UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K
[x] ANNUAL REPORT PURSUANT TO
SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934
OR [ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITES EXCHANGE ACT OF 1934For the transition period from_____________ to____________ |
Securites registered pursuant to Section 12(b) of the Act:
Title of each class: |
Name of each exchange on which registered: |
|
|
Common Stock, par value $1.00 per share
Swedish Depositary Receipts |
New York Stock Exchange
Stockholm Stock Exchange |
Country/
Ownership |
|
______________________________________________________________________________________ | |
China | |
30% | Changchun Hougguang-Autoliv Vehicle Safety Systems Co. Ltd., Changchun |
50% | Nanjing Houngguan-Autoliv Safety Systems Co. Ltd., Nanjing |
45% | Shanghai-VOA Webbing Belt Co. Ltd., Shanghai |
France | |
49% | EAK SA Composants pour L'Industrie Automobile, Valentigney |
49% | EAK SNC Composants pour L'Industrie Automobile, Valentigney |
India | |
50% | Autoliv-IFB India Ltd., Bangalore |
Japan | |
50% | Nihon Steering Industries Inc., Hiroshima |
40% | NSK-Autoliv Co. Ltd., Fujisama* |
Malaysia | |
49% | Autoliv-Hirotako Safety Sdn Bhd (parent and subsidiaries), Kuala Lumpur |
45% | Furniweb-VOA Safety Webbing Sdn Bhd, Kuala Lumpur |
Taiwan | |
59% | Mei-An Autoliv Co. Ltd., Taipei** |
Thailand | |
40% | NSK Safety Technologies Co. Ltd., Bangkok* |
Country
Company |
Location of
production facility |
Current primary activities |
Argentina | ||
Autoliv Argentina SA | Buenos Aires | Seat belts, airbags |
Australia | ||
Autoliv Australia Proprietary Ltd | Melbourne | Seat belts, airbags |
VOA Webco Pty Ltd | Melbourne | Seat belt webbing |
Belgium | ||
Autoliv Belgium N.V. | Gent | Sequency plant and airbag assembly |
Brazil | ||
Autoliv do Brasil Ltda. | Taubaté | Seat belts, airbags, Steering wheels and webbing |
Canada | ||
VOA Canada, Inc | Collingwood | Seat belt webbing |
Autoliv Canada, Inc | Tilbury | Airbag cushions |
Autoliv Electronics Canada, Inc | Markham, Ontario | Airbag electronics |
China | ||
Autoliv Vehicle Safety Systems Co. Ltd | Shanghai | Airbags |
Autoliv MawHung Vehicle Safety Systems Co. Ltd | Changchun | Seat belts |
Changchun Hougguang-Autoliv Vehicle Safety System Co. Ltd | Changchun | Seat belts |
Nanjing Houngguan-Autoliv Safety Systems Co. Ltd | Nanjing | Seat belts |
Shanghai-VOA Webbing Belt Co Ltd | Shanghai | Seat belt webbing |
Estonia | ||
Norma AS | Tallinn | Seat belts |
France | ||
Autoliv France SNC | Gournay-en-Bray | Seat belts and airbags |
Autoliv Automation | Gournay | Production machinery equipment |
EAK Composants pour L'Industrie Automobile | Valentigney | Seat belts and airbags |
Isodelta SA | Poitiers | Steering wheels and covers |
Livbag | Brest | Airbag inflators |
NCS Pyrotechnie et Technologies SA | Survillier | Initiators for airbag inflators |
OEA France Pyroindustrie | Les Mureaux | Initiators for airbag inflators |
Autoliv Electronics SAS | Rouen | Airbag electronics |
Germany | ||
Autoliv GmbH | Dachau | Airbags and pretensioners |
Autoliv GmbH | Elmshorn | Seat belts |
Autoliv GmbH | Dobeln | Seat belts |
Autoliv GmbH | Braunschweig | Airbag module assembly |
Stakupress GmbH | Norderstedt | Metal components for seat belts |
Great Britain | ||
Autoliv Ltd | Havant | Seat belts and airbags |
Autoliv Spring Dynamics Ltd | Milton Keynes |
Springs for belt retractors and
height adjusters |
Airbags International Ltd | Congleton | Airbag cushions |
Spiroflex Ltd | Northampton |
Springs for belt retractors and
height adjusters |
Hungary | ||
Autoliv KFT | Sopron | Seat belts |
India | ||
Autoliv-IFB India Ltd | Bangalore | Seat belts |
Indonesia | ||
P.T. Autoliv Indonesia | Jakarta | Seat belts |
Japan | ||
Autoliv Japan Ltd | Tsukuba | Airbags |
Autoliv-Nichiyu Japan Co. Ltd | Taketoyo | Airbag inflators |
Autoliv-Izumi Japan Ltd | Atsugi | Steering wheels |
Nihon Steering Industries Inc | Hiroshima | Steering wheels |
NSK-Autoliv Co. Ltd | Fujisama | Seat belts |
Korea | ||
Autoliv Mando Corporation | Kangwondo | Airbags |
Malaysia | ||
