) this Agreement creates legal, valid, and binding obligations, enforceable against it in accordance with its respective
terms subject to applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws affecting creditors’ rights generally and general equity principles. 

9.13 Construction. This Agreement shall be construed as if jointly drafted by Veoneer and Autoliv, and no rule of
construction or strict interpretation shall be applied against either party. The parties represent that this Agreement is entered into with full consideration of any and all rights that the parties may have. The parties have relied upon their own
knowledge and judgment and upon the advice of the attorneys of their choosing. The parties have received independent legal advice, have conducted such investigations they and their counsel thought appropriate, and have consulted with such other
independent advisors as they and their counsel deemed appropriate regarding this Agreement and their rights and asserted rights in connection therewith. The parties are not relying upon any representations or statements made by any other party, or
such other party’s employees, agents, representatives, or attorneys, regarding this Agreement, except to the extent such representations are expressly incorporated in this Agreement. The parties are not relying upon a legal duty, if one exists,
on the part of any other party (or such other party’s employees, agents, representatives, or attorneys) to disclose any information in connection with the execution of this Agreement or its preparation, it being expressly understood that no
party shall ever assert any failure to disclose information on the part of the other party as a ground for challenging this Agreement. 

9.14 Interpretation. The headings contained in this Agreement and in the table of contents to this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The word “including” and words of similar import when used in this Agreement will mean “including, without limitation,”
unless otherwise specified. 
 9.15 Predecessors or Successors. Any reference to Autoliv, Veoneer, a Person, or a
Subsidiary in this Agreement shall include any predecessors or successors (e.g., by merger or other reorganization, liquidation, conversion, or election under Treasury Regulations
Section 301.7701-3) of Autoliv, Veoneer, such Person, or such Subsidiary, respectively. 

  
 21 

 9.16 Change in Law. Any reference to a provision of the Code or any other
Tax Law shall include a reference to any applicable successor provision or law. 
 9.17 Disputes. The procedures for
discussion, negotiation, and arbitration set forth in Article IV of the Distribution Agreement shall apply to all disputes, controversies, or claims (whether sounding in contract, tort, or otherwise) that may rise out of, relate to, or arise under
or in connection with this Agreement. 
 9.18 Conflict. Notwithstanding anything else to the contrary in the
Distribution Agreement, except to the extent expressly provided in this Agreement, the parties shall have no obligation to each other (or to any of each other’s Affiliates) with respect to the transfer, delivery, sharing, disclosure, provision,
preparation, or maintenance of (a) any books and records primarily relating to Taxes, (b) any Information primarily relating to Taxes, or (c) any Tax Records. 

[Signature Page Follows] 

  
 22 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly
authorized representatives. 
  

			
	AUTOLIV, INC.

 
			
		
	 By:
	 	 
	Name:	 	 
	Its:	 	 

  

			
	VEONEER, INC.

 
			
		
	 By:
	 	 
	Name:	 	 
	Its:	 	 

 Signature Page – Tax Matters AgreementEX-10.3

 Exhibit 10.3 

FORM OF 
 AMENDED AND
RESTATED 
 MASTER TRANSITION SERVICES AGREEMENT 

BY AND BETWEEN 

AUTOLIV, INC. 
 AND

 VEONEER, INC. 

DATED AS OF                 , 2018 

 

 TABLE OF CONTENTS 

 

							
		
	ARTICLE I DEFINITIONS	  	 	1	 
		
	ARTICLE II SERVICES, DURATION AND CONTRACT MANAGEMENT	  	 	3	 
			
	Section 2.1	 	 Services
	  	 	3	 
			
	Section 2.2	 	 Duration of Services
	  	 	3	 
			
	Section 2.3	 	 Additional Services and Service Adjustments
	  	 	3	 
			
	Section 2.4	 	 New Services
	  	 	4	 
			
	Section 2.5	 	 Services Not Included
	  	 	5	 
			
	Section 2.6	 	 Contract Management
	  	 	5	 
			
	Section 2.7	 	 Personnel
	  	 	5	 
			
	Section 2.8	 	 Non-Exclusivity
	  	 	6	 
		
	ARTICLE III ADDITIONAL ARRANGEMENTS	  	 	6	 
			
	Section 3.1	 	 Computer-Based and Other Resources
	  	 	6	 
			
	Section 3.2	 	 Access Rights
	  	 	7	 
			
	Section 3.3	 	 Cooperation
	  	 	7	 
			
	Section 3.4	 	 Software License Terms
	  	 	7	 
			
	Section 3.5	 	 Cybersecurity Services Standards and Policies
	  	 	9	 
			
	Section 3.6	 	 Shared Applications
	  	 	9	 
			
	Section 3.7	 	 Cooperation Regarding Routine Requests for Information and Certain Services
	  	 	9	 
		
	ARTICLE IV SERVICE FEES; TAXES	  	 	10	 
			
	Section 4.1	 	 Costs and Disbursements
	  	 	10	 
			
	Section 4.2	 	 Tax Matters.
	  	 	11	 
			
	Section 4.3	 	 No Right to Set-Off
	  	 	12	 
		
	ARTICLE V STANDARD FOR SERVICE	  	 	12	 
			
	Section 5.1	 	 Standard for Service
	  	 	12	 
			
	Section 5.2	 	 Disclaimer of Warranties
	  	 	13	 
			
	Section 5.3	 	 Compliance with Laws and Regulations
	  	 	13	 
			
	Section 5.4	 	 Confidentiality
	  	 	13	 
		
	ARTICLE VI LIABILITY LIMITATIONS AND INDEMNIFICATION	  	 	13	 
			
	Section 6.1	 	 Consequential and Other Damages
	  	 	13	 
			
	Section 6.2	 	 Limitation of Liability
	  	 	13	 
			
	Section 6.3	 	 Obligation to Re-perform; Liabilities
	  	 	14	 
			
	Section 6.4	 	 Autoliv Indemnity
	  	 	14	 
			
	Section 6.5	 	 Veoneer Indemnity
	  	 	14	 
			
	Section 6.6	 	 Indemnification Matters
	  	 	15	 
			
	Section 6.7	 	 Liability for Payment Obligations
	  	 	15	 
			
	Section 6.8	 	 Exclusion of Other Remedies
	  	 	15	 
			
	Section 6.9	 	 Other Indemnification Obligations Unaffected
	  	 	15	 
		
	ARTICLE VII TERM AND TERMINATION	  	 	16	 
			
	Section 7.1	 	 Term and Termination
	  	 	16	 

							
			
	Section 7.2	 	 Effect of Termination
	  	 	17	 
		
	ARTICLE VIII DISPUTE RESOLUTION	  	 	17	 
			
	Section 8.1	 	 Negotiations between Parties’ Designated Representatives
	  	 	17	 
			
	Section 8.2	 	 Dispute Resolution
	  	 	17	 
		
	ARTICLE IX GENERAL PROVISIONS	  	 	17	 
			
	Section 9.1	 	 No Agency
	  	 	17	 
			
	Section 9.2	 	 Further Assurances
	  	 	17	 
			
	Section 9.3	 	 Audit Assistance
	  	 	18	 
			
	Section 9.4	 	 Notices
	  	 	18	 
			
	Section 9.5	 	 Severability
	  	 	18	 
			
	Section 9.6	 	 Entire Agreement
	  	 	18	 
			
	Section 9.7	 	 Governing Law
	  	 	19	 
			
	Section 9.8	 	 Facsimile Signatures
	  	 	19	 
			
	Section 9.9	 	 Assignability; No Third-Party Beneficiaries
	  	 	19	 
			
	Section 9.10	 	 Amendment
	  	 	19	 
			
	Section 9.11	 	 Rules of Construction
	  	 	19	 
			
	Section 9.12	 	 Counterparts
	  	 	20	 
			
	Section 9.13	 	 Performance
	  	 	20	 
			
	Section 9.14	 	 Title to Intellectual Property
	  	 	20	 
			
	Section 9.15	 	 Survival of Covenants
	  	 	20	 
			
	Section 9.16	 	 Waivers of Default
	  	 	20	 
			
	Section 9.17	 	 Force Majeure
	  	 	20	 

 Schedules 

			
		
	Schedule A	  	Autoliv Services
		
	Schedule B	  	Veoneer Services
		
	Schedule C	  	TSA Managers

 AMENDED AND RESTATED 

MASTER TRANSITION SERVICES AGREEMENT 

This AMENDED AND RESTATED MASTER TRANSITION SERVICES AGREEMENT, dated as of
                    , 2018 and effective as of the Separation Date (this “Agreement”), is by and between Autoliv,
Inc., a Delaware corporation (“Autoliv”), and Veoneer, Inc., a Delaware corporation (“Veoneer”). Autoliv and Veoneer are sometimes collectively referred to as the “Parties” and
each is individually referred to as a “Party.” 
 RECITALS: 

