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                                                                   EXHIBIT 10.14

                               VISTEON CORPORATION

                           DEFERRED COMPENSATION PLAN

                           FOR NON-EMPLOYEE DIRECTORS

SECTION 1.        EFFECTIVE DATE

         The Board of Directors of Visteon Corporation have adopted this
         Deferred Compensation Plan, effective October 11, 2000, for the benefit
         of the non-employee directors of Visteon Corporation.

SECTION 2.        DEFINITIONS

         When used herein the following words and phrases shall have the
         meanings set forth below unless the context clearly indicates
         otherwise:

         (a)      "Account" means the recordkeeping account maintained by the
                  Company in the name of the Participant. An Account is
                  established for record keeping purposes only and not to
                  reflect the physical segregation of assets on the
                  Participant's behalf, and may consist of such subaccounts or
                  balances as the Committee may determine to be necessary or
                  appropriate, including the following:

                  1.       "Voluntary Deferral Subaccount" means the Visteon
                           Stock Units that are credited to the Participant's
                           Account as a result of the Participant's election to
                           make Voluntary Deferrals.

                  2.       "Restricted Stock Subaccount" means the Visteon Stock
                           Units that are credited to the Participant's Account
                           as a result of the Participant's election to make
                           Restricted Stock Deferrals.

                  3.       "Dividend Subaccount" means the Visteon Stock Units
                           that are credited to the Participant's Account as a
                           result of deemed dividends on Visteon Stock Units
                           credited to the Participant's Account.

         (b)      "Administrative Committee" means the non-participating members
                  of the Board.

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         (c)      "Board" means the Board of Directors of the Company.

         (d)      "Code" means the Internal Revenue Code of 1986, as interpreted
                  by regulations and rulings issued pursuant thereto, all as
                  amended and in effect from time to time.

         (e)      "Company" means Visteon Corporation, or any successor thereto.

         (f)      "Company Stock" means the common stock of the Company, par
                  value $1.00.

         (g)      "Exchange" means the New York Stock Exchange.

         (h)      "Participant" means each member of the Board who is not a
                  common-law employee of the Company.

         (i)      "Plan" means the Visteon Corporation Deferred Compensation
                  Plan for Non-Employee Directors, as amended from time to time.

         (j)      "Plan Year" means the period beginning on the effective date
                  of the Plan and ending on December 31, 2000, and thereafter,
                  the twelve month period beginning on January 1 and ending
                  December 31 of each year.

         (k)      "Restricted Stock" means Company Stock that is awarded to the
                  Participant under the Restricted Stock Plan or that would have
                  been awarded under such plan but for the Participant's
                  election to make Restricted Stock Deferrals.

         (l)      "Restricted Stock Deferrals" means the Visteon Stock Units
                  that are credited to a Participant's Restricted Stock
                  Subaccount as a result of the Participant's election, pursuant
                  to the Restricted Stock Plan, to receive Visteon Stock Units
                  under this Plan in lieu of a grant of Restricted Stock under
                  the Restricted Stock Plan.

         (m)      "Restricted Stock Plan" means the Visteon Corporation
                  Restricted Stock Plan for Non-Employee Directors, as amended
                  and in effect from time to time.

         (n)      "Visteon Stock Units" mean the hypothetical shares of Company
                  Stock that are credited to a Participant's Account in
                  accordance with Sections 4, 5 and 6.

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         (o)      "Voluntary Deferrals" mean cash remuneration that would
                  otherwise be paid to a Participant but that, in accordance
                  with the Participant's election, is converted into Visteon
                  Stock Units and credited to the Participant's Voluntary
                  Deferral Subaccount.

SECTION 3.        ADMINISTRATION

         (a)      General Authority. The Administrative Committee shall have the
                  full power and discretionary authority to: (1) interpret and
                  administer the Plan and any instrument relating to or made
                  under the Plan; (2) establish, amend, suspend or waive such
                  rules and regulations and appoint such agents as it shall deem
                  appropriate for the proper administration of the Plan; and (3)
                  make any other determination, and take any other action, that
                  the Administrative Committee deems necessary or desirable for
                  the administration of the Plan. The decisions and
                  determinations of the Administrative Committee need not be
                  uniform and may be made differently among Participants, and
                  shall be final, binding and conclusive on all interested
                  parties.