Autoliv-Hirotako Safety Sdn Bhd | Kuala Lumpur | Seat belts and airbags |
Furniweb-VOA Safety Webbing Sdn Bhd | Kuala Lumpur | Seat belt webbings |
Mexico | ||
Autoliv de Mexico SA de CV | Toluca | Seat belts, airbags |
Autoliv Safety Technologies de Mexico SA de CV | Tijuana | Seat belts |
Autoliv Components Mexico, S. de RL. de CV. | El Marques | Airbag cushions and leather wrapping of steering wheels |
Autoliv Spring Dynamics Mexico | Lerma | Springs for belt retractors and height adjusters |
Autoliv Steering Wheels Mexico | El Marques | Steering wheels |
Netherlands | ||
Autoliv BV | Landgraaf | Seat belts and integrated child seats |
Van Oerle Alberton BV | Boxtel | Seat belt webbing |
Philippines | ||
Autoliv QB Inc | Manila | Seat belts |
Autoliv-Izumi Co | Cebu | Steering wheels |
Poland | ||
Autoliv Poland Sp z.o.o. | Olawa | Airbag cushions |
Jelcz-Laskowice | Seat belts | |
Romania | ||
Autoliv Romania SA | Brasov | Seat belts |
South Africa | ||
Autoliv Southern Africa Pty Ltd | Gauteng | Seat belts |
Spain | ||
Autoliv-KLE SAU | Barcelona | Seat belts |
Autoliv-BKI SA | Valencia | Seat belts and airbags |
Sweden | ||
Autoliv Sverige AB | Vargarda |
Airbags, seat belts and
integrated child seats |
Autoflator AB | Vargarda | Cold inflators |
Autoliv Mekan AB | Hassleholm | Components for car |
Vaxjo | seats | |
Autoliv Electronics AB | Motala | Airbag electronics and other electronic products |
Taiwan | ||
Mei-An Autoliv Co. Ltd | Taipei | Seat belts and airbags |
Thailand | ||
Autoliv Thailand Ltd | Bangkok | Seat belts, airbags and leather wrapping of steering wheels |
NSK Safety Technologies Co. Ltd | Bangkok | Seat belts |
Tunisia | ||
Autoliv Tunisia | Zriba | Seat belts |
Autoliv Steering wheels Tunisia | El Fahs and Ennadour | Leather wrapping of steering wheels |
Turkey | ||
Autoliv Cankor | Istanbul | Seat belts, airbags and steering wheels |
Autoliv Spring Dynamics Turkey | Istanbul | Springs for belt retractors and height adjusters |
USA | ||
Autoliv ASP, Inc. | Brigham City, Utah | Inflators and seat belts |
Madisonville, Kentucky | Seat belts | |
Ogden, Utah | Airbag modules | |
Ogden, Utah | Service parts | |
Ogden, Utah | Airbag cushions | |
Ogden, Utah | Inflators | |
Promontory, Utah | Gas generators | |
Colombia City, Indianapolis | Steering wheels | |
OEA, Inc. | Denver, Colorado | Inflators |
Tremonton, Utah | Airbag initiators |
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|
Location | Function |
______________________________________________________________________________________________ | |
Sweden | |
Autoliv Research, Vargarda | Research center |
Autoliv Safety Center, Vargarda | Technical center for full-scale tests, roll-overs, etc. |
Germany | |
Autoliv Germany, Dachau | Technical center with full-scale test laboratory |
Autoliv Germany, Hamburg | Full-scale test laboratory |
France | |
Autoliv France, Gournay-en-Bray | Technical center with full-scale test laboratory |
Great Britan | |
Autoliv UK, Havant | Technical center with full-scale test laboratory |
USA | |
Autoliv North America, Michigan | Technical center with full-scale test laboratory |
Autoliv Inflator, Utah | Pyrotechnic Research |
Australia | |
Autoliv Australia, Melbourne | Full-scale test laboratory |
Spain | |
Autoliv Spain, Barcelona | Full-scale test laboratory |
Japan | |
Autoliv Japan, Tsukuba | Sled testing, technical center |
Autoliv NSK, Kanagawa (JV) | Technical center with full-scale test laboratory |
SHARE PRICE AND DIVIDENDS | ||||||||||
New York
(US$) |
Stockholm
(SEK) |
Declared
Dividend |
||||||||
Period | High | Low | Close | High | Low | Close | US$ | SEK | ||
_____________________________________________________________ | ||||||||||
Q1 | 2000 | 31.81 | 23.50 | 30.00 | 272 | 204 | 239 | 0.11 | 0.94 | |
Q2 | 2000 | 29.13 | 23.75 | 24.06 | 262 | 211 | 216 | 0.11 | 1.00 | |
Q3 | 2000 | 26.13 | 19.44 | 19.50 | 235 | 189 | 190 | 0.11 | 1.04 | |
Q4 | 2000 | 23.00 | 14.50 | 15.94 | 229 | 143 | 148 | 0.11 | 1.11 | |
Q1 | 2001 | 19.42 | 14.10 | 15.64 | 185 | 138 | 159 | 0.11 | 1.09 | |
Q2 | 2001 | 20.65 | 14.50 | 17.28 | 213 | 151 | 187 | 0.11 | 1.16 | |
Q3 | 2001 | 21.63 | 13.25 | 15.74 | 228 | 145 | 163 | 0.11 | 1.14 | |
