Document:

Visteon Corporation Savings Parity Plan

 Exhibit 10.2 
 VISTEON CORPORATION 
 SAVINGS PARITY PLAN 

Effective January 1, 2012 

 VISTEON CORPORATION 
 SAVINGS PARITY PLAN 
 The Visteon Corporation Savings Parity Plan (the
“Plan”) has been adopted to promote the best interests of Visteon Corporation (the “Company”) and the stockholders of the Company by attracting and retaining key management employees possessing a strong interest in the successful
operation of the Company and its subsidiaries or affiliates and encouraging their continued loyalty, service and counsel to the Company and its subsidiaries or affiliates. The Plan is adopted effective January 1, 2012. 

  
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 ARTICLE I. DEFINITIONS AND CONSTRUCTION 

Section 1.01. Definitions. 
 The following terms have the meanings indicated below unless the context in which the term is used clearly indicates otherwise: 
 (a) Account: The record keeping account maintained to record the interest of each Participant under the Plan. 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. 
 (b) Affiliate: A person or legal entity that directly or indirectly, through one or more intermediaries, controls or is controlled by, or is under common control, with the Company, within the meaning of
Code Sections 414(b) and (c); provided that Code Section 414(b) and (c) shall be applied by substituting “at least fifty percent (50%)” for “at least eighty percent (80%) each place it appears therein. 

(c) Beneficiary: The person or entity designated by a Participant to be his beneficiary for purposes of this Plan (subject to such
limitations as to the classes and number of beneficiaries and contingent beneficiaries and such other limitations as the Committee may prescribe). A Participant’s designation of beneficiary shall be valid and in effect only if a properly
executed designation, in such form as the Committee shall prescribe, is filed and received by the Committee or its delegate prior to the Participant’s death. If a Participant designates his or her spouse as beneficiary, such designation
automatically shall become null and void on the date of the Participant’s divorce or legal separation from such spouse. If a valid designation of beneficiary is not in effect at the time of the Participant’s death, the Participant’s
surviving spouse, or if there is no surviving spouse, the estate of the Participant is deemed to be the sole Beneficiary. If multiple beneficiaries have been designated and one or more of the beneficiaries predecease the Participant, then upon the
Participant’s death, payment shall be made exclusively to the surviving beneficiary or beneficiaries unless the Participant’s designation specifies an alternate method of distribution. Further, in the event that the Committee is uncertain
as to the identity of the Participant’s beneficiary, the Committee may deem the estate of the Participant to 

  
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be the sole beneficiary. Beneficiary designations shall be in writing (or in such other form as authorized by the Committee for this purpose, which may include on-line designations), shall be
filed with the Committee or its delegate, and shall be in such form as the Committee may prescribe for this purpose. 
 (d)
Board: The Board of Directors of the Company. 
 (e) Code: 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. Any reference to a specific provision of the Code shall be deemed to include reference to any successor provision thereto. 

(f) Committee: The Organization and Compensation Committee of the Board. 

(g) Company: Visteon Corporation, or any successor thereto. 
 (h) Company Contribution Credits: Amounts credited to a Participant’s Account pursuant to Article II. A Participant’s Company Contribution Credits might consist of one or more of the following:

  

	 	(i)	Matching Contribution Credits: Amounts credited to a Participant’s Account pursuant to Section 2.01; 

 

	 	(ii)	Special 2012 Contribution Credits: Amounts credited to a Participant’s Account pursuant to Section 2.02; and 

 

	 	(iii)	Disability Contribution Credits: Amounts credited to a Participant’s Account pursuant to Section 2.03. 

(i) Effective Date: January 1, 2012. 
 (j) ERISA: The Employee Retirement Income Security Act of 1974, as interpreted by regulations and rulings issued pursuant thereto, all as amended and in effect from time to time. Any reference to a
specific provision of ERISA shall be deemed to include reference to any successor provision thereto. 

