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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.

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

         (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)      "Visteon Stock Units" mean the hypothetical shares of Company
                  Stock that are credited to a Participant's Account as a result
                  of the Participant's Voluntary Deferrals.

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         (l)      "Voluntary Deferrals" mean 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 Account.

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. DEFERRALS AND CREDITS TO ACCOUNT

         (a)      Participant 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 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 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.



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         (b)      Credits to Accounts. 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 shares of Visteon Stock
                  Units, with fractional shares calculated to four decimal
                  places. 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.
                  Likewise, any dividends that would have been payable on the
                  Visteon Stock Units credited to a Participant's Account had
                  such units been actual shares of Company Stock during any
                  month shall be converted, for recordkeeping purposes, into
                  whole and fractional Visteon Stock Units based on 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.

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

SECTION 5. DISTRIBUTIONS FROM ACCOUNTS

         (a)      Distribution Election. Distribution of a Participant's 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 the deferrals (and earnings 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 immediately with respect to any
                  compensation that the Participant has elected to defer. An
                  election shall continue in effect for compensation deferred in
                  subsequent Plan Years unless modified by the Participant in
                  accordance with this Section 5. 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 compensation 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 share) 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 Visteon Stock, in which case the cash


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                           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 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 share); 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) acquired under this Plan without the prior
                  written consent of the Company or such



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                  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 6. 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 7. 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.

SECTION 8. 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.



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SECTION 9. CHANGE OF CONTROL

         The Company will not merge or consolidate with any other corporation or
         organization, or permit its business activities to be taken over by any
         other organization, unless and until the succeeding or continuing
         corporation or other organization shall expressly assume the rights and
         obligations of the Company hereunder. The Company will not cease its
         business activities or terminate its existence without having made
         adequate provision for the fulfillment of its obligation hereunder.

SECTION 10. DURATION OF PLAN

         Unless terminated earlier pursuant to Section 11, 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.

SECTION 11. 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 12. 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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