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                                                                   EXHIBIT 10.27


Visteon Holdings GmbH                                                     Page 1
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TRANSLATION OF THE GERMAN DOCUMENT, WHICH IS THE LEGALLY BINDING VERSION

Between Visteon Holdings GmbH, Koln
(hereinafter referred to as "Company")

and Mr Dr Heinz Pfannschmidt
(hereinafter referred to as "Employee")

the following is agreed:

                                  PENSION PLAN


                         1. PURPOSE OF THE PENSION PLAN

1.1    With this Pension Plan the Company has the objective in mind of providing
       to the Employee and his dependents additional financial security after
       retirement and in the event of death.

1.2    The benefits provided by this Pension Plan are paid in addition to the
       benefits provided by Social Security.

1.3    The costs of this Pension Plan are borne by the Company. The Employee
       does not have to make own contributions.


                              2. TYPES OF BENEFITS

2.1    The Company grants the following benefits:

           (a)   normal retirement pension

           (b)   early retirement pension

           (c)   disability pension

           (d)   widow's pension

           (e)   orphans' pension

2.2    The Employee and his eligible dependents have a legal right to these
       pension benefits, in accordance with the provisions of this Pension
       Plan.




                          3. NORMAL RETIREMENT PENSION


3.1    Normal retirement pension shall be paid for lifetime to the Employee if
       his service with the Company terminates upon or after attaining the
       Normal Retirement Date.


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Visteon Holdings GmbH                                                     Page 2
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3.2    The amount of normal retirement pension depends on the Pensionable
       Service Time and the Final Pensionable Earnings.

3.3    The monthly normal retirement pension equals

       0,5% of Final Pensionable Earnings up to the Applicable Social Security
       Contribution Ceiling, multiplied by the Pensionable Service Time

       plus

       1,5% of Final Pensionable Earnings in excess of the Applicable Social
       Security Contribution Ceiling, multiplied by the Pensionable Service
       Time.


                           4. EARLY RETIREMENT PENSION

4.1    Early retirement pension shall be paid upon request to the Employee if
       his service with the Company terminates after age 55.

       Early retirement pension is also paid upon request to the Employee if the
       employment is terminated due to drawing early retirement pension under
       Social Security prior to completing age 65.

4.2    If the employee meets the requirements of Section 4.1 he may select any
       month prior to attaining the Normal Retirement Date for the commencement
       of pension payments. The early retirement pension will be calculated
       according to the provisions of Section 3.3 on the basis of accrued
       Pensionable Service Time and Final Pensionable Earnings determined as of
       the date of termination of employment. The early retirement pension will
       be reduced by 0,4 % for each full month by which the chosen pension
       commencement date precedes the attainment of age 62.


                             5. DISABILITY PENSION

5.1    Disability pension shall be paid to the Employee if his service with the
       Company terminates for reasons of total disability as defined by Social
       Security.

5.2    Disability has to be proved by the relevant statement of the Social
       Security Office. Disability can also be proved by the medical report of a
       physician chosen by the Company at its expense.

5.3    The disability pension will be paid for the duration of disability. If
       disability continues until Normal Retirement Date the disability pension
       shall be paid for life.

5.4    The Employee has to inform the Company about any changes in disability.
       The Company may at any time demand a physical examination by a physician
       chosen by the Company at its expense.


5.5    The disability pension will be calculated according to the provisions of
       Section 3.3 on the basis of Pensionable Service Time which the Employee
       would have reached if his service


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Visteon Holdings GmbH                                                     Page 3
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       with the Company had continued until Normal Retirement Date and on the
       basis of Final Pensionable Earnings determined as of date of termination
       of employment.


                               6. WIDOW'S PENSION

6.1    A widow's pension shall become payable to the widow of the deceased
       Employee or Pensioner.

6.2    No widow's pension will be paid if the marriage had taken place after
       termination of employment or after the Employee had attained age 60.

6.3    The amount of the widow's pension is determined as follows:

           (a)   if the deceased former Employee received a normal retirement
                 pension from the Company in accordance with Section 3.1, or an
                 early retirement pension in accordance with Section 4.1 or a
                 disability pension in accordance with Section 5:

                 60% of the pension finally paid to the deceased.

           (b)   if the deceased Employee was entitled to an early retirement
                 pension and died before the beginning of the pension payments:

                 60% of the early retirement pension, which would have to be
                 paid if the pension would have started at the date of death.

           (c)   if the deceased Employee died while still in service with the
                 Company:

                 60% of the entitlement to a normal retirement pension in
                 accordance with Section 3.3 on the basis of Pensionable Service
                 Time which the Employee would have reached if his service with
                 the Company had continued until the Normal Retirement Date and
                 on the basis of Final Pensionable Earnings determined as of
                 date of death.

6.4    The widow's pension will be discontinued upon remarriage.


                               7. ORPHANS' PENSION

7.1    Semi-orphans' pensions shall be paid to the Children of the deceased
       Employee or Pensioner.

7.2    Full orphans' pensions shall be paid to the Children of the deceased
       Employee or Pensioner if both parents died.

7.3    The semi-orphans' pension for each Child amounts to 10%, the full
       orphans' pension for each Child amounts to 20% of the basis on which the
       widow's pension in accordance with Section 6.3 is determined.

7.4    The orphans' pension will be paid until the child attains age 18. The
       payment will be continued beyond age 18 as long as the Child is unable to
       take care of himself/herself because

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Visteon Holdings GmbH                                                     Page 4
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       of physical, mental or psychic handicap; the same applies, as long as the
       child is in full-time education and has not attained age 23

7.5    The orphans' pension will also be discontinued upon the Child's marriage
       unless the Child has no claim for maintenance against the spouse or the
       spouse cannot afford the maintenance.