  
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 (k) Investment Options: One or more of the hypothetical investment options established by
the Committee from time to time. 
 (l) Limitations: The limitations on benefits and/or contributions imposed on qualified plans
by the Internal Revenue Code, including, but not limited to, the limitations imposed by Section 415 and Section 401(a)(17) of the Code. 
 (m) Participant: A person who is: 
  

	 	(i)	Classified by a Participating Employer as a common law employee and is enrolled on the active employment rolls of the Participating Employer; and

  

	 	(ii)	Regularly employed by a Participating Employer on a salaried basis (as distinguished from a pension, retirement allowance, severance pay, retainer, commission, fee
under a contract or other arrangement, or hourly, piecework or other wage); and 

  

	 	(iii)	Eligible to participate in the Visteon Investment Plan. 

 Where the context so requires, the term Participant also includes a former employee entitled to receive a benefit hereunder. 
 Notwithstanding anything to the contrary herein, the Committee may exclude one or more groups of persons from participating if the Committee determines that such action is necessary or appropriate in
order for the Plan to constitute a program for a select group of management or highly compensated employees for purposes of ERISA. 
 (n) Participating Employer: The Company, Visteon Systems LLC, Visteon Global Technologies, Inc., Visteon International Business Development, Inc., and each other subsidiary a majority of the voting stock
of which is owned directly or indirectly by the Company, or a limited liability company a majority of the membership interest of which is owned directly or indirectly by the Company, that with the consent of the Committee, participates in the Plan
for the benefit of one or more Participants in its employ. 

  
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 (o) Plan: The Visteon Corporation Savings Parity Plan, as amended and in effect from time to
time. 
 (p) Plan Year: The calendar year. 
 (q) Separation from Service: The date on which a Participant terminates employment from the Company and all Affiliates, provided that (1) such termination constitutes a separation from service for
purposes of Code Section 409A, and (2) the facts and circumstances indicate that the Company (or the Affiliate) and the Participant reasonably believed that the Participant would perform no further services (either as an employee or as an
independent contractor) for the Company (or the Affiliate) after the Participant’s termination date, or believed that the level of services the Participant would perform for the Company (or the Affiliate) after such date (either as an employee
or as an independent contractor) would permanently decrease such that the Participant would be providing insignificant services to the Company or an Affiliate. For this purpose, a Participant is deemed to provide insignificant services to the
Company or an Affiliate, and thus to have incurred a bona fide Separation from Service, if the Participant provides services at an annual rate that is less than twenty percent (20%) of the services rendered by such Participant, on average,
during the immediately preceding thirty-six (36) months of employment (or his or her actual period of employment if less). Notwithstanding the foregoing, if a Participant takes a leave of absence from the Company or an Affiliate for the purpose
of military leave, sick leave or other bona fide leave of absence, the Participant’s employment will be deemed to continue for the first six (6) months of the leave of absence, or if longer, for so long as the Participant’s right to
reemployment is provided either by statute or by contract; provided that if the leave of absence is due to a medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less
than six (6) months, where such impairment causes the Participant to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, the leave may be extended for up to twenty-nine
(29) months without causing a Separation from Service. 
 (r) Valuation Date: Each day on which the New York Stock Exchange
is open for business. 

  
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 (s) Visteon Investment Plan: The Visteon Investment Plan, as amended and in effect from time
to time. 
 Section 1.02. Construction and Applicable Law. 

(a) Wherever any words are used in the masculine, they shall be construed as though they were used in the feminine in all cases where
they would so apply; and wherever any words are use in the singular or the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply. Titles of articles and
sections are for general information only, and the Plan is not to be construed by reference to such items. 
 (b) This Plan is
intended to be a plan of deferred compensation maintained for a select group of management or highly compensated employees as that term is used in ERISA, and shall be interpreted so as to comply with the applicable requirements thereof. In all other
respects, the Plan is to be construed and its validity determined according to the laws of the State of Michigan to the extent such laws are not preempted by federal law. In case any provision of the Plan is held illegal or invalid for any reason,
the illegality or invalidity will not affect the remaining parts of the Plan, but the Plan shall, to the extent possible, be construed and enforced as if the illegal or invalid provision had never been inserted. 

