Common use of Assignment and Transfer of Employees Clause in Contracts

Assignment and Transfer of Employees. Effective no later than immediately prior to the Effective Time and except as otherwise agreed by the Parties or as required by applicable Law, (i) the applicable member of the Autoliv Group or the Veoneer Group shall have taken such actions as are necessary to ensure that each Veoneer Group Employee is employed by a member of the Veoneer Group as of the Effective Time, and (ii) the applicable member of the Autoliv Group or the Veoneer Group shall have taken such actions as are necessary to ensure that each individual who is an Autoliv Group Employee is employed by a member of the Autoliv Group as of the Effective Time. Each of the Parties agreed to execute, and to seek to have the applicable Employees execute, such documentation, if any, as may be necessary to reflect such assignment and/or transfer.