WHEREAS, the Board of Directors of Autoliv previously completed the reorganization of the business so that the Veoneer Business is
operated by Veoneer and its direct and indirect subsidiaries (the “Reorganization”); 
 WHEREAS, Autoliv and
Veoneer entered into a Master Transfer Agreement, dated as of April 1, 2018, to govern the terms and conditions of the Reorganization (as amended, modified or supplemented from time to time in accordance with its terms, the “Master
Transfer Agreement”); 
 WHEREAS, in connection with the Reorganization, Autoliv and Veoneer entered into a Transition
Services Agreement, dated as of April 1, 2018 to provide for an orderly transition for the Reorganization (the “Original TSA”); 

WHEREAS, Autoliv owns 100% of the shares of common stock, par value $1.00 per share, of Veoneer (the “Veoneer Common
Stock”); 
 WHEREAS, the Board of Directors of Autoliv (the “Autoliv Board”) has determined that
it is appropriate, desirable and in the best interests of Autoliv and its stockholders to separate, pursuant to and in accordance with the Distribution Agreement, dated as of the date hereof, between Autoliv and Veoneer (as amended, modified or
supplemented from time to time in accordance with its terms, the “Distribution Agreement”); and 
 WHEREAS,
in order to provide, or continue to provide, for an orderly transition under the Master Transfer Agreement and the Distribution Agreement, the Parties desire to enter into this Agreement to set forth the terms and conditions pursuant to which each
of the Parties shall provide to the other certain Services (as defined herein), which will supersede and replace the Original TSA. 

AGREEMENT: 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties hereby agree as follows: 
  

ARTICLE I 
 DEFINITIONS

 The following capitalized terms used in this Agreement shall have the meanings set forth below; provided, however,
terms used in this Agreement that are not defined herein shall have the meanings set forth in the Distribution Agreement (or if not defined therein, the meanings set forth in the Master Transfer Agreement): 

 

 “Additional Services” has the meaning set forth in
Section 2.3(a). 
 “Agreement” has the meaning set forth in the Preamble. 

“Autoliv” has the meaning set forth in the Preamble. 

“Autoliv Services” has the meaning set forth in Section 2.1. 

“Autoliv TSA Manager” has the meaning set forth in Section 2.6(a). 

“Designated System” has the meaning set forth in Section 3.4(e). 

“Force Majeure” means, with respect to a Party, an event beyond the control of such Party (or any Person acting on its
behalf), which by its nature could not have been reasonably foreseen by such Party (or such Person) or, if it could have been reasonably foreseen, was unavoidable, and includes acts of God, storms, floods, riots, labor unrest, pandemics, nuclear
incidents, fires, sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of war (declared or undeclared) or armed hostilities, or other national or international calamity or one or more acts of terrorism or
failure of energy sources or distribution or transportation facilities. Notwithstanding the foregoing, the receipt by a Party of an unsolicited takeover offer or other acquisition proposal, even if unforeseen or unavoidable, and such Party’s
response thereto shall not be deemed an event of Force Majeure. 
 “Indemnitees” means the Veoneer Indemnitees and
the Autoliv Indemnitees. 
 “Losses” has the meaning set forth in Section 6.4(a). 

“Markup” means 5.0%, unless otherwise specified in an applicable Services Schedule. 

“New Services” has the meaning set forth in Section 2.4. 

“Party” and “Parties” have the respective meanings set forth in the Preamble. 

“Provider” means the Party or its Subsidiary providing a Service under this Agreement. 

“Recipient” means the Party or its Subsidiary to whom a Service is provided under this Agreement. 

“Representatives” with respect to a Person, means that Person’s officers, directors, employees, agents, and other
representatives, consultants and financing sources. 
 “Service Adjustments” has the meaning set forth in
Section 2.3(b). 
 “Service Charge” has the meaning set forth in Section 4.1(a). 

“Service Extension” has the meaning set forth in Section 7.1(c). 

“Service Increases” has the meaning set forth in Section 2.3(b). 

“Service Schedule” means a Schedule to this Agreement that is included in Schedule A or Schedule B
hereto and that sets forth terms of a specific Service to be provided hereunder. 
 “Services” has the meaning set
forth in Section 2.1. 
  

  
 2 

 “TSA-Licensed Software” has the meaning set forth in
Section 3.4(a). 
 “TSA Managers” means the Veoneer TSA Manager and the Autoliv TSA Manager. 

“TSA Owner” has the meaning set forth in Section 2.6(b). 

“Transaction Taxes” has the meaning set forth in Section 4.2(a). 

“VAT” has the meaning set forth in Section 4.2(a). 

“Veoneer” has the meaning set forth in the Preamble. 

“Veoneer Services” has the meaning set forth in Section 2.1. 

“Veoneer TSA Manager” has the meaning set forth in Section 2.6(b). 

ARTICLE II 
 SERVICES,
DURATION AND CONTRACT MANAGEMENT 
 Section 2.1    Services. Subject to the terms and conditions
of this Agreement, (a) Autoliv shall provide or cause to be provided to Veoneer and its Subsidiaries, as applicable, the services listed on Schedule A to this Agreement, which will be provided pursuant to the Service Schedules
incorporated therein (collectively, the “Autoliv Services”) and (b) Veoneer shall provide or cause to be provided to Autoliv and its Subsidiaries, as applicable, the services listed on Schedule B to this
Agreement, which will be provided pursuant to the Service Schedules incorporated therein (collectively, the “Veoneer Services,” and, collectively with the Autoliv Services, any Additional Services, any Service Adjustments and
any New Services, the “Services”). All Services shall be for the sole use and benefit of the respective Recipient and its respective Affiliates. 

Section 2.2    Duration of Services. Subject to the terms of this Agreement, each of Autoliv and
Veoneer shall provide or cause to be provided to the respective Recipients or their Affiliates, as applicable, each Service from the start date specified in the applicable Service Schedule until the earliest to occur of, with respect to each such
Service, (a) the expiration of the term for such Service (or, subject to the terms of Section 7.1(c), the expiration of any Service Extension) as set forth on the applicable Service Schedule; (b) the date on which such Service
is terminated under Section 7.1(b); or (c) the expiration or termination of this Agreement. 

Section 2.3    Additional Services and Service Adjustments. 

(a)    If, within thirty (30) days after the Distribution Date, either Party (i) identifies a service that
(x) the Autoliv Group provided to the Veoneer Business prior to the Distribution Date that Veoneer reasonably needs in order for the Veoneer Business to continue to operate in substantially the same manner in which the Veoneer Business operated
prior to the Distribution Date, and such service was not included on Schedule A (other than because the Parties agreed in writing that such service shall not be provided), or (y) the Veoneer Business or members of the Veoneer Group
provided to the Autoliv Group prior to the Distribution Date that Autoliv reasonably needs in order for the Autoliv Business to continue to operate in substantially the same manner in which the Autoliv Business operated prior to the Distribution
Date, and such service was not included on Schedule B (other than because the Parties agreed in writing that such service shall not be provided), and (ii) provides a written change request (in the form agreed by the Parties) to the other
Party requesting such additional services within thirty (30) days after the Distribution Date, then such other Party shall negotiate in good faith to provide such 

  
 3 

 
requested additional services (such requested additional services, the “Additional Services”); provided, however, that neither Party shall be obligated to
provide any Additional Service (w) if such services could, in the judgment of either Party, impact the treatment of the Reorganization or the Distribution under the federal income tax laws, (x) if it does not, in its reasonable judgment,
have adequate resources to provide such Additional Service, (y) if the provision of such Additional Service would significantly disrupt the operation of its businesses or (z) if the Parties are unable to reach agreement on the terms
thereof (including with respect to Service Charges therefor). If the Parties agree to any such Additional Service, then the Parties shall document such terms in a Service Schedule to be incorporated in Schedule A or Schedule B, as
applicable. The Service Schedule shall describe in reasonable detail the nature, scope, service period(s), and other terms applicable to such Additional Services. Each such Service Schedule, as agreed to in writing by the Parties, shall be deemed
part of this Agreement as of the date of such agreement and the Additional Services set forth therein shall be deemed “Services” provided under this Agreement, in each case subject to the terms and conditions of this Agreement. 