Q4 | 2001 | 20.31 | 14.75 | 20.31 | 214 | 158 | 210 | 0.11 | 1.17 | |
Q1 | 2002 | 25.90 | 19.25 | 24.24 | 268 | 197 | 249 | 0.11 | 1.15 | |
Q2 | 2002 | 25.25 | 21.30 | 25.20 | 252 | 192 | 224 | 0.11 | 1.07 | |
Q3 | 2002 | 25.40 | 19.80 | 21.08 | 234 | 182 | 195 | 0.11 | 1.02 | |
Q4 | 2002 | 22.55 | 16.75 | 20.93 | 210 | 155 | 179 | 0.11 | 1.00 |
(a) |
Within 90 days prior to filing this report, the chief executive officer and chief financial officer directed and supervised an evaluation of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-14 of the Securities Exchange Act of 1934. The evaluation was conducted to determine whether the company's disclosure controls and procedures were effective in bringing material information about the company to the attention of senior management. Based on that evaluation, our chief executive officer and chief financial officer concluded that the company's disclosure controls and procedures are effective in alerting them in a timely manner to material information that the company is required to disclose in its filings with the Securities and Exchange Commission. |
(b) |
Since our evaluation, we have made no significant changes in the design or operation or our internal controls. Likewise, we have not taken corrective actions or made changes to other factors that could significantly affect the design or operation of these controls. |
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K (a) Documents Filed as Part of this Report |
(1) |
Financial Statements The following consolidated financial statements are included on pages 28 through 42 and Selected Financial Data on page 43 of the Annual Report and are incorporated herein by reference: (i) Consolidated Statements of Income - Years ended December 31, 2002, 2001 and 2000 (page 28); (ii) Consolidated Balance Sheets - as of December 31, 2002 and 2001 (page 29); (iii) Consolidated Statements of Cash Flows - Years ended December 31, 2002, 2001 and 2000 (page 30); (iv) Consolidated Statements of Shareholders' Equity - as of December 31, 2002, 2001 and 2000 (page 31); (v) Notes to Consolidated Financial Statements (pages 32-41); (vi) Report of Independent Auditors (page 42) |
(2) |
Financial Statement Schedules All of the schedules specified under Regulation S-X to be provided by Autoliv have been omitted either because they are not applicable, they are not required, or the information required is included in the financial statements or notes thereto. |
(3) |
Index to Exhibits |
Title | Name |
Chairman of the Board of Directors |
/s/ S. Jay Stewart
S. Jay Stewart |
Chief Executive Officer and Director
(Principal Executive Officer) |
/s/ Lars Westerberg
Lars Westerberg |
Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer) |
/s/ Magnus Lindquist
Magnus Lindquist |
Director |
/s/ Per-Olof Aronson
Per-Olof Aronson |
Director |
/s/ Dionisio Garza Medina
Dionisio Garza Medina |
Director |
/s/ Wilhelm Kull
Wilhelm Kull |
Director |
/s/ Walter Kunerth
Walter Kunerth |
Director |
/s/ James M. Ringler
James M. Ringler |
Director |
/s/ Tetsuo Sekiya
Tetsuo Sekiya |
Director |
/s/ Roger W. Stone
Roger W. Stone |
Director |
/s/ Per Welin
Per Welin |
CERTIFICATIONS of CEO and CFO I, Magnus Lindquist, certify that: |
|
1. | I have reviewed this annual report on Form 10-K of AUTOLIV, INC.; |
2. | Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report; |
4. | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: |
a) | designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; | |
b) | evaluated the effectiveness of the registrants disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"). | |
c) | Presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; |
5. | The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and audit committee of registrant's board of directors (or other persons performing the equivalent functions): |
a) | all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and | |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and |
6. | The registrant's other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. |
Date: March, 12 2003
AUTOLIV, INC.