  
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 ARTICLE II. COMPANY CONTRIBUTION CREDITS 

Section 2.01. Matching Contribution Credits. 
 (a) Eligibility. Following the close of each Plan Year, the Company shall determine whether a Participant is entitled to a Matching Contribution Credit for the Plan Year, and if the Participant is
eligible, the amount of such credit. A Participant may be entitled to a Matching Contribution Credit with respect to any Plan Year if, during such Plan Year, the Participant: 

 

	 	(i)	Made Participant Contributions to the Visteon Investment Plan in an amount equal to or in excess of six percent (6%) of the Participant’s Plan Compensation
(or, if less, the maximum amount of Participant Contributions permitted in accordance with the Limitations); and 

  

	 	(ii)	Is actively employed by a Participating Employer on December 31 of the Plan Year for which the Matching Contribution Credit is being made; provided that this
requirement shall not apply if the Company determines that the Participant’s employment had been involuntarily terminated by a Participating Employer other than for cause. 

(b) Amount of Matching Contribution Credit. If a Participant is eligible for a Matching Contribution Credit with respect to any
Plan Year, as soon as administratively practicable following the close of the Plan Year, there shall be credited to the Participant’s Account an amount equal to the difference between (i) the matching contribution that would have been
allocated to the Participant’s account under the Visteon Investment Plan if the Limitations did not apply and if the Participant, in addition to the Participant Contributions actually made during the Plan Year, had elected to make Participant
Contributions equal to six percent (6%) of the portion of the Participant’s Plan Compensation for the Plan Year that is in excess of the limitation on considered compensation under Code Section 401(a)(17), and (ii) the matching
contribution actually allocated to the Participant’s account under the Visteon Investment Plan for the Plan Year. 

  
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 (c) Definitions. For purposes of this Section 2.01: 

 

	 	(i)	The term “Participant Contributions” has the meaning assigned in Section 1.1(ee) of the Visteon Investment Plan, or any successor provision thereto.

  

	 	(ii)	The term “Plan Compensation” has the meaning assigned in Section 1.1(o)(1) of the Visteon Investment Plan, or any successor provision thereto,
disregarding amounts in excess of the limitation on considered compensation under Code Section 401(a)(17). 

Section 2.02. Special 2012 Contribution Credits. For the 2012 Plan Year only, a Participant who receives an allocation
of the Special 2012 Non-Elective Contribution under Section 3.4(b)(4) of the Visteon Investment Plan and who is actively employed by a Participating Employer on December 31, 2012 (or who terminated employment during 2012 if the Company
determines that the Participant’s employment had been involuntarily terminated by a Participating Employer other than for cause) shall be credited with a Special 2012 Contribution Credit under this Plan equal to the difference between
(a) the Special 2012 Non-Elective Contribution which would have been allocated to the Participant under the Visteon Investment Plan for the Plan Year if such contribution were determined without regard to the Limitations, and (b) the
Special 2012 Non-Elective Contribution actually allocated to the Participant’s account under Section 3.4(b)(4) of the Visteon Investment Plan for the Plan Year. If a Participant is eligible for a Special 2012 Non-Elective Contribution
Credit, the credit shall be allocated to the Participant’s Account as soon as administratively practicable following the close of the Plan Year. 
 Section 2.03. Contributions for Certain Disabled Participants. A Participant who is entitled to the Special Disability Contribution under Section 3.4(b)(5) of the Visteon
Investment Plan shall be credited with a Disability Contribution Credit equal to the difference between (a) the Special Disability Contribution that would have allocated to the Participant under the Visteon Investment Plan for such Plan Year if
such contribution were determined without regard to the Limitations, and (b) the Special Disability Contribution actually allocated to the Participant’s account under Section 3.4(b)(5) of the Visteon Investment Plan for the Plan Year.
If a Participant is eligible for a Disability Contribution Credit with respect to any Plan Year, the Disability Contribution Credit will be allocated to the Participant’s Account as soon as administratively practicable following the close of
the Plan Year, 

  
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 ARTICLE III. ACCOUNTING, HYPOTHETICAL INVESTMENT AND DISTRIBUTION 

Section 3.01. Deemed Investment of Participant Accounts. 

(a) The Committee may designate two or more Investment Options; provided that for any period prior to the date on which the Committee
designates such Investment Options, the Participant’s Account shall be credited with interest equivalent at the annual rate of 3.65%. The Committee’s designation of an Investment Option does not imply any obligation on the part of the
Participating Employers to set aside or otherwise invest funds in the designated Investment Option. The Investment Options serve merely as a device for determining the amount of deemed investment gain or loss to be credited or charged to the
Participant’s account. Further, the Committee may at any time modify the roster of available Investment Options, including the elimination of any Investment Option that was previously available under the Plan. 