(b)    After the Distribution Date, if a Provider or Recipient desires to adjust any Services or change the manner in
which Services are provided (such adjustments and changes, “Service Adjustments”), then such Provider or Recipient, as applicable, will provide a written change request (in the form agreed by the Parties) to the other Party,
and the Parties shall negotiate in good faith to make such Service Adjustments, provided that, if a Service Adjustment requested by a Recipient (i) is an increase, relative to historical levels prior to the Distribution Date, to the
volume, amount, level or frequency, as applicable, of any Service provided by a Provider, or is an increase to the volumes specified in the applicable Service Schedule, and (ii) such increase is reasonably determined by the Recipient as
necessary for the Recipient to operate its businesses (such increases, “Service Increases”), then such Provider shall negotiate in good faith to provide such Service Increase; provided, however, that the Provider shall
not be obligated to provide any Service Increase if the Provider and the Recipient are unable to reach agreement on the terms thereof (including with respect to Service Charges therefor) or if such services could, in the judgment of either Party,
impact the treatment of the Reorganization or the Distribution under the federal income tax laws; provided, further, that notwithstanding the foregoing, if such higher volume or quantity results from fluctuations occurring in the ordinary
course of business of the Recipient, the Provider shall use commercially reasonable efforts to provide such requested higher volume or quantity. If the Parties agree to any Service Adjustment, then the Parties shall document such terms in an
amendment to the applicable Service Schedule. Each amended Service Schedule, as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such agreement and the Service Adjustments set forth therein shall be
deemed “Services” provided under this Agreement, in each case subject to the terms and conditions of this Agreement. 

Section 2.4    New Services. If, within thirty (30) days after the Distribution Date, a Party
desires the other Party to provide additional or different services which such other Party is not expressly obligated to provide under this Agreement (excluding, for the avoidance of doubt, any Additional Services or Service Adjustments, the
“New Services”), then such Party will provide a written change request (in the form agreed by the Parties) to the other Party within thirty (30) days after the Distribution Date. The Party receiving such request shall
negotiate in good faith to provide such New Service; provided, however, that no Party shall be obligated to provide any New Services, including because the Parties are unable to reach agreement on the terms thereof (including with respect to Service
Charges therefor) or if such services could, in the judgment of either Party, impact the treatment of the Reorganization or the Distribution under the federal income tax laws. If the Parties agree to any such New Service, then the Parties shall
document such terms in a Service Schedule to be incorporated in Schedule A or Schedule B, as applicable. The Service Schedule shall describe in reasonable detail the nature, scope, service period(s), termination provisions and other
terms applicable to such New Services. Each supplement to the applicable Service Schedule, as agreed to in writing by the Parties, shall be deemed part of this 

  
 4 

 
Agreement as of the date of such agreement and the New Services set forth therein shall be deemed “Services” provided under this Agreement, in each case subject to the terms and
conditions of this Agreement. The Parties shall in good faith determine any costs and expenses, including any start-up costs and expenses, which would be incurred by the Provider in connection with the provision of such New Service, which costs and
expenses shall be borne solely by the Recipient. 
 Section 2.5    Services Not Included. No Services
provided under this Agreement shall be construed as accounting, legal or tax advice or shall create any fiduciary obligations on the part of any Provider or any of its Affiliates to any Person, including to the Recipient or any of its Affiliates,
and the Recipient shall not rely on, or construe, any Services rendered by or on behalf of the Provider as such professional advice. 

Section 2.6    Contract Management. 

(a)    TSA Owners. Each Service Schedule sets forth an initial Autoliv and Veoneer representative (each, a
“TSA Owner”) who will be responsible for the initial coordination of the Services provided under the applicable Service Schedule. The TSA Owners will keep their respective TSA Manager reasonably informed of any issues that
arise with respect to the Services provided under their applicable Service Schedule. Each Party shall notify the other of the appointment of a different TSA Owner in accordance with Section 9.4, and Schedule A and Schedule
B shall be updated accordingly. 
 (b)    TSA Managers. Autoliv and Veoneer have designated the respective
individuals set forth in Schedule C to act as its services manager (the “Autoliv TSA Manager” and “Veoneer TSA Manager,” respectively) for the Services provided pursuant to this Agreement. The
TSA Managers will be responsible for coordinating and managing the delivery of all Services provided by the applicable Party and have authority to act on such Party’s behalf with respect to matters relating to the provision of the Services
under this Agreement. The TSA Managers will work with the personnel of their respective Group and their respective TSA Owners to periodically address any issues and other matters raised by such personnel relating to the provision of the Services.
Each Party shall notify the other of the appointment of a different TSA Manager in accordance with Section 9.4, and Schedule C shall be updated accordingly. 

(c)    Notwithstanding the requirements of Section 9.4, communications between the Parties regarding routine
matters under this Agreement shall be made through the TSA Owners and, if necessary, the TSA Managers. 

Section 2.7    Personnel. 

(a)    The Provider of any Service will make available to the Recipient of such Service such personnel as Provider
determines may be necessary to provide such Service. Except as otherwise set forth in a Service Schedule, the Provider will have the right, in its sole discretion, to (i) designate which personnel it will assign to perform such Service and
(ii) remove and replace such personnel at any time; provided, further, that the Provider will use its commercially reasonable efforts to limit the disruption to the Recipient in the transition of the Services to different personnel. 

(b)    In the event that the provision of any Service by the Provider requires the cooperation and services of the
personnel of the Recipient, the Recipient will make available to the Provider such personnel (who shall be appropriately qualified for purposes of so supporting the provision of such Service by the Provider) as may be necessary for the Provider to
provide such Service. The Recipient 

  
 5 

 
will have the right, in its sole discretion, to (i) designate which personnel it will make available to the Provider in connection with the provision of such Service and (ii) remove and
replace such personnel at any time; provided, further, that the Recipient will use its commercially reasonable efforts to limit the disruption to the Provider in the transition of such personnel. 

(c)    All employees and representatives of any Provider who provide Services under this Agreement shall be deemed for
purposes of all compensation, employment, and employee benefits matters to be employees or representatives of such Provider and not employees or representatives of the Recipient or any of its Affiliates. The Provider of any Service under this
Agreement shall be solely responsible for (i) payment of wages and provision of employee benefits to all employees and representatives of such Provider who provide Services under this Agreement, and (ii) ensuring compliance with applicable
employment and employee benefits Laws with respect to such employees and representatives. In performing the Services, such employees and representatives shall be under the direction, control and supervision of the Provider (and not the Recipient)
and Provider shall have the sole right to exercise all authority with respect to the employment (including termination of employment), assignment and compensation of such employees and representatives. 

(d)    A Provider may hire or engage one or more subcontractors to perform any or all of its obligations under this
Agreement; provided, however, that (i) such Provider shall use the same degree of care in selecting any such subcontractor as it would if such contractor was being retained to provide similar services to the Provider, and (ii) such
Provider shall in all cases remain primarily responsible for all of its obligations under this Agreement with respect to the scope of the Services, the standard for services as set forth herein and the content of the Services provided to the
Recipient. 
 (e)    Nothing in this Agreement shall grant the Provider, or its employees, agents and third-party
providers that are performing the Services, the right directly or indirectly to control or direct the operations of the Recipient or any member of its Group. Such employees, agents and third-party providers shall not be required to report to the
management of the Recipient or be deemed to be under the management or direction of the Recipient. The Recipient acknowledges and agrees that, except as may be expressly set forth herein as a Service (including any Additional Services, Service
Adjustments or New Services) or otherwise expressly set forth in the Master Transfer Agreement, the Distribution Agreement, another Transaction Document or any other applicable agreement, no Provider or any member of its Group shall be obligated to
provide, or cause to be provided, any service or goods to any Recipient or any member of its Group. 

Section 2.8    Non-Exclusivity. Nothing in this Agreement shall preclude any Recipient from obtaining,
in whole or in part, services of any nature that may be obtainable from the Provider, from its own employees or from providers other than the Provider. 

ARTICLE III 
 ADDITIONAL
ARRANGEMENTS 
 Section 3.1    Computer-Based and Other Resources. Each Party and its
Subsidiaries shall cause all of their personnel having access to the computer software, networks, hardware, technology or computer-based resources of the other Party and its Subsidiaries in connection with the performance, receipt or delivery of a
Service, to comply with all security guidelines (including physical security, network access, internet security, confidentiality and personal data security guidelines) of such other Party and its Affiliates of which written notice is provided by
such other Party. Each Party shall ensure that the access 

  
 6 

 
contemplated by this Section 3.1 shall be used by its personnel only for the purposes contemplated by, and subject to the terms of, this Agreement. 

Section 3.2    Access Rights. 