7.6    Widow's and orphans' pensions or several orphans' pensions together may
       not exceed 100% of the pension basis on which they are calculated;
       otherwise the pensions are reduced proportionally by the exceeding
       amount.


                                   8. VESTING

8.1    If the Employee's service with the Company terminates for reasons other
       than normal retirement, early retirement, death, or disability he shall
       have a vested right to the benefits which are provided by this Pension
       Plan, in accordance with the provisions of this Section 8.

8.2    The benefits which are vested in accordance with Section 8.1 will be
       payable if the former Employee attains the Normal Retirement Date, if he
       draws early retirement, if he becomes disabled, or dies.

8.3    The vested benefit payable in one of the aforementioned events equals a
       fraction of the benefit which would have been payable from this Pension
       Plan if the Employee had not left the service of the Company. The
       numerator of that fraction is the former Employee's actual Credited
       Service Time and the denominator is the Credited Service Time which he
       would have attained if his employment with the Company had continued
       until Normal Retirement Date.

       The vested benefit is determined on the basis of Final Pensionable
       Earnings at the date of termination of Employment.

8.4    Upon termination of Employment the leaving Employee will be given a
       written statement by the Company informing him whether he meets the
       vesting requirements and what his vested normal retirement pension
       amounts to.


                             9. PAYMENT OF PENSIONS

9.1    The Company will pay the pensions monthly at the usual date of salary
       payments.

9.2    The first payment will be made in the month, which follows the month in
       which the prerequisites for pension payments are met. Pension payments,
       however, will be suspended as long as salary payments are continued. The
       last payment will be made in the month during which the pension
       obligation ceases to exist.

9.3    Upon the Company's or the Employee's request a part or the full pension
       benefits may be converted into a single lump sum, if legally allowed and
       provided both parties agree.

9.4    The lump sum benefit equals the actuarial present value of the pension as
       of conversion



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Visteon Holdings GmbH                                                     Page 5
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       date, based on the actuarial principles used to calculate the pension
       book reserves for the Company's tax balance sheet at conversion date. The
       applicable interest rate, however, is the interest rate used for the
       calculation of the German Book Reserve as of termination date.


                             10. TRANSFER ASSIGNMENT

The claim to benefits from this Pension Plan can neither be transferred nor
assigned by the beneficiary. Any attempt to transfer or assign any rights shall
not be recognized by the Company.


                                 11. REINSURANCE

11.1   The Company has the right to reinsure the benefits connected with the
       Pension Plan through an appropriate insurance contract. The Company will
       be entitled to all benefits of such a contract.

11.2   The employee is obliged to provide the insurance company with all
       information necessary and to undergo a medical examination, if required.





                             12. PENSION ADJUSTMENTS

After the pension payments have started, the Company will adjust the paid
pensions annually by 1%.


                                 13. DEFINITIONS

For the purpose of this Pension Plan the following definitions shall apply:


13.1   Normal Retirement Date:          The end of the month in which the
                                        employee attains age 65.

13.2   Credited Service Time:           All uninterrupted years of service (and
                                        fractions thereof) which the Employee
                                        has spent with the Company commencing
                                        with the last date of hire and ending
                                        with the earlier of:

                                        (a)  termination of employment with the
                                             Company, or

                                        (b)  commencement of pension payments
                                             from this Pension Plan, or

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Visteon Holdings GmbH                                                     Page 6
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                                        (c)  attaining the Normal Retirement
                                             Date.

13.3   Pensionable Service Time:        Credited Service Time starting at 1
                                        November 2001.

13.4   Child:                           The legitimate, illegitimate and adopted
                                        child of the Employee or the Pensioner,
                                        provided that, if the child is adopted,
                                        the adoption has taken place before
                                        termination of employment.

13.5   Applicable Social Security
       Contribution Ceiling:            The monthly average of the Social
                                        Security Contribution Ceilings of the
                                        Pension Insurance Scheme during the
                                        period specified in Section 13.8,
                                        Paragraph 1.

13.6   Pensioner:                       The former Employee who is entitled to
                                        receive a pension in accordance with the
                                        provisions of this Pension Plan.

13.7   Pensionable Earnings:            The annual base salary excluding any
                                        special payments.

                                        Special payments includes, in
                                        particular, bonus payments, vacation
                                        pay, Christmas pay or any other
                                        remuneration paid on a regular or
                                        irregular basis and which is not part of
                                        the base pay.


13.8   Final Pensionable Earnings:      The monthly average of the Pensionable
                                        Earnings (Section 13.7) in the last 60
                                        months of Credited Service Time.

                                        If the Pensionable Earnings of the
                                        period as specified in Paragraph 1 were
                                        reduced or not paid because of illness
                                        or other reasons of reduced working
                                        ability, the Pensionable Earnings that
                                        would have been payable for full working
                                        ability are taken into account.

13.9   Widow:                           The surviving wife of the Employee or
                                        Pensioner to whom he was married at the
                                        time of death.


                        14. EFFECTIVE DATE, MISCELLANEOUS

This Pension Plan becomes effective on 1 November 2001.



Mr Wilsing                                   24 October 2001
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Visteon Holdings GmbH                                                     Page 7
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Company                                           Date



Dr. Pfannschmidt                             23 October 2001
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Employee                                          Date