         (b)      Recordkeeping. The Administrative Committee shall be
                  responsible for maintaining all Accounts; provided that the
                  Administrative Committee may in its discretion appoint or
                  remove a third-party recordkeeper to maintain the Accounts as
                  provided herein.

         (c)      Effectiveness of Elections. Any elections or beneficiary
                  designations made under this Plan shall be effective only upon
                  the delivery of the appropriate form to the Secretary of the
                  Company and its acceptance by the Administrative Committee.

SECTION 4.        VOLUNTARY DEFERRALS

         (a)      Voluntary Deferrals. Each Participant may elect, in such form
                  and manner specified by the Administrative Committee, to defer
                  the receipt of any cash remuneration to be earned with respect
                  to services to be performed as a non-employee member of the
                  Board after the effective date of the election. Such election
                  shall be irrevocable for the Plan Year for which it is made,
                  and shall be

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                  effective on the first day of the Plan Year following its
                  acceptance by the Administrative Committee, provided that a
                  Participant may elect within 30 days of first becoming a
                  Participant to have an election take effect immediately with
                  respect to any compensation that a Participant may receive in
                  the future and as to which the Participant currently has no
                  legal right or claim through the rendering of past services.
                  An election shall continue in effect for subsequent Plan Years
                  unless modified by the Participant in accordance with this
                  Section 4(a). A Participant may modify an existing election
                  effective on the first day of the Plan Year following the date
                  on which the revised election is accepted by the
                  Administrative Committee.

         (b)      Conversion to Visteon Stock Units. As of the last day of each
                  month, all Voluntary Deferrals made by or on behalf of a
                  Participant during that month shall be converted, for
                  recordkeeping purposes, into whole and fractional Visteon
                  Stock Units, with fractional units calculated to four decimal
                  places, with the resulting Visteon Stock Units being credited
                  to the Participant's Voluntary Deferral Subaccount. The
                  conversion shall be accomplished by dividing each
                  Participant's Voluntary Deferrals by the average of the high
                  and low prices at which a share of Company Stock shall have
                  been sold regular way on the Exchange on the last day of such
                  month on which the Exchange is open to transact trades.

         (c)      Vesting. Each Participant shall at all times be 100% vested in
                  his or her Voluntary Deferral Subaccount.

SECTION 5.        RESTRICTED STOCK DEFERRALS

         (a)      Restricted Stock Deferrals. The Restricted Stock Subaccount of
                  a Participant who has made and has in effect an election to
                  make Restricted Stock Deferrals shall be credited with a
                  number of Visteon Stock Units equal to the number of shares of
                  Restricted Stock that would otherwise have been issued to the
                  Participant under the Restricted Stock Plan.

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         (b)      Vesting. A Restricted Stock Subaccount shall be subject to the
                  same vesting standards as would have applied under the
                  Restricted Stock Plan had the Participant elected to receive
                  Restricted Stock under that plan rather than Visteon Stock
                  Units under this Plan.

SECTION 6.        DIVIDEND EQUIVALENTS

         (a)      Conversion to Visteon Stock Units. Any cash dividends that
                  would have been payable in any month on the Visteon Stock
                  Units credited to a Participant's Account had such units been
                  actual shares of Company Stock shall be converted, for
                  recordkeeping purposes, into whole and fractional Visteon
                  Stock Units, with fractional units calculated to four decimal
                  places, with the resulting Visteon Stock Units credited to the
                  Participant's Dividend subaccount. The conversion shall be
                  accomplished by dividing the Participant's deemed dividends
                  for the month by the average of the high and low prices at
                  which a share of Common Stock shall have been sold regular way
                  on the Exchange on the last day of such month on which the
                  Exchange is open to transact trades.

         (b)      Vesting. Each Participant shall at all times be 100% vested in
                  his or her Dividend Subaccount.

SECTION 7.        DISTRIBUTIONS

         (a)      Distribution Election. Distribution of a Participant's vested
                  Account shall be made or commence to be made on or about
                  January 15 of the calendar year following the calendar year in
                  which the Participant terminates service as a non-employee
                  director of the Company in the form or forms of distribution
                  elected by the Participant. The Participant may elect to have
                  a distribution made either in (i) a single sum, or (ii) ten
                  (10) annual installments. Such election shall be irrevocable
                  with respect to deferrals (and dividends thereon) for the Plan
                  Year for which it is made, and shall be effective on the first
                  day of the Plan Year following its acceptance by the
                  Administrative Committee, provided that a Participant may
                  elect within 30 days of first becoming a Participant to have
                  an election take effect

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                  immediately with respect to any compensation that the
                  Participant has elected to defer. An election shall continue
                  in effect for amounts deferred in subsequent Plan Years (and
                  dividends thereon) unless modified by the Participant in
                  accordance with this Section 7. A Participant may modify an
                  existing election effective on the first day of the Plan Year
                  following the date on which the revised election is accepted
                  by the Administrative Committee, and such revised election
                  shall apply to amounts deferred after the effective date of
                  such election. A Participant who fails to make any
                  distribution election shall be deemed to have elected the
                  single sum payment option.