(a)    Veoneer shall, and shall cause its Subsidiaries to, allow Autoliv and its Subsidiaries and their respective
Representatives reasonable access to the facilities of Veoneer and its Subsidiaries necessary for Autoliv to fulfill its obligations under this Agreement. 

(b)    Autoliv shall, and shall cause its Subsidiaries to, allow Veoneer and its Subsidiaries and their respective
Representatives reasonable access to the facilities of Autoliv and its Subsidiaries necessary for Veoneer to fulfill its obligations under this Agreement. 

(c)    Notwithstanding the other rights of access of the Parties under this Agreement, each Party shall, and shall cause
its Subsidiaries to, afford, following not less than five (5) business days’ prior written notice from the other Party and during normal business hours, (i) the other Party, its Subsidiaries and Representatives escorted access to the
facilities and personnel of the relevant Providers and (ii) a third-party designated by the other Party and approved by the relevant Provider (such approval not to be unreasonably withheld), reasonable access to the information, systems and
infrastructure of the Provider, in each case as reasonably necessary for the other Party to verify the Provider’s compliance with its obligations hereunder and the adequacy of internal controls over information technology, reporting of
financial data and related processes employed in connection with the Services, including in connection with verifying compliance with Section 404 of the Sarbanes-Oxley Act of 2002; provided, however, (A) such access shall not
unreasonably interfere with any of the business or operations of such Provider, (B) if a Party determines that providing such access could violate any applicable Law or agreement or waive any attorney-client privilege, then the Parties shall
use commercially reasonable efforts to permit such access in a manner that avoids each of such harm and consequence, (C) if a Party determines that providing such access requires a third-party consent, such access shall be subject to the
receipt of such third-party consent, and (D) any third-party that is provided access pursuant to this Section will be required to execute a non-disclosure agreement that restricts such third-party from disclosing confidential information of the
audited Provider to the Party that engaged such third-party, except to the extent required to report on the extent to which the audited Provider is not in compliance with its obligations or its controls are not adequate. 

(d)    Except as otherwise permitted by the other Party in writing, each Party shall permit only its authorized
Representatives, contractors, invitees or licensees to access the other Party’s facilities. 

Section 3.3    Cooperation. It is understood that it will require the significant efforts of both Parties to
implement this Agreement and to ensure performance of this Agreement by the Parties at the agreed-upon levels in accordance with all of the terms and conditions of this Agreement. The Parties will cooperate, acting in good faith and using
commercially reasonable efforts, to effect a smooth and orderly transition of the Services provided under this Agreement from the Provider to the Recipient (including, as applicable, the assignment or transfer of the rights and obligations under any
third-party contracts relating to the Services); provided, however, that this Section 3.3 shall not require either Party to incur any out-of-pocket costs or expenses unless and except as expressly provided in a Service Schedule or
elsewhere in this Agreement or otherwise agreed to in writing by the Parties. 
 Section 3.4    Software
License Terms. 
  

  
 7 

 (a)    Software that is made available by a Provider to a Recipient in
connection with any Service (any such Software being referred to herein as “TSA-Licensed Software”) provided hereunder will be subject to the terms set forth in this Section 3.4 except as otherwise provided in the
applicable Service Schedule. The Provider hereby grants to the Recipient a non-exclusive, non-transferable license to use, in object code form, any TSA-Licensed Software that is made available by the Provider pursuant to a Service Schedule. For the
avoidance of doubt, the Provider that makes available any TSA-Licensed Software in connection with the provision of any Service retains the unrestricted right to enhance or otherwise modify such TSA-Licensed Software at any time, provided
that such enhancements or other modifications do not disrupt the provision of such Service to the Recipient. 

(b)    The Recipient may not exceed the number of licenses, agents, tiers, nodes, seats, or other use restrictions or
authorizations, if any, specified in the applicable Service Schedule. Some TSA-Licensed Software may require license keys or contain other technical protection measures. The Recipient acknowledges that the Provider may monitor the Recipient’s
compliance with use restrictions and authorizations remotely, or otherwise. If the Provider makes a license management program available which records and reports license usage information, the Recipient agrees to appropriately install, configure
and execute such license management program. 
 (c)    Unless otherwise permitted by the Provider, the Recipient may
only make copies or adaptations of the TSA-Licensed Software for archival purposes or when copying or adaptation is an essential step in the authorized use of TSA-Licensed Software. If the Recipient makes a copy for backup purposes and installs such
copy on a backup device, the Recipient may not operate such backup installation of the TSA-Licensed Software without paying an additional license fee, except in cases where the original device becomes inoperable. If a copy is activated on a backup
device in response to failure of the original device, the use on the backup device must be discontinued when the original or replacement device becomes operable. The Recipient may not copy the TSA-Licensed Software onto or otherwise use or make it
available on, to, or through any public or external distributed network. Licenses that allow use over the Recipient’s intranet require restricted access by authorized users only. 

(d)    The Recipient must reproduce all copyright notices that appear in or on the TSA-Licensed Software (including
documentation) on all permitted copies or adaptations. Copies of documentation are limited to internal use. 

(e)    Notwithstanding anything to the contrary herein, certain TSA-Licensed Software may be licensed under the applicable
Service Schedule for use only on a computer system owned, controlled, or operated by or solely on behalf of the Recipient and may be further identified by the Provider by the combination of a unique number and a specific system type
(“Designated System”) and such license will terminate in the event of a change in either the system number or system type, an unauthorized relocation, or if the Designated System ceases to be within the possession or control
of the Recipient. 
 (f)    The Recipient will not modify, reverse engineer, disassemble, decrypt, decompile, or make
derivative works of the TSA-Licensed Software. Where the Recipient has other rights mandated under statute, the Recipient will provide the Provider with reasonably detailed information regarding any intended modifications, reverse engineering,
disassembly, decryption, or decompilation and the purposes therefor. 
 (g)    Upon expiration or termination of the
Service Schedule under which TSA-Licensed Software is made available, the Recipient will destroy the TSA-Licensed Software. The Recipient will remove and destroy or return to the Provider any copies of the TSA-Licensed Software that are merged

  
 8 

 
into adaptations, except for individual pieces of data in the Recipient’s database. The Recipient will provide certification of the destruction of TSA-Licensed Software, and copies thereof,
to the Provider. The Recipient may retain one copy of the TSA-Licensed Software subsequent to expiration or termination solely for archival purposes. 

(h)    The Recipient may not sublicense, assign, transfer, rent, or lease the TSA-Licensed Software to any other person
except as permitted in this Section 3.4. 
 (i)    The Recipient agrees that the Provider may engage a
third-party designated by the Provider and approved by the Recipient (such approval not to be unreasonably withheld) to audit the Recipient’s compliance with the Software License terms. Any such audit will be at the Provider’s expense,
require reasonable notice, and will be performed during normal business hours. Such third-party will be required to execute a non-disclosure agreement that restricts such third-party from disclosing confidential information of the Recipient to the
Provider, except to the extent required to report on the extent to which the Recipient is not in compliance with the Software License terms. 

Section 3.5    Cybersecurity Services Standards and Policies. Each of the Parties agrees that, during
the term of this Agreement, it and its Affiliates will adhere to (a) with respect to any Autoliv information or TSA-Licensed Software licensed by Autoliv, the Autoliv Information Security Policy and Autoliv Standard for Information Technology
existing as of the Effective Date and (b) with respect to any Veoneer information or any TSA-Licensed Software licensed by Veoneer, the Veoneer Information Security Policy and Veoneer Standard for Information Technology, as they may hereafter
be amended from time to time. 
 Section 3.6    Shared Applications. The Parties acknowledge that
they or their respective Affiliates may be required in connection with the provision or receipt of any Service to access or use a software application and related data that is being accessed or used concurrently by the other Party or the other
Party’s Affiliates. The Parties agree to reasonably cooperate to ensure that such concurrent use or access of such applications and related data does not result in the disruption of either Party’s or its Affiliates business activities.

 Section 3.7    Cooperation Regarding Routine Requests for Information and Certain Services. 

(a)    The Parties acknowledge and agree that the Parties and their Affiliates will require, in the conduct of transition
services, documents or information in the possession of the other Party or the other Party’s Affiliates from time to time during the term of this Agreement. Without limiting any Party’s obligations under any other provision of this
Agreement with respect to cooperation and the provision of information or access to books and records, each Party agrees that it and its Affiliates will reasonably cooperate with the other Party and the other Party’s Affiliates with respect to
routine requests for documents or information that the other Party and the other Party’s Affiliates reasonably may make from time to time, including promptly responding to any telephonic requests for information that the other Party or the
other Party’s Affiliates may make from time to time. For the avoidance of doubt, nothing in this Section 3.7(a) requires a Party to provide any consulting or other services to the requesting Party or the requesting Party’s
Affiliates or to incur any expenses (other than the expense associated with its personnel responding to requests for information). 