(b) In accordance with uniform rules prescribed by the Committee, from and after the date on which the Committee permits a Participant to
make an election with respect to the deemed investment of his or her account, a Participant may designate, in such manner as the Committee may prescribe (which may include a requirement to use an on-line election system), how his or her account
balance shall be deemed to be invested among the Investment Options or to change a previous investment designation. A Participant, in his or her investment designation, shall indicate whether the investment designation shall operate (i) to
reallocate the account balance (as of the effective date of the election) in the percentages specified by the Participant in his or her investment election, and/or (ii) as a direction with respect to the deemed investment of future Company
contribution credits. Subject to subsection (a), if the Participant fails to make a timely and complete investment designation with respect to any portion of the Participant’s account, he or she shall be deemed to have elected that 100% of
portion of the account balance for which no direction has been received shall be deemed to be invested in the default Investment Option specified by the Committee. 
 (c) When selecting more than one Investment Option, the Participant shall designate, in whole multiples of 1% or such other percentage determined by the Committee, the percentage to be allocated to each
Investment Option. 

  
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 (d) A Participant’s investment election or deemed investment election shall become
effective on the date established by the Committee for this purpose, and shall remain in effect unless and until modified by a subsequent election that becomes effective in accordance with the rules of this Section. 

(e) Other than a reallocation of part or all of a Participant’s account balance pursuant to a revised investment election submitted
by the Participant, the deemed investment allocation of a Participant will not be adjusted to reflect differences in the relative investment return realized by the various hypothetical Investment Options that the Participant has designated, i.e., in
the absence of a new election, the Participant’s account will not be periodically “rebalanced” to return the investment allocation of the Participant’s account to the investment allocation in effect on the effective date of the
Participant’s most recent investment election. 
 (f) Subject to subsection (a), as of each Valuation Date, the account of
each Participant will be credited (or charged) based upon the investment gain (or loss) that the Participant would have realized with respect to his or her account since the immediately preceding Valuation Date had the Account been invested in
accordance with the terms of the Plan and (if applicable) the Participant’s actual or deemed investment election. 

Section 3.02. Distribution. 
 (a) Defined Contribution Basis. Plan benefits accrue on a defined contribution basis. The benefit payable to a Participant who is eligible for Plan benefits will be equal to the balance in the
Participant’s notional account, consisting of the sum of the Company contribution credits and deemed interest or investment gain or loss. 
 (b) Vesting. 
  

	 	(i)	Matching Contribution Credits. A Participant is entitled to the portion of his or her Account that is attributable to Matching Contribution Credits if the
Participant has completed at least five (5) years of Vesting Service (as determined under the Visteon Investment Plan). 

  
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	 	(ii)	Special 2012 Contribution Credits. A Participant is vested in the portion of his or her Account that is attributable to Special 2012 Contribution Credits if the
Participant is vested in the corresponding Special 2012 Non-Elective Contributions under the Visteon Investment Plan. 

  

	 	(iii)	Disability Contribution Credits. A Participant is vested in the portion of his or her Account that is attributable to Disability Contribution Credits if the
Participant is vested in the corresponding disability contributions under the Visteon Investment Plan. 

 (c)
Time and Form of Distribution. 
  

	 	(i)	The Participant will receive payment of the vested portion of his or her Account that is attributable to Matching Contribution Credits and the Special 2012 Contribution
Credit (if any), together with deemed investment gain or loss thereon, in the form of a single lump sum on the first day of the seventh month following the Participant’s Separation from Service. The amount of the lump sum payment will be equal
to the balance in the Participant’s Account on the Valuation Date immediately preceding the payment date (the date on which the distribution is processed). 

 

	 	(ii)	 The Participant will receive payment of the vested portion of his or her Account that is attributable to Disability Contribution Credits, together with
deemed investment gain or loss thereon, in the form of a single lump sum on the first day of the month following the Participant’s 65th birthday. 

 Section 3.03. Death Benefits. 
 (a) If a Participant dies on or
after the date on which payment of the Participant’s lump sum Plan benefit has been made, no further benefits are payable following the Participant’s death. 