                  1.       Single Sum Distribution. If the Participant has
                           elected the single sum distribution option, the
                           Company, in accordance with directions from the
                           Administrative Committee, will distribute to the
                           Participant shares of Company Stock equal to the
                           number of Visteon Stock Units credited to the
                           Participant's Account (and cash in lieu of any
                           fractional unit) for which such election is in
                           effect; provided that the Administrative Committee
                           may direct that all or any part of the Participant's
                           distribution be satisfied in cash rather than by a
                           distribution of Company Stock, in which case the cash
                           payment shall be determined by multiplying the number
                           of Visteon Stock Units in the Participant's Account
                           that are the subject of the cash payment by the
                           average of the high and low prices at which a share
                           of Company Stock shall have been sold regular way on
                           the Exchange on the 5th trading day preceding the
                           date on which distribution is made.

                  2.       Installment Distributions. If the Participant has
                           elected the installment distribution option, the
                           first installment will be paid on or about January 15
                           of the calendar year following the calendar year in
                           which the Participant terminates service as a
                           non-employee member of the Board, and each subsequent
                           installment will be paid on or about January 15 of
                           each succeeding year during the installment period.
                           The annual installment distribution amount for any
                           year shall be initially determined on a share basis
                           by dividing the number of Visteon Stock Units
                           credited to

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                           the Participant's Account as of January 1 of the year
                           for which the distribution is being made and for
                           which such an election is in effect by the number of
                           installment payments remaining to be made, and then
                           rounding the quotient obtained for all but the final
                           installment to the next lowest whole number. The
                           Company, in accordance with directions from the
                           Administrative Committee, will distribute to the
                           Participant shares of Company Stock equal to the
                           number of Visteon Stock Units that are being redeemed
                           as part of the installment (and cash in lieu of any
                           fractional unit); provided that the Administrative
                           Committee may direct that all or any part of the
                           installment distribution be satisfied in cash rather
                           than by a distribution of Visteon Stock, in which
                           case the cash payment shall be determined by
                           multiplying the number of Visteon Stock Units in the
                           Participant's Account that are the subject of the
                           cash payment by the average of the high and low
                           prices at which a share of Company Stock shall have
                           been sold regular way on the Exchange on the 5th
                           trading day preceding the date on which distribution
                           is made.

         (b)      Securities Restrictions. With respect to any shares of Company
                  Stock distributed to a Participant, the Participant will not
                  sell or otherwise dispose of such Company Stock except
                  pursuant to an effective registration statement under the
                  Securities Act of 1933, as amended (the "Act") and applicable
                  state securities laws, which the Company may but shall not be
                  required to file, or in a transaction which, in the opinion of
                  counsel for the Company, is exempt from such registration, and
                  a legend may be placed on the certificates for the Company
                  Stock to such effect. In addition, in the event of any
                  underwritten public offering of the Company's securities
                  pursuant to an effective registration statement filed under
                  the Act and upon the request of the Company or the
                  underwriters managing any underwritten offering of the
                  Company's securities, the Participant shall not directly or
                  indirectly sell, make any short sale of, loan, hypothecate,
                  pledge, offer, grant or sell any option or other contract for
                  the purchase of, or otherwise dispose of or transfer, or agree
                  to engage in any of the foregoing transactions with respect
                  to, any shares of Company Stock (other than those included in
                  the registration)

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                  acquired under this Plan without the prior written consent of
                  the Company or such underwriters, as the case may be, for such
                  period of time (not to exceed 180 days) from the effective
                  date of such registration as may be requested by the Company
                  or such managing underwriters.

SECTION 8.        BENEFICIARY

         (a)      Death Benefits. If a Participant dies before his or her entire
                  Account has been distributed, then the remainder of the
                  Participant's Account shall be distributed in a lump sum to
                  the Participant's beneficiary as soon as practicable following
                  the date of the Participant's death.