(b)    Each Party agrees that, in addition to any other obligations it may have under this Agreement (including any
Service Schedule), the Master Transfer Agreement, the Distribution Agreement or any other Transaction Document, it and its Affiliates will use commercially reasonable 

  
 9 

 
efforts to make available its personnel to provide to the other Party and the other Party’s Affiliates such additional routine services and support, including the provision of Information,
as may be reasonably requested by the other Party or the other Party’s Affiliates from time to time. Notwithstanding the foregoing, if the amount of time expended by any individual providing such services and support represents or is expected
to represent more than twenty percent (20%) of such individual’s work time during a calendar month, then the Parties will enter into a Service Schedule to be incorporated in Schedule A or Schedule B, as applicable, that will
describe in reasonable detail the nature, scope, service period(s), payment and other terms applicable thereto. None of the services and support, including the provision of Information, provided under this Section 3.7(b) shall include
the licensing or assignment of any Intellectual Property except to the extent expressly provided in a Service Schedule entered into pursuant to this Section 3.7(b). 

ARTICLE IV 
 SERVICE
FEES; TAXES 
 Section 4.1    Costs and Disbursements. 

(a)    Except as otherwise provided in the applicable Service Schedule, the Recipient of a Service shall pay to the
Provider of such Service a fee for the Service (each fee constituting a “Service Charge”). The Service Charge will be (i) the Provider’s allocable cost to provide the Services under the Service Schedule plus the
Markup, (ii) calculated using another pricing methodology, as specified in the applicable Service Schedule, or (iii) with respect to any real estate, the fair market value for the use of such real estate. 

(b)    During the term of this Agreement, the amount of a Service Charge for any Service may increase or decrease to the
extent of: (i) any increases or decreases mutually agreed to by the Parties, (ii) any Service Charges applicable to any Additional Services, Service Adjustments or New Services, (iii) any increase in the applicable Service Charge
during a Service Extension, in accordance with Section 7.1(c), and (iv) any increase in the rates or charges imposed by any unaffiliated third-party provider that is providing Services. The Provider shall, upon receipt of a request
from the Recipient, provide the Recipient with appropriate documentation, together with any invoice for Service Charges, to support the calculation of such Service Charges. 

(c)    For the time period from the date of this Agreement through September 30, 2018, the Service Charges for the
Services provided under this Agreement shall be as set forth in Annex 1 to this Agreement, which is based on an estimate of the Service Charges for the Services to be provided during this time period calculated in accordance with
Section 4.1(a). For the remainder of the term of this Agreement, in advance of each quarter, the Parties will agree on an update to the Service Charges set forth in Annex 1 for the upcoming quarter, based on an estimate of the
Service Charges for the Services to be provided under this Agreement for such quarter. Annex 1 may also be updated or amended from time to time as mutually agreed to by the Parties, and shall be updated or amended as necessary to reflect the
Service Charges for any Additional Services, Service Adjustments or New Services. The Service Charges will be invoiced on a quarterly basis, or on such other frequency as may be provided in the applicable Service Schedule (or mutually agreed by the
Parties), and the Provider shall provide with the applicable invoice all substantiation of allocable costs that the Recipient may reasonably request. 

(d)    The Provider will provide an invoice to the Recipient for the Service Charges for the period covered by such
invoice. The Recipient shall pay the amounts stated as due in each invoice by wire transfer (or such other method of payment as may be agreed between the Parties) to the Provider within thirty (30) days of the receipt of each such invoice,
including appropriate documentation as 

  
 10 

 
described herein, as instructed by the Provider. The Recipient shall notify the Provider promptly, and in no event later than thirty (30) days following receipt of the Provider’s
invoice, of any disputed amounts. If the Recipient does not notify the Provider of any disputed amounts within such thirty (30)-day period, then Recipient will be deemed to have accepted the Provider’s invoice. Any such Dispute shall be handled
in accordance with Article VIII. The Recipient shall pay any undisputed amount in accordance with this Section 4.1(d). All amounts due and payable hereunder shall be invoiced and paid in (i) U.S. dollars or (ii) if the
Parties so agree, another currency agreed by the Parties. If required any applicable Law or otherwise reasonably requested by a Party or an Affiliate thereof, any Provider and any Recipient may enter into a local country agreement providing for the
performance of Services. Section 4.2 shall apply to these invoices accordingly. 
 (e)    Subject to the
confidentiality provisions applicable pursuant to Section 5.4, each Party shall, and shall cause its Subsidiaries to, provide, upon ten (10) days’ prior written notice from the other Party, any information within such
Party’s or its Subsidiaries’ possession that the requesting Party reasonably requests in connection with any Services being provided to such requesting Party by an unaffiliated third-party provider, including any applicable invoices,
agreements documenting the arrangements between such third-party provider and the Provider and other supporting documentation; provided, however, that each Party shall make no more than one (1) such request during any fiscal quarter.

 (f)    Any costs and expenses incurred by either Party in connection with obtaining any third-party consent
contemplated by Section 5.1(b) that is required to allow the Provider to perform or cause to be performed any Service shall be borne by the Recipient. 

Section 4.2    Tax Matters. 

(a)    Without limiting any provisions of this Agreement, the Service Charges (and prices charged therefor) are exclusive
of, and the Recipient shall be responsible for, (i) all excise, sales, use, transfer, stamp, documentary, filing, recordation and other similar transaction taxes, (ii) any value added, goods and services or similar recoverable transaction
taxes (“VAT”) and (iii) any related interest and penalties (collectively, “Transaction Taxes”) that Provider is not at fault for causing, in each case imposed or assessed as a result of the
provision of Services by the Provider. To the extent that cross-border Services to be performed hereunder fall within Article 44 of the EU VAT Directive or the relevant equivalent national provision and the Provider is not required to charge VAT,
the Recipient agrees that it will itself account for VAT in its own jurisdiction on the performance of such cross-border Services made to it hereunder and will provide to the Provider a valid VAT registration number, certificate (or equivalent
documentation) in the jurisdiction with respect to the country or region of receipt of such cross-border Services, where required by applicable Law. The Provider will issue legally compliant invoices to the Recipient usable by the Recipient to
recover (by way of credit or refund) Transaction Taxes in jurisdictions where they are recoverable. In the event a Governmental Authority questions the Transaction Tax treatment of the Services provided, the Provider and the Recipient will work
together to issue corrected invoices where applicable. The Recipient and the Provider agree to utilize commercially reasonable efforts to collaborate regarding any requests for information, audit, controls or similar requests of the Governmental
Authority concerning Transaction Taxes and that involve the Services provided under this Agreement. The Provider and the Recipient agree to take commercially reasonable actions to cooperate in obtaining any refund, return or rebate, or applying
zero-rating for Services giving rise to any Transaction Taxes, including filing any necessary exemption or other similar forms or providing valid VAT identification numbers or other relevant registration numbers, certificates or other similar
documents. The Recipient shall promptly reimburse the Provider for any costs incurred by the Provider or its Affiliates in connection with the Recipient obtaining a 

  
 11 

 
refund, return, rebate or the like of any Transaction Tax. For the avoidance of doubt, any applicable gross receipts-based or net income-based taxes imposed on payments received by Provider shall
be borne by the Provider unless the Provider is required by Law to collect or obtain, or allowed to separately invoice for and collect or obtain, reimbursement of such taxes from the Recipient. 

(b)    The Recipient shall be entitled to deduct and withhold Taxes required by applicable Law to be withheld on payments
made to the Provider pursuant to this Agreement. To the extent any amounts are so withheld, the Recipient shall (i) pay such deducted and withheld amount to the proper Governmental Authority and (ii) upon request, promptly provide to the
Provider evidence of such payment to such Governmental Authority. The Provider shall, prior to the date of any payment to be made pursuant to this Agreement, make commercially reasonable efforts to provide the Recipient any certificate or other
documentary evidence (A) required by any applicable Law or (B) which the Provider is entitled by any applicable Law to provide in order to reduce the amount of any Taxes that may be deducted or withheld from such payment, and the Recipient
agrees to accept and act in reliance on any such duly and properly executed certificate or other applicable documentary evidence to the maximum extent permitted by applicable Law. 