By: /s/ Magnus Lindquist
|
I, Lars Westerberg, certify that: |
|
1. | I have reviewed this annual report on Form 10-K of AUTOLIV, INC.; |
2. | Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report; |
4. | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: |
a) | designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; | |
b) | evaluated the effectiveness of the registrants disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"). | |
c) | Presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; |
5. | The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and audit committee of registrant's board of directors (or other persons performing the equivalent functions): |
a) | all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and | |
b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and |
6. | The registrant's other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. |
Date: March, 12 2003
AUTOLIV, INC.
By: /s/ Lars Westerberg
|
EXHIBIT 10.10
Autoliv Supplementary Agreement to the Employment Agreement (Agreement December 12, 2002) for XX (the Employee) The following Supplementary Agreement has been drawn up between Autoliv Inc, hereinafter called the Company, and the Employee. The Supplementary Agreement has been drawn up in respect of the Employee's early retirement pension benefits, hereinafter called Early Retirement Pension. |
1. |
The Employee has attained the age of retirement specified under the national Swedish ITP plan (supplementary pension for salaried employees in industry and commerce), hereinafter called the ordinary age of retirement. |
2. |
The Employee is ensured of the right to terminate his services and retire, at his won request, or on the instructions of the Company, as of and including the month when the Employee attains the age of 60. A mutual period of notification of six months shall be observed. It shall not be a requirement on either party to state any reason. |
3. |
Early Retirement Pension benefits will be paid as of, and including, the month when the Employee attains the age of 60 and up to, and including, the month immediately before ordinary age of retirement in an amount equivalent to 70 (seventy) percent of the current full time basic salary at the time of Early retirement. Early Retirement Pension benefits will be paid on a monthly basis in arrears. |
4. |
Early Retirement Pension benefits will be paid by the Company in the form of direct pension. In order to secure this pension undertaking, provided that the Employee is still a member of the Group's management team, the Company will purchase an endowment policy, to be owned by the Company, with the Employee as insured. The Company undertakes to pay the monthly premiums up to, and including, the month before the Employee attains the age of 60, however, only as long as the Employee remains a member of the Group management team. Otherwise the premium payments will case in the month after the month when the Employee ceased to be a member of the Group's executive team. Each month, commencing 1 January 2003, and when full time employment is in force, Early retirement is earned in accordance with the methodology of technical bases applied for insurance purposes. The policy will be pledged to the benefit of the Employee. The Company shall have a duty to inform the insurance company in regard to the pledging of the policy that has been purchased. |
5. |
When payment of Early retirement benefits has commenced, the pension amount shall be increased each year in accordance with the terms of the insurance company's bonus policy. |
6. |
Coordination shall be observed in respect of corresponding undertakings from earlier and/or current employees. The Employee shall have a duty to inform the Company with regard to the size of such undertakings (paid-up policies) that have been earned from former employers. |
7. |
During the period of Early retirement, the Employee may not without the prior consent of the Company engage in assignments and undertakings in competitive operations. |
8. |
During the period of payment, the amount of the Early retirement benefits shall, where applicable, be reduced by the amount of payments, made simultaneously, in the form of: |
- |
sickness benefits, disability pension or temporary disability pension in accordance with the provisions of the National Insurance Act |
|
- |
sickness benefits, life annuity in accordance with the provisions of employer's liability insurance |
|
- |
disability pension in accordance with the ITP plan, including any other compensation from health insurance purchased by the Company, or |
|
- |
on grounds of statutory compensation requirements. |
|
Calculations in respect of coordination of the size of deductions shall be performed in accordance with the general insurance terms and rules otherwise established by SPP. |
|
9. |
If the Employee is no longer a member of the Group's executive team, but his employment with the company is still in force, the Employee shall have the right to Early retirement based on the paid-up value of the policy at such point in time. The paid-up value of such policy shall be adjusted upwards annually in accordance with SPP's supplementary pension up to the date for payment of Early retirement. |
10. |
In the event that employment at the Company ceases on grounds of notice of termination or dismissal before the age of 60, then Early retirement shall be based on the paid-up value of the policy at such point in time. The paid-up value of such policy shall be shall be adjusted upwards annually in accordance with SPP's supplementary pension up to the date for payment of Early retirement. |
11. |