  
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 (b) If the Participant dies prior to the date on which payment of the Participant’s
benefit has been paid, whether or not the Participant is actively employed at the time of death, the vested, undistributed portion of the Participant’s Account shall be paid in a single sum to the Participant’s Beneficiary. The amount of
the death benefit will be equal to the vested, undistributed balance in the Participant’s Account as of the Valuation Date that immediately precedes distribution of the account. Distribution shall be made as soon as practicable (and in no event
more than 90 days following) the date of the Participant’s death. 

  
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 ARTICLE IV. EARNING OUT CONDITIONS 

Section 4.01. Conditions Applicable to Continued Payment of Award. 

(a) Anything herein contained to the contrary notwithstanding, the right of any Participant to receive any benefit payment hereunder
shall accrue only if, during the entire period ending with the scheduled payment date, the Participant shall have earned out such payment by refraining from engaging in any activity that is directly or indirectly in competition with any activity of
the Company or any subsidiary or affiliate thereof. The Committee shall have the sole and absolute discretion to determine whether a Participant’s activities constitute competition with the Company, and the Committee may promulgate such rules
and regulations in this regard as it deems appropriate. 
 (b) In the event of a Participant’s nonfulfillment of the
condition set forth in the immediately preceding paragraph, no further payment shall be made to the Participant or the Beneficiary; provided, however, that the nonfulfillment of such condition may at any time (whether before, at the time of or
subsequent to termination of employment) be waived in the following manner: 
  

	 	(i)	with respect to any such Participant who at any time shall have been a member of the Board of Directors, the President, an Executive Vice President, a Senior Vice
President, a Vice President, the Treasurer, the Controller or the Secretary of the Company, such waiver may be granted by the Committee upon its determination that in its sole judgment there shall not have been and will not be any substantial
adverse effect upon the Company or any subsidiary or affiliate thereof by reason of the nonfulfillment of such condition; and 

  

	 	(ii)	with respect to any other such Participant, such waiver may be granted by the Retirement Committee designated under the Visteon Pension Plan upon its determination that
in its sole judgment there shall not have been and will not be any such substantial adverse effect. 

  
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 (c) Anything herein contained to the contrary notwithstanding, benefit payments shall not be
paid to or with respect to any person as to whom it has been determined that such person at any time (whether before or subsequent to termination of employment) acted in a manner detrimental to the best interests of the Company. Any such
determination shall be made by (i) the Committee with respect to any Participant who at any time shall have been a member of the Board of Directors, an Executive Vice President, a Senior Vice President, a Vice President, the Treasurer, the
Controller or the Secretary of the Company, and (ii) the Retirement Committee designated under the Visteon Pension Plan with respect to any other Participant, and shall apply to any amounts payable after the date of the applicable
committee’s action hereunder, regardless of whether the Participant has commenced receiving benefit payments hereunder. Conduct which constitutes engaging in an activity that is directly or indirectly in competition with any activity of the
Company or any subsidiary or affiliate thereof shall be governed by subsections (a) and (b) above and shall not be subject to any determination under this subsection (c). 

  
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 ARTICLE V. GENERAL PROVISIONS 

Section 5.01. Administration and Interpretation. 

(a) Subject to subsection (b) below, the Committee shall administer and interpret the Plan. 

(b) Subject to such limits as the Committee may from time to time prescribe or such additional or contrary delegations of authority as
the Committee may prescribe, the Company’s Director of Compensation and Benefits may exercise any of the authority and discretion granted to the Committee hereunder, provided that (i) the Director of Compensation and Benefits shall not be
authorized to amend the Plan, and (ii) the Director of Compensation and Benefits shall not exercise any authority and responsibility with respect to non-ministerial matters affecting the participation in the Plan by the Director of Compensation
and Benefits. To the extent that the Director of Compensation and Benefits is authorized to act on behalf of the Committee, any references herein to the Committee shall be also be deemed references to the Director of Compensation and Benefits.