Section 4.3    No Right to Set-Off. Subject to the Recipient’s right to withhold disputed amounts
in accordance with Section 4.1(e), the Recipient shall timely pay the full amount of Service Charges and shall not set off, counterclaim or otherwise withhold any amount owed to the Provider under this Agreement on account of any
obligation owed by the Provider to the Recipient. 
 ARTICLE V 

STANDARD FOR SERVICE 

Section 5.1    Standard for Service. 

(a)    Each Provider agrees (i) to perform any Services that it provides hereunder with substantially the same nature,
quality, standard of care and service levels at which the same or similar services were performed by or on behalf of such Provider prior to the Distribution or, if not so previously provided, then substantially similar to those which are applicable
to similar services provided to the Provider or such Provider’s Affiliates or other business units and (ii) upon receipt of written notice from the Recipient identifying any outage, interruption or other failure of any Service, to respond
to such outage, interruption or other failure of such Service in a manner that is substantially similar to the manner in which such Provider or its Affiliates responded to any outage, interruption or other failure of the same or similar services
prior to the Distribution or, with respect to services for which same or similar services were not provided prior to the Distribution, in a manner that is substantially similar to the manner in which such Provider or its Affiliates responds with
respect to internally provided services. The Parties acknowledge that an outage, interruption or other failure of any Service shall not be deemed to be a breach of the provisions of this Section 5.1(a) so long as the applicable Provider
complies with the foregoing clause (ii). 
 (b)    Nothing in this Agreement shall require the Provider to perform or
cause to be performed any Service to the extent that the manner of such performance would constitute a violation of applicable Law or any existing contract or agreement with a third-party. If the Provider is or becomes aware of any potential
violation on the part of the Provider, the Provider shall promptly send a written notice to the Recipient of any such potential violation. The Parties each agree to cooperate and use commercially reasonable efforts to obtain any necessary
third-party consents required under any existing contract or agreement with a third-party to allow the Provider to perform or cause to be performed any Service in accordance with the standards set forth in Section 5.1(a), subject to
Section 4.1(g). If, with respect to a 

  
 12 

 
Service, the Parties, despite the use of such commercially reasonable efforts, are unable to obtain a required third-party consent or the performance of such Service by the Provider would
continue to constitute a violation of applicable Law, the Provider shall use commercially reasonable efforts to provide such Services in a manner as closely as possible to the standards described in Section 5.1(a) that would not
constitute a violation of applicable Law or any existing contract or agreement with a third-party. 

Section 5.2    Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE PARTIES
ACKNOWLEDGE AND AGREE THAT THE SERVICES ARE PROVIDED AS-IS, THAT EACH RECIPIENT ASSUMES ALL RISKS AND LIABILITIES ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON THE SERVICES AND EACH PROVIDER, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE
LAW, MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT THERETO. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH PROVIDER HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING
THE SERVICES, WHETHER EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, INCLUDING ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NONINFRINGEMENT, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS OF
ANY SERVICE FOR A PARTICULAR PURPOSE. 
 Section 5.3    Compliance with Laws and Regulations. Each
Party shall be responsible for its own compliance and its subcontractors’ compliance with any and all Laws applicable to its performance under this Agreement. No Party shall knowingly take any action in violation of any such applicable Law that
results in liability being imposed on the other Party. 
 Section 5.4    Confidentiality. Each Party
agrees that the data, information and documents relating to the other Party’s business, affairs or finances which come into its possession pursuant to this Agreement shall be subject to the confidentiality provisions set forth in
Section 6.9 of the Distribution Agreement. 
 ARTICLE VI 

LIABILITY LIMITATIONS AND INDEMNIFICATION 

Section 6.1    Consequential and Other Damages. Notwithstanding anything to the contrary contained in
this Agreement, the Master Transfer Agreement, the Distribution Agreement or any other Transaction Document, except in connection with a third-party claim pursuant to Section 6.4 or 6.5, no Party shall be liable to the other Party
or any of its Affiliates or Representatives, whether in contract, tort (including negligence and strict liability) or otherwise, at law or equity, for any special, indirect, incidental, punitive or consequential damages whatsoever (including lost
profits or damages calculated on multiples of earnings approaches), which in any way arise out of, relate to or are a consequence of, the performance or nonperformance by such Party (including any Affiliates and Representatives and any unaffiliated
third-party providers, in each case, providing any applicable Services) under this Agreement or the provision of, or failure to provide, any Services under this Agreement, including with respect to business interruptions or claims of customers, even
if such Party has been advised of the possibility of such damages. 
 Section 6.2    Limitation of
Liability. Except for (a) payment of Service Charges, (b) breaches of confidentiality obligations, (c) claims arising from gross negligence or willful misconduct, and (d) liability for indemnification with respect to
third-party claims pursuant to Section 6.4 or 6.5, the Liability of a Party and its Affiliates and Representatives, collectively, for any act or failure to act in connection 

  
 13 

 
with a Service Schedule (including the performance or breach of such Service Schedule), or from the sale, delivery, provision or use of any Services provided under or contemplated by a Service
Schedule, whether in contract, tort (including negligence and strict liability) or otherwise, at law or equity, shall not exceed the aggregate Service Charges actually paid to such Party and its Affiliates under such Service Schedule up to the date
of the event giving rise to such Liability. 
 Section 6.3    Obligation to Re-perform; Liabilities.
In the event of any breach of this Agreement by any Provider with respect to the provision of any Services (with respect to which the Provider can reasonably be expected to re-perform in a commercially reasonable manner), the Provider shall
(a) promptly correct in all material respects such error, defect or breach or re-perform in all material respects such Services at the request of the Recipient and at the sole cost and expense of the Provider and (b) subject to the
limitations set forth in Sections 6.1 and 6.2, reimburse the Recipient and its Affiliates and Representatives for Liabilities attributable to such breach by the Provider. Except as set forth in Section 6.4 and Section 6.5,
the remedy set forth in this Section 6.3 shall be the sole and exclusive remedy of the Recipient for any such breach of this Agreement. Any request for re-performance in accordance with this Section 6.3 by the Recipient must
be in writing and specify in reasonable detail the particular error, defect or breach, and such request must be made no more than one (1) month from the date such error, defect or breach becomes apparent or should have reasonably become
apparent to the Recipient. 
 Section 6.4    Autoliv Indemnity. 

(a)    From and after the Distribution Date, Autoliv in its capacity as a Recipient and on behalf of each of the other
members of the Autoliv Group in their capacity as Recipients, shall indemnify, defend and hold harmless Veoneer and the other Veoneer Indemnitees from and against any and all liabilities, losses, damages, claims, costs, expenses, interest, awards,
judgments and penalties (including reasonable fees for outside counsel, accountants and other outside consultants) (collectively, “Losses”) suffered or incurred by the Veoneer Indemnitees in connection with a third-party
claim against such Veoneer Indemnitees, which Losses result from any Services provided by any member of the Veoneer Group hereunder, except to the extent such Losses arise out of an Veoneer Group member’s (i) breach of this Agreement,
(ii) violation of Laws in providing the Services, (iii) violation of third-party rights (including such third-party rights embodied in patents, trademarks, copyrights and trade secrets) in providing the Services, (iv) breaches of
confidentiality obligations under Section 5.4, or (v) gross negligence or willful misconduct in providing the Services. 

(b)    From and after the Distribution Date, Autoliv, in its capacity as a Provider and on behalf of each of the other
members of the Autoliv Group in their capacity as Providers, shall indemnify, defend and hold harmless Veoneer and the other Veoneer Indemnitees from and against any and all Losses suffered or incurred by the Veoneer Indemnitees in connection with a
third-party claim against such Veoneer Indemnitees, which Losses result from (i) a breach of this Agreement by Autoliv or any other member of the Autoliv Group in connection with the provision of Services, or (ii) the gross negligence or
willful misconduct of Autoliv or any other member of the Autoliv Group in its performance of its obligations hereunder; provided, however, that neither Autoliv nor any other member of the Autoliv Group shall be deemed to have breached the
Agreement, or been grossly negligent or to have engaged in willful misconduct, to the extent that Losses arise as a result of information provided by or on behalf of the Veoneer Indemnitees to Autoliv or any other member of the Autoliv Group or any
actions taken or omitted to be taken by Autoliv or any other member of the Autoliv Group upon the written direction or instruction of the Veoneer Indemnitees. 

Section 6.5    Veoneer Indemnity. 