In the event that the Employee suffers disablement, fully or partially, and thereby receives sickness benefits, disability pension or temporary disability pension in accordance with the provisions of the National Insurance Act, then Early Retirement Pension will nonetheless be earned in full in accordance with the terms of this Agreement. |
12. |
Provided that the Employee is still a member of the Group's executive team, the Company shall undertake, in connection with early retirement, either through SPP or in some other manner, to ensure that the Employee shall receive the same pension benefits after attainment of ordinary age of retirement, or at death before such date, as if the Employee has remained in the services of the Company up to the ordinary age of retirement with unchanged pension-bearing salary. |
13. |
With regard to matters that are not specifically regulated by the terms of this Agreement, the insurance company's terms and conditions as well as insurance documentation in its pertinent parts, shall apply. |
14. |
Employer's contribution tax, or similar taxes or fees for which the Company may become liable in connection with pension payments, shall be paid by the Company. |
15. |
The Company states as a condition for any new owner (direct or indirect, through purchase, merger, consolidation or any other manner) of the entire, or major parts of the Company's business operations and/or assets, to assume and uphold the conditions of this Supplementary Agreement in the same manner and to the same extent as the Company would have done if no new owner was found. Negligence on the part of the Company to obtain such an undertaking or agreement from a new owner prior to such transfer coming into force, shall be equivalent to breach of contract, whereby the Employee shall have the right compensation from the Company in an equivalent amount, and on the same terms, to which the Employee would otherwise have had the right in accordance with the terms and conditions of this Supplementary Agreement. |
16. |
The terms and conditions of this Supplementary Agreement have been drawn up in accordance with the rules governing the national pension plan, pension terms under the terms of collective agreements, taxation laws, etc, which were known at the time when this Supplementary Agreement was signed. If circumstances change to any great degree, the Company has the right and the obligation to adjust the terms and conditions of this Agreement, however, with due consideration of the underlying objective of this Supplementary Agreement. |
This Agreement replaces the supplementary agreement dated 14 December 1999 in respect of early retirement. Dated: 12 December 2002
Signed:
|
EXHIBIT 10.11
PENSION AGREEMENT
1. ITP-pension
2. Pension bearing salary
3. Supplementary lifelong old age pension
30 times the income base amount - 75 times the income base amount: 32.5 percent Payments of pensions benefits will be adjusted upwards as per 1 January each year, in line with changes in the consumer price index, calculated from September two years before the payment year up to September of the year immediately prior to the payment year. Old age retirement benefits will be paid monthly in arrears.
4. Supplementary disability pension
In the case of sickness benefits:
In the case of temporary disability pension or sickness allowance:
If disablement is not 100% and is only partial, the disability pension benefits will be paid in proportion to the degree of disability. Payments of pension benefits will be adjusted upwards as per 1 January each year, in line with changes in the consumer price index, calculated from September two years before the payment year up to September of the year immediately prior to the payment year. Disability pension benefits will be paid monthly in arrears.
5. Supplementary survivorship benefits
Survivorship benefits will be paid, in the first place to spouse/partner, and in the second place to children under the age of 20 who have right of inheritance. The spouse/partner has the right to abstain from all, or part, of his/her rights in favour of children, irrespective of their ages. The following portions of the pension bearing salary will be paid as survivorship benefits. 30 times the income base amount - 75 times the income base amount: 16.25 percent Payments of pension benefits will be adjusted upwards as per l January each year, in line with changes in the consumer price index, calculated from September two years before the payment year up to September of the year immediately prior to the payment year. Survivorship benefits will be paid monthly in arrears.
6. Conversion into a paid-up policy
The accrued paid-up policy will be adjusted upwards annually in line with changes in the consumer price index, calculated from September two years before the current year up to September of the year immediately prior to the current year.
7. Measures to safeguard pension undertakings
8. Coordination
9. Changes in legislation or the national Swedish ITP-plan
10. Other
Employer's contribution tax, and similar taxes or fees, which may be charged to the Company in connection with payment of the pension benefits, shall be paid by the Company. Any provisions that are not specifically regulated under the terms of this Agreement, shall be regulated in accordance with Skandia Life Insurance Company Ltd's and SPP Life Insurance Company Ltd's insurance terms and conditions, in their pertinent parts.
11. Disputes
Stockholm, __________________ [date] Autoliv AB ____________________ ___________________The Employee |
Autoliv Inc. | Appointee |
|
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____________________________ | ____________________________ |
Hans-Göran Patring | Name |