         (b)      Designation of Beneficiary. Each Participant may designate one
                  or more beneficiaries in such form and manner specified by the
                  Administrative Committee, which beneficiary shall be entitled
                  to receive the balance of the Participant's Account as
                  provided under subsection (a) in the event of the
                  Participant's death. The Participant may from time to time
                  revoke or change the beneficiary without the consent of any
                  prior beneficiary by filing a new designation with the
                  Secretary of the Company. The last such designation received
                  by the Secretary of the Company shall be controlling. If no
                  beneficiary designation is in effect at the time the
                  Participant dies, or if no designated beneficiary survives the
                  Participant, the Participant's beneficiary shall be the
                  Participant's estate.

SECTION 9.        SOURCE OF BENEFITS

         Benefits accumulated under the Plan shall constitute an unfunded,
         unsecured promise by the Company to provide such payments in the
         future, as and to the extent such amounts become payable. Benefits
         attributable to service as a non-employee member of the Board shall be
         paid from the general assets of the Company, and no person shall, by
         virtue of this Plan, have any interest in such assets, other than as an
         unsecured creditor of the Company.

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SECTION 10.       NON-ALIENATION

         Except as otherwise expressly provided by this Plan, neither the
         Participant nor his or her beneficiary or beneficiaries, including,
         without limitation, the Participant's executors and administrators,
         heirs, legatees, distributees, and any other person or persons claiming
         any benefits through the Participant under this Plan shall have any
         right to assign, transfer, pledge, hypothecate, sell, transfer,
         alienate and encumber or otherwise convey the right to receive any
         benefits hereunder, which benefits and the rights thereto are expressly
         declared to be nontransferable. The right to receive benefits under
         this Plan also shall not be subject to execution, attachment,
         garnishment, or similar legal, equitable or other process for the
         benefit of the Participant's or beneficiary's creditors. Any attempted
         assignment, transfer, pledge hypothecation or other disposition of the
         Participant's or beneficiary's rights to receive benefits under this
         Plan or the levy of any attachment, garnishment or similar process
         thereupon, shall be null and void and without effect.

SECTION 11.       CHANGE IN CONTROL

         In the event of a Change in Control of the Company, a Participant's
         Account shall be fully vested, notwithstanding any vesting schedule
         that would otherwise be applicable, and the value of the Participant's
         Account, determined as of the date of the Change in Control, shall be
         immediately paid to the Participant in a single sum cash payment,
         notwithstanding any prior distribution election made by the
         Participant. For purposes of this Section 11, the term "Change in
         Control" has the same meaning as in the Visteon Corporation Restricted
         Stock Plan for Non-Employee Directors.

SECTION 12.       DURATION OF PLAN

         Unless terminated earlier pursuant to Section 13, this Plan shall
         remain in effect during the term of service of the Participants and
         until the Account of each Participant has been distributed as provided
         herein.

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SECTION 13.       AMENDMENT AND TERMINATION

         The Board reserves the right to amend or terminate this Plan at any
         time; provided that the authority of the Administrative Committee to
         administer the Plan shall extend beyond the date of the Plan's
         termination; and provided further that no amendment or termination of
         the Plan shall adversely affect the rights of any Participant or
         beneficiary to benefits then accrued without the written consent of the
         affected Participant or beneficiary.

SECTION 14.       MISCELLANEOUS

         (a)      Governing Law. This Plan shall be governed by and construed in
                  accordance with the internal laws of the State of Delaware,
                  without reference to conflict of law principles thereof.

         (b)      Severability. If any provision of the Plan is or becomes or is
                  deemed to be invalid, illegal or unenforceable in any
                  jurisdiction or as to any person, or under any law deemed
                  applicable by the Administrative Committee, such provision
                  shall be construed or deemed amended to conform to applicable
                  laws, or if it cannot be so construed or deemed amended
                  without, in the determination of the Administrative Committee,
                  materially altering the intent of the Plan, such provision
                  shall be stricken as to such jurisdiction or person, and the
                  remainder of the Plan shall remain in full force and effect.

         (c)      Successors and Assigns. The Plan shall be binding upon, and
                  inure to the benefit of, the Company and its successors and
                  assigns, and upon any person acquiring, whether by merger,
                  consolidation, purchase of assets or otherwise, all or
                  substantially all of the Company's assets and business.

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