 

  
 14 

 (a)    From and after the Distribution Date, Veoneer in its capacity as a
Recipient and on behalf of each of the other members of the Veoneer Group in their capacity as Recipients, shall indemnify, defend and hold harmless Autoliv and the other Autoliv Indemnitees from and against any and all Losses suffered or incurred
by the Autoliv Indemnitees in connection with a third-party claim against such Autoliv Indemnitees, which Losses result from any Services provided by any member of the Autoliv Group hereunder, except to the extent such Losses arise out of an Autoliv
Group member’s (i) breach of this Agreement, (ii) violation of Laws in providing the Services, (iii) violation of third-party rights (including such third-party rights embodied in patents, trademarks, copyrights and trade
secrets) in providing the Services, (iv) breaches of confidentiality obligations under Section 5.4, or (v) gross negligence or willful misconduct in providing the Services. Notwithstanding the above, Veoneer will indemnify
Autoliv for any and all legal issues that may arise out of the creation of a Multiple Employer Welfare Arrangement (MEWA) as provided and agreed to under the Autoliv Services, not subject to any monetary or temporal caps or limitations. 

(b)    From and after the Distribution Date, Veoneer, in its capacity as a Provider and on behalf of each of the other
members of the Veoneer Group in their capacity as Providers, shall indemnify, defend and hold harmless Autoliv and the other Autoliv Indemnitees from and against any and all Losses suffered or incurred by the Autoliv Indemnitees in connection with a
third-party claim against such Autoliv Indemnitees, which Losses result from (i) a breach of this Agreement by Veoneer or any other member of the Veoneer Group in connection with the provision of Services, or (ii) the gross negligence or
willful misconduct of Veoneer or any other member of the Veoneer Group in its performance of its obligations hereunder; provided, however, that neither Veoneer nor any other member of the Veoneer Group shall be deemed to have breached the
Agreement, or been grossly negligent or to have engaged in willful misconduct, to the extent that Losses arise as a result of information provided by or on behalf of the Autoliv Indemnitees to Veoneer or any other member of the Veoneer Group or any
actions taken or omitted to be taken by the Veoneer or any other member of the Veoneer Group upon the written direction or instruction of the Autoliv Indemnitees. 

Section 6.6    Indemnification Matters. The provisions of Sections 5.4 through 5.17 of the Distribution
Agreement shall govern claims for indemnification under this Agreement, provided that, for purposes of this Section 6.6, in the event of any conflict between the provisions of the Distribution Agreement and this Article VI,
the provisions of this Agreement shall control. 
 Section 6.7    Liability for Payment Obligations.
Nothing in this Article VI shall be deemed to eliminate or limit, in any respect, Autoliv’s or Veoneer’s express obligation in this Agreement to pay Service Charges for Services rendered in accordance with this Agreement. 

Section 6.8    Exclusion of Other Remedies. The provisions of Sections 6.3, 6.4 and
6.5 shall, to the maximum extent permitted by applicable Law, be the sole and exclusive remedies of the Autoliv Group and the Veoneer Group, as applicable, for any Liability, whether arising from statute, principle of common or civil law,
principles of strict liability, tort, contract or otherwise under this Agreement. 
 Section 6.9    Other
Indemnification Obligations Unaffected. This Article VI applies solely to the specific matters and activities covered by this Agreement and the Original TSA (and not to matters specifically covered by the Master Transfer Agreement,
the Distribution Agreement or any other Transaction Document). For avoidance of doubt, any claim that is made after the Distribution Date, even if it relates to Services rendered or that were supposed to be rendered pursuant to the Original TSA
prior to the Distribution Date, shall be governed by the terms of this Agreement, including the indemnification provisions contained in this Article VI and the dispute resolution provisions contained in Article VIII. 

 

  
 15 

 ARTICLE VII 

TERM AND TERMINATION 

Section 7.1    Term and Termination. 

(a)    This Agreement shall be effective on the Distribution Date and shall terminate upon the earlier to occur of:
(i) the mutual written agreement of the Parties to terminate this Agreement in its entirety, (ii) the last date on which either Party is obligated to provide any Service to the other Party in accordance with the terms of this Agreement, or
(iii) March 31, 2020. 
 (b)    (i)    Without prejudice to a Recipient’s rights with
respect to a Force Majeure set forth in Section 9.17, a Recipient may from time to time terminate this Agreement with respect to any Service or any portion thereof: 

(A)    for any reason or no reason upon providing (i) at least thirty (30) days’ prior
written notice to the Provider or (ii) notice in accordance with such other notice period as may be specified in the applicable Service Schedule; or 

(B)    if the Provider of such Service has failed to perform any of its material obligations under this
Agreement with respect to such Service, and such failure shall continue to exist thirty (30) days after receipt by the Provider of written notice of such failure from the Recipient. 

(ii)    A Provider may terminate this Agreement with respect to one or more Services, in whole but not in
part, at any time upon prior written notice to the Recipient if the Recipient has failed to perform any of its material obligations under this Agreement relating to such Services, including making payment of Service Charges when due, and such
failure shall continue uncured for a period of thirty (30) days after receipt by the Recipient of a written notice of such failure from the Provider. 

(iii)    The relevant Schedule shall be updated to remove any Service terminated under
Section 7.1(b)(i) or (ii). 
 (iv)    The Parties acknowledge that there may be
interdependencies among the Services being provided under this Agreement that may not be identified on the applicable Service Schedules and agree that, if the Provider’s ability to provide a particular Service in accordance with this Agreement
is materially and adversely affected by the termination of another Service in accordance with Section 7.1(b)(i)(A), then the Parties shall negotiate in good faith to amend the Service Schedule relating to such affected continuing
Service. 
 (c)    If the Recipient reasonably determines that it will require a Service to continue beyond the duration
identified in the applicable Service Schedule or the end of a subsequent extension period, the Recipient may request the Provider to extend such Service for the desired renewal period(s) (each, a “Service Extension”) by
written notice to the Provider no less than ninety (90) days prior to end of the then-current Service duration. The Provider shall use commercially reasonable efforts to comply with such Service Extension request; provided, however, that
(i) the Service Extensions with respect to each Service Schedule shall not extend the duration of such Service Schedule more than twelve (12) months beyond its original duration (as specified in the applicable Service Schedule) or past
March 31, 2020, (ii) the Provider will not be in breach of its obligations under this Section 7.1(c) if it is unable to comply with a Service Extension request through the use of commercially reasonable efforts, (iii) each
Service Extension is permissible under applicable Law, and (iv) the Provider will not be in breach of its 

  
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obligations under this Section 7.1(c) if the Service Extension could, in the judgment of the Provider, impact the treatment of the Reorganization or the Distribution under the federal
income tax laws. Unless otherwise agreed between the Parties, the services provided pursuant to any Service Extension will continue at the same Service Charges. The Parties shall amend the terms of the applicable Service Schedule to reflect the new
Service duration and Service Charge, if applicable, within five (5) days following the Recipient’s request for a Service Extension, subject to the conditions set forth in this Section 7.1(c). Each such amended Service Schedule,
as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such agreement. 

Section 7.2    Effect of Termination. Upon termination of any Service pursuant to this Agreement, the
Provider of the terminated Service will have no further obligation to provide the terminated Service, and the applicable Recipient will have no obligation to pay any future Service Charges relating to any such Service; provided, however, that
the Recipient shall remain obligated to the relevant Provider for the Service Charges owed and payable in respect of Services provided prior to the effective date of termination. In connection with the termination of any Service, the provisions of
this Agreement not relating solely to such terminated Service shall survive any such termination, and in connection with a termination of this Agreement, Article I, Article VI (including liability in respect of any indemnifiable
Liabilities under this Agreement arising or occurring on or prior to the date of termination), this Section 7.2, Article VIII, Article IX, all confidentiality obligations under this Agreement and liability for all due and
unpaid Service Charges shall continue to survive indefinitely. 
 ARTICLE VIII 

DISPUTE RESOLUTION 

Section 8.1    Negotiations between Parties’ Designated Representatives. As set forth in
Section 2.6, the TSA Owners and TSA Managers shall have the initial responsibility for resolving any dispute regarding the provision of Services pursuant to this Agreement. 

Section 8.2    Dispute Resolution. Subject to Section 8.1, in the event the TSA Owners and
TSA Managers are unable to resolve any dispute within thirty (30) days, the dispute resolution procedures set forth in Article IV of the Distribution Agreement shall apply to any dispute, controversy or claim arising out of or relating to this
Agreement. 
 ARTICLE IX 

GENERAL PROVISIONS 

Section 9.1    No Agency. Nothing in this Agreement shall be deemed in any way or for any purpose to
make any Party an agent of an unaffiliated Party (which shall for the avoidance doubt include a member of the Veoneer Group, on the one hand, and a member of the Autoliv Group, on the other hand, following the Distribution Date) in the conduct of
such other Party’s business. The Provider of any Service under this Agreement shall act as an independent contractor and not as the agent of the Recipient in performing such Service, maintaining control over its employees, its subcontractors
and their employees and complying with all withholding of income at source requirements, whether federal, national, state, local or foreign. 