 (c) The Committee may adopt and modify rules and regulations relating to the Plan as it deems necessary or advisable for the
administration of the Plan. The Committee shall have the discretionary authority to interpret and construe the Plan, to make benefit determination (and benefit adjustments) under the Plan, and to take all other actions that may be necessary or
appropriate for the administration of the Plan. Each determination, interpretation or other action made or taken pursuant to the provisions of the Plan by the Committee shall be final and shall be binding and conclusive for all purposes and upon all
persons, including, but without limitation thereto, the Company, its stockholders, the Participating Employers, the directors, officers, and employees of the Company or a Participating Employer, the Plan participants, and their respective successors
in interest. 
 Section 5.02. Restrictions to Comply with Applicable Law. Notwithstanding any other provision
of the Plan, the Company shall have no liability to make any payment under the Plan unless such delivery or payment would comply with all applicable laws and the applicable requirements of any securities exchange or similar entity. 

  
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 Section 5.03. Deductions and Offsets. Anything contained in the Plan
notwithstanding, a Participating Employer may deduct from any distribution hereunder, at the time payment is otherwise due and payable under the Plan, all amounts owed to the Company or a Participating Employer by the Participant for any reason, or
the Company may offset any amounts owing to it or an Affiliate by the Participant for any reason against the Participant’s benefit, whether or not the benefit is then payable, up to the maximum amount that may be offset without violating Code
Section 409A. 
 Section 5.04. Tax Withholding. A Participating Employer shall withhold from any benefit
payment amounts required to be withheld for Federal and State income and other applicable taxes. No later than the date as of which an amount first becomes includible in the income of the Participant for employment tax purposes, the Participant
shall pay or make arrangements satisfactory to the Company regarding the payment of any such tax. In addition, if prior to the date of distribution of any amount hereunder, the Federal Insurance Contributions Act (FICA) tax imposed under Code
Sections 3101, 3121(a) and 3121(v)(2), where applicable, becomes due, the Company may direct that the Participant’s benefit be reduced to reflect the amount needed to pay the Participant’s portion of such tax. 

Section 5.05. Claims Procedure. 
 (a) Claim for Benefits. Any Participant or Beneficiary (hereafter referred to as the “claimant”) under this Plan who believes he or she is entitled to benefits under the Plan in an amount
greater than the amount received may file, or have his or her duly authorized representative file, a claim with the Committee. not later than ninety (90) days after the payment (or first payment) is made (or should have been made) in accordance
with the terms of the Plan or in accordance with regulations issued by the Secretary of the Treasury under Code Section 409A. Any such claim shall be filed in writing stating the nature of the claim, and the facts supporting the claim, the
amount claimed and the name and address of the claimant. The Committee shall consider the claim and answer in writing stating whether the claim is granted or denied. If the Committee denies the claim, it shall deliver, within one hundred thirty-five
(135) days of the date the first payment was made (or should have been made) in accordance with the terms of the Plan or in accordance with regulations issued by the Secretary of the Treasury under Code Section 409A,

  
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a written notice of such denial decision. The written decision shall be within 90 days of receipt of the claim by the Committee (or 180 days if additional time is needed and the claimant is
notified of the extension, the reason therefor and the expected date of determination prior to commencement of the extension). If the claim is denied in whole or in part, the claimant shall be furnished with a written notice of such denial
containing (i) the specific reasons for the denial, (ii) a specific reference to the Plan provisions on which the denial is based, (iii) an explanation of the Plan’s appeal procedures set forth in subsection (b) below,
(iv) a description of any additional material or information which is necessary for the claimant to submit or perfect an appeal of his or her claim and (v) an explanation of the Participant’s or Beneficiary’s right to bring suit
under ERISA following an adverse determination upon appeal. 
 (b) Appeal. If a claimant wishes to appeal the denial of
his or her claim, the claimant or his or her duly authorized representative shall file a written notice of appeal to the Committee within 180 days after the payment (or first payment) is made (or should have been made) in accordance with the terms
of the Plan or in accordance with regulations issued by the Secretary of the Treasury under Code Section 409A In order that the Committee may expeditiously decide such appeal, the written notice of appeal should contain (i) a statement of
the ground(s) for the appeal, (ii) a specific reference to the Plan provisions on which the appeal is based, (iii) a statement of the arguments and authority (if any) supporting each ground for appeal, and (iv) any other pertinent
documents or comments which the appellant desires to submit in support of the appeal. The Committee shall decide the appellant’s appeal within 60 days of its receipt of the appeal (or 120 days if additional time is needed and the claimant is
notified of the extension, the reason therefore and the expected date of determination prior to commencement of the extension). The Committee’s written decision shall contain the reasons for the decision and reference to the Plan provisions on
which the decision is based. If the claim is denied in whole or in part, such written decision shall also include notification of the claimant’s right to bring suit for benefits under Section 502(a) of ERISA and the claimant’s right
to obtain, upon request and free of charge, reasonable access to and copies of all documents, records or other information relevant to the claim for benefits. 

