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Employment Agreement, dated July 14, 2016, between Autoliv, Inc. and Christian Hanke

Contract Categories: Human Resources - Employment Agreements
EX-10.2 2 alv-ex102_269.htm EX-10.2 alv-ex102_269.htm


Exhibit 10.2


Employment Agreement


The following employment agreement has been entered into by and between Autoliv AB, hereinafter referred to as the "Company", and Christian Hanke, hereinafter referred to as the "Employee".




General Provisions


The Employee shall be employed for an undetermined period of time by Autoliv AB as Vice President Corporate Control commencing on January 14, 2017. The parties may agree on an earlier start date.


The position is full-time and governed by the Swedish Employment Protection Act.


The Employee's place of work is Stockholm where all duties will be carried out, except for ordinary business trips.


In the event of a transfer to any other assignment within the Company or significant change of position, the employment conditions will be reviewed.


Duties and Area of Responsibility

The Employee undertakes to carry out such duties as the Company from time to time may impose on the Employee and as are naturally related to the Employee’s position.


General Obligations

The employment relationship shall be based on mutual loyalty and the promotion of the interests of the Company and, the Employee shall, during the term of employment and thereafter hold in complete confidence information concerning the Company’s products, business relationships, and other matters, which are not intended for any third party.


The employee shall perform his duties acknowledging the Company’s Code of Conduct.


Prohibition of misuse of insider information

The employee has received the Company’s insider dealing rules and has acquainted himself with them, and he undertakes to follow these rules.


Intellectual property rights

All intellectual property rights (including future rights, the right to assign and the right to modify) to the results of the Employee’s work shall be assigned by this contract to the Company within the limits of applicable law without separate compensation, unless agreed in writing.


Initials of the parties




Side-line Occupation


Competing Activities

The Employee may not, during the term of employment, be employed by, or have an assignment for, or in any other way, directly or indirectly, conduct any business within the field of activities of the Company or in any other manner be active within an area relating to such field.


Other Activities

The Employee may not, without the written consent of his direct manager accept any other position or assignment for which he receives compensation.




Compensation and Benefits


Base Salary

The Employee shall receive a fixed annual salary of SEK 1.500.000 in 2017 year’s salary level.


Compensation for travelling time and overtime shall be included in the fixed salary.

A review of the fixed salary shall be made annually, the first time in January 2018.



Bonus is paid according to each time applicable rules and principles within the company for employees at equivalent level. Until otherwise changed the target bonus shall be 25% with a cap of 50% of the employees’ base salary.


The employee will be entitled to participate in the above mentioned bonus program for the full year 2016 (not pro-rated for the time worked), to compensate for any potential loss with the previous company (If a bonus is paid by the previous company for the year 2016, it will be deducted from the bonus payment from Autoliv for the year 2016, given the employee has started his employment with Autoliv earlier than December 1, 2016.)


Equity Incentive program

The employee will be eligible to participate in Autoliv’s Stock Incentive Plan 2017, provided that the plan has been approved by the Board of Directors.


Health care


The company will provide the employee with a yearly health examination according to the company’s policy for health care applicable from time to time.




Other Employment Terms


The Employee shall be entitled to 30 days holiday per calendar year.


Initials of the parties



The employee is covered by an occupational pension plan (Industrins Tilläggspension, ITP2) according to applicable collective agreement.





Notice of termination

The period of notice of termination is six (6) months when given by the Employee and six (6) when given by the Company.


Conditions during the notice period


During the notice period or any part thereof, the Company shall be entitled, with immediate effect, to release the Employee from his duties concerning Company affairs. If the Employee is released from his duties during the notice period the Employee is entitled, by written consent by his direct manager to take up employment with another Employer or start his own business.





In relation to those aspects which are not governed by this contract, the terms and conditions for the Employee's employment correspond to the terms and conditions set forth in the collective agreements and regulations applicable to the Company.


The contents of this employment agreement, or any part thereof, may not be disclosed to any third party unless otherwise required by law or where the parties agree thereto.


All material, including copies, in possession of the Employee as a consequence of his employment with the Company shall be returned to the Company upon termination of the employment, or when the Employee resigns from his position during the period of notice of termination.


Benefits pursuant to this employment agreement may be deemed to be taxable benefits pursuant to tax legislation applicable from time to time.  The Company shall not pay compensation in respect of any amendment to the tax legislation.


This employment agreement has been executed in two originals, identical counterparts of whom each party has received one.


Stockholm, July 14, 2016


Stockholm, July 14, 2016


Autoliv AB





Mats Backman


Christian Hanke

CFO, Group VP Finance




Initials of the parties