Section 9.2    Further Assurances. Each Party hereto shall take, or cause to be taken, any and all
reasonable actions, including the execution, acknowledgment, filing and delivery of any and all documents and instruments that any other Party hereto may reasonably request in order to effect the intent and purpose of this Agreement and the
transactions contemplated hereby. 
  

  
 17 

 Section 9.3    Audit Assistance. Each of the Parties and
their respective Subsidiaries are or may be subject to regulation and audit by Governmental Authorities (including taxing authorities), standards organizations, customers or other parties to contracts with such Parties or their respective
Subsidiaries under applicable Law, standards or contract provisions. If a Governmental Authority, standards organization, customer or other Party to a contract with a Party or its Subsidiary exercises its right to examine or audit such Party’s
or its Subsidiary’s books, records, documents or accounting practices and procedures pursuant to such applicable Law, standards or contract provisions, and such examination or audit relates to the Services, then the other Party shall provide,
at the sole cost and expense of the requesting Party, all assistance reasonably requested by the Party that is subject to the examination or audit in responding to such examination or audits or requests for Information, to the extent that such
assistance or Information is within the reasonable control of the cooperating Party and is related to the Services. 

Section 9.4    Notices. Except with respect to routine communications by a TSA Manager or TSA Owner
under Section 2.6, all notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in
person, by overnight courier service or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in
accordance with this Section 9.4): 
 (i) if to Autoliv, to: 

Autoliv, Inc. 

1320 Pacific Drive 

Auburn Hills, Michigan 48326 

Attention: General Counsel 

(ii) if to Veoneer, to: 

Veoneer, Inc. 

26545 American Drive 

Southfield, Michigan 48034 

Attention: General Counsel 

Section 9.5    Severability. If any provision of this Agreement or the application thereof to any
Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or thereof, or the application of such provision to Persons or circumstances or in jurisdictions other
than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the Parties shall negotiate in good faith in an effort
to agree upon such a suitable and equitable provision to effect the original intent of the Parties. 

Section 9.6    Entire Agreement. This Agreement, together with the Distribution Agreement and the other
Ancillary Agreements, constitutes the entire agreement of the Parties with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between or on behalf of the Parties with respect to the
subject matter hereof. In the event and to the extent that there shall be a conflict between the provisions of this Agreement and the provisions of the Distribution Agreement or any other Ancillary Agreement, the Parties agree that this Agreement
shall govern. The 

  
 18 

 
Parties agree that, in the event of an express conflict between the terms of this Agreement and a Services Schedule, the terms of the Services Schedule shall govern as it relates to the Services
to which such terms and conditions apply. 
 Section 9.7    Governing Law. This Agreement shall be
governed by and construed and interpreted in accordance with the Laws of the State of Delaware, irrespective of the choice of laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability,
performance and remedies. 
 Section 9.8    Facsimile Signatures. Each Party acknowledges that it may
be executing this Agreement by facsimile, stamp or mechanical signature, and that delivery of an executed counterpart of a signature page to this Agreement (whether executed by manual, stamp or mechanical signature) by facsimile or by email in
portable document format (.pdf) shall be effective as delivery of such executed counterpart of this Agreement. Each Party expressly adopts and confirms each such facsimile, stamp or mechanical signature (regardless of whether delivered in person, by
mail, by courier, by facsimile or by email in .pdf) made in its respective name as if it were a manual signature delivered in person, agrees that it will not assert that any such signature or delivery is not adequate to bind such Party to the same
extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other Party at any time, it will as promptly as reasonably practicable cause this Agreement to be manually executed (any such execution to
be as of the date of the initial date thereof) and delivered in person, by mail or by courier. 

Section 9.9    Assignability; No Third-Party Beneficiaries. This Agreement shall be binding upon and
inure to the benefit of the other Party hereto and their respective successors and permitted assigns; provided, however, that no Party may assign its respective rights or delegate its respective obligations under this Agreement without the
express prior written consent of the other Party. Notwithstanding the foregoing, no such consent shall be required for the assignment of a party’s rights and obligations under this Agreement in whole in connection with a change of control of a
Party so long as the resulting, surviving or transferee Person assumes all the obligations of the relevant Party by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party. Nothing herein is
intended to, or shall be construed to, prohibit either Party or any member of its Group from being party to or undertaking a change of control. Except as provided in Sections 6.4 and 6.5 with respect to Indemnitees: (a) the
provisions of this Agreement are solely for the benefit of the Parties and are not intended to confer upon any Person (including, without limitation, any stockholders of Autoliv or stockholders of Veoneer) except the Parties hereto any rights or
remedies hereunder; and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third Person (including, without limitation, any stockholders of Autoliv or stockholders of Veoneer) with any remedy,
claim, Liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 9.10    Amendment. No provision of this Agreement may be amended or modified except by a
written instrument signed by each of the Parties. 
 Section 9.11    Rules of Construction.
Interpretation of this Agreement shall be governed by the following rules of construction: (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the
context requires; (b) references to the terms “Article,” “Section,” “paragraph,” “clause,” and “Schedule” are references to the Articles, Sections, paragraphs, clauses, and Schedules of this
Agreement unless otherwise specified; (c) the terms “hereof,” “herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire 

  
 19 

 
Agreement, including the Schedules hereto; (d) references to “$” shall mean U.S. dollars; (e) the word “including” and words of similar import when used in this
Agreement shall mean “including without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive; (g) references to “written” or “in writing” include in electronic form;
(h) provisions shall apply, when appropriate, to successive events and transactions; (i) the table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement; (j) Autoliv and Veoneer have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted
jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement or any interim drafts of this Agreement; and (k) a reference to
any Person includes such Person’s successors and permitted assigns. 

Section 9.12    Counterparts. This Agreement may be executed in one (1) or more counterparts, and
by each Party in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 

Section 9.13    Performance. Autoliv will cause to be performed, and hereby guarantees the performance
of, all actions, agreements and obligations set forth in this Agreement to be performed by any member of the Autoliv Group. Veoneer will cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set
forth in this Agreement to be performed by any member of the Veoneer Group. Each Party (including its permitted successors and assigns) further agrees that it will cause all of the other members of its Group not to take any action inconsistent with
such Party’s obligations under this Agreement or the transactions contemplated hereby. 

Section 9.14    Title to Intellectual Property. Except as expressly provided for under the terms of
this Agreement, the Recipient acknowledges that it shall acquire no right, title or interest (including any license rights or rights of use) in any Intellectual Property that is owned or licensed by the Provider, by reason of the provision of the
Services provided hereunder. The Recipient shall not remove or alter any copyright, trademark, confidentiality or other proprietary notices that appear on any Intellectual Property owned or licensed by the Provider. The Recipient shall not attempt
to decompile, translate, reverse engineer or make excessive copies of any Intellectual Property owned or licensed by the Provider, and the Recipient shall promptly notify the Provider of any such attempt, regardless of whether by the Recipient or
any third-party, of which the Recipient becomes aware. 
 Section 9.15    Survival of Covenants.
Except as expressly set forth in this Agreement, the covenants and other agreements contained in this Agreement, and liability for the breach of any obligations contained herein, shall survive the Distribution and shall remain in full force and
effect. 
 Section 9.16    Waivers of Default. A waiver by a Party of any default by the other Party
of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default. No failure or delay by a Party in exercising any right, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege. No waiver by any Party of any provision of this Agreement shall be effective unless
explicitly set forth in writing and executed by the Party so waiving. 
 Section 9.17    Force
Majeure. No Party shall be deemed in default of this Agreement for any delay or failure to fulfill any obligation, other than a delay or failure to make a payment, so long as and to the 

  
 20 

 
extent to which any delay or failure in the fulfillment of such obligations is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure. In the event of any
such excused delay, the time for performance shall be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this provision shall, as soon as reasonably practicable after the occurrence of any such
event, (a) provide written notice to the other Party of the nature and extent of any such Force Majeure condition; and (b) use reasonable best efforts to remove any such causes and resume performance under this Agreement as soon as
reasonably practicable. 
 [Signature page to follow.] 

  
 21 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the date first
written above by their respective duly authorized officers. 
  

			
	AUTOLIV, INC.
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	VEONEER, INC.
		
	By:	 	  

	Name:	 	  

	Its:

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