Common use of Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason Clause in Contracts

Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause, or the Executive shall terminate employment for Good Reason, then, and only if within forty-five (45) days after the Date of Termination the Executive shall have executed a separation agreement containing a full general release of claims and covenant not to xxx, in the form provided by the Company, and such separation agreement shall not have been revoked within such time period, within sixty (60) days after the Date of Termination (or such later date as may be required pursuant to Section 21(c) herein), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to one and a half times (1.5x) the Executive’s Base Salary as in effect immediately prior to the Date of Termination. If a Change in Control event takes place within 12 months following the effective date of the listing of Veoneer’s common stock, and if the Executive’s employment is terminated by Veoneer, Inc. without Cause during the same period, the Executive will receive a severance payment equivalent to 6 months of base salary in addition to the regular termination related payments according to the Agreement. For this purpose, a “Change in Control” means the occurrence of any of the following: • except in the case of issuances of securities by Veoneer or acquisitions of securities directly from Veoneer, any person acquiring a 20% or more ownership interest in the outstanding combined voting power of Veoneer’s then outstanding securities; or • the consummation of a merger or consolidation of Veoneer, unless the beneficial owners of Veoneer’s outstanding combined voting power immediately prior to the transaction continue to own 60% or more of the outstanding combined voting power of the surviving corporation and no person acquires a 20% or more ownership interest in the outstanding combined voting power of the surviving corporation, or • the sale or other disposition of all or substantially all of Veoneer’s assets, or a complete liquidation or dissolution of Veoneer,

Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause, or the Executive shall terminate employment for Good Reason, then, and only if within forty-five (45) days after the Date of Termination the Executive shall have executed a separation agreement containing a full general release of claims and covenant not to xxx, in the form provided by the Company, and such separation agreement shall not have been revoked within such time period, within sixty (60) days after the Date of Termination (or such later date as may be required pursuant to Section 21(c) herein), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to one and a half times (1.5x) the Executive’s Base Salary as in effect immediately prior to the Date of Termination. In addition, the Company shall pay all relevant social costs attributable to such lump sum severance payment, in accordance with relevant Swedish law. If a Change in Control event takes place within 12 months following the effective date of the listing of Veoneer’s common stock, and if the Executive’s employment is terminated by Veoneer, Inc. without Cause during the same period, the Executive will receive a severance payment equivalent to 6 months of base salary in addition to the regular termination related payments according to the Agreement. For this purpose, a “Change in Control” means the occurrence of any of the following: • except in the case of issuances of securities by Veoneer or acquisitions of securities directly from Veoneer, any person acquiring a 20% or more ownership interest in the outstanding combined voting power of Veoneer’s then outstanding securities; or • the consummation of a merger or consolidation of Veoneer, unless the beneficial owners of Veoneer’s outstanding combined voting power immediately prior to the transaction continue to own 60% or more of the outstanding combined voting power of the surviving corporation and no person acquires a 20% or more ownership interest in the outstanding combined voting power of the surviving corporation, or • the sale or other disposition of all or substantially all of Veoneer’s assets, or a complete liquidation or dissolution of Veoneer,

Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause, or the Executive shall terminate employment for Good Reason, then, and only if within forty-five (45) days after the Date of Termination the Executive shall have executed a separation agreement containing a full general release of claims and covenant not to xxx, in the form provided by the Company, and such separation agreement shall not have been revoked within such time period, within sixty (60) days after the Date of Termination (or such later date as may be required pursuant to Section 21(c) herein), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to one and a half times (1.5x) the Executive’s Base Salary as in effect immediately prior to the Date of Termination. In addition, the Company shall pay all relevant social costs attributable to such lump sum severance payment, in accordance with relevant Swedish law. If a Change in Control event takes place within 12 months following the effective date of the listing of Veoneer’s common stock, and if the Executive’s employment is terminated by Veoneer, Veoneer Inc. without Cause during the same period, the Executive will receive a severance payment equivalent to 6 months of base salary in addition to the regular termination related payments according to the Agreement. For this purpose, a “Change in Control” means the occurrence of any of the following: • except in the case of issuances of securities by Veoneer or acquisitions of securities directly from Veoneer, any person acquiring a 20% or more ownership interest in the outstanding combined voting power of Veoneer’s then outstanding securities; or • the consummation of a merger or consolidation of Veoneer, unless the beneficial owners of Veoneer’s outstanding combined voting power immediately prior to the transaction continue to own 60% or more of the outstanding combined voting power of the surviving corporation and no person acquires a 20% or more ownership interest in the outstanding combined voting power of the surviving corporation, or • the sale or other disposition of all or substantially all of Veoneer’s assets, or a complete liquidation or dissolution of Veoneer,

Termination by the Company Other Than for Cause; Termination by the Executive for Good Reason. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause, or the Executive shall terminate employment for Good Reason, then, and only if within forty-five (45) days after the Date of Termination the Executive shall have executed a separation agreement containing a full general release of claims and covenant not to xxx, in the form provided by the Company, and such separation agreement shall not have been revoked within such time period, within sixty (60) days after the Date of Termination (or such later date as may be required pursuant to Section 21(c) herein), the Company shall pay to the Executive a lump sum severance payment, in cash, equal to one and a half times (1.5x) the Executive’s Base Salary as in effect immediately prior to the Date of Termination. In addition, the Company shall pay all relevant social costs attributable to such lump sum severance payment, in accordance with relevant Swedish law. For purposes of the Prior Agreement, neither the Spin-Off nor the termination of the Executive’s employment with Autoliv or any other changes to the terms and conditions of the Executive’s employment in connection with the Spin-Off shall constitute an event that would permit the Executive to terminate his employment for “Good Reason” (as defined in the Prior Agreement) or a termination of the Executive’s employment by Autoliv other than for “Cause” (as defined in the Prior Agreement). If a Change in Control event takes place within 12 months following the effective date of the listing of Veoneer’s common stock, and if the Executive’s employment is terminated by Veoneer, Inc. without Cause during the same period, the Executive will receive a severance payment equivalent to 6 months of base salary in addition to the regular termination related payments according to the Agreement. For this purpose, a “Change in Control” means the occurrence of any of the following: • except in the case of issuances of securities by Veoneer or acquisitions of securities directly from Veoneer, any person acquiring a 20% or more ownership interest in the outstanding combined voting power of Veoneer’s then outstanding securities; or • the consummation of a merger or consolidation of Veoneer, unless the beneficial owners of Veoneer’s outstanding combined voting power immediately prior to the transaction continue to own 60% or more of the outstanding combined voting power of the surviving corporation and no person acquires a 20% or more ownership interest in the outstanding combined voting power of the surviving corporation, or • the sale or other disposition of all or substantially all of Veoneer’s assets, or a complete liquidation or dissolution of Veoneer,