  
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 Section 5.06. Participant Rights Unsecured. 

(a) Unsecured Claim. The right of a Participant or his or her Beneficiary to receive a distribution hereunder shall be an
unsecured claim, and neither the Participant nor any Beneficiary shall have any rights in or against any amount credited to his or her Account or any other specific assets of a Participating Employer. The right of a Participant or Beneficiary to the
payment of benefits under this Plan shall not be assigned, encumbered, or transferred, except by will or the laws of descent and distribution. The rights of a Participant hereunder are exercisable during the Participant’s lifetime only by the
Participant or the Participant’s guardian or legal representative. 
 (b) Contractual Obligation. The Company may
authorize the creation of a trust or other arrangements to assist it in meeting the obligations created under the Plan. However, any liability to any person with respect to the Plan shall be based solely upon any contractual obligations that may be
created pursuant to the Plan. No obligation of a Participating Employer shall be deemed to be secured by any pledge of, or other encumbrance on, any property of a Participating Employer. Nothing contained in this Plan and no action taken pursuant to
its terms shall create or be construed to create a trust of any kind, or a fiduciary relationship between a Participating Employer and any Participant or Beneficiary, or any other person. 

Section 5.07. No Contract of Employment. The Plan is an expression of the Company’s present policy with respect
to Company executives who meet the eligibility requirements set forth herein. The Plan is not a contract of employment, nor does it provide any Participant with a right to continue in the employment of the Company or any other entity. No
Participant, Beneficiary or other person shall have any legal or other right to any benefit payments except in accordance with the terms of the Plan, and then only while the Plan is in effect and subject to the Company’s right to amend or
terminate the Plan as provided in Section 7.07 below. 
 Section 5.08. Amendment or Termination. There
shall be no time limit on the duration of the Plan. However, the Company, by action of the Senior Vice President, Human Resources, may at any time and for any reason, amend or terminate the Plan; provided that (a) the Committee shall have the
exclusive amendment authority with respect to any amendment that, if adopted, would increase the benefits payable under the Plan, (b) any termination of the Plan 

  
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shall be implemented in accordance with the requirements of Code Section 409A, and (c) no Plan amendment or termination may reduce or eliminate a Participant’s benefit accrued
under the Plan prior to the date on which such amendment or termination is adopted (or if later, made effective). 

Section 5.09. Administrative Expenses. Costs of establishing and administering the Plan will be paid by the
Participating Employers. 
 Section 5.10. No Assignment of Benefits. No rights or benefits under the Plan
shall, except as otherwise specifically provided by law, be subject to assignment (except for the designation of Beneficiaries pursuant to subsection (c) of Section 1.01), nor shall such rights or benefits be subject to attachment or legal
process for or against a Participant or his or her Beneficiary. 
 Section 5.11. Successors and Assigns. This
Plan shall be binding upon and inure to the benefit of the Participating Employers, their successors and assigns and the Participants and their heirs, executors, administrators, and legal representatives. 

Section 5.12. Designated Payment Dates. Whenever a provision of this Plan specifies payment to be
made on a particular date, the payment will be treated as having been made on the specified date if it is made as soon as practicable following the designated date, provided that (a) the Participant is not permitted, either directly or
indirectly, to designate the taxable year of payment and (b) payment is made no later than the 15th day of the third calendar month following the designated payment date. 

Section 5.13. Permitted Delay in Payment. If a distribution required under the terms of this Plan would jeopardize the
ability of the Company or of an Affiliate to continue as a going concern, the Company or the Affiliate shall not be required to make such distribution. Rather, the distribution shall be delayed until the first date that making the distribution does
not jeopardize the ability of the Company or of an Affiliate to continue as a going concern. Further, if any distribution pursuant to the Plan will violate the terms Federal securities law or any other applicable law, then the distribution shall be
delayed until the earliest date on which making the distribution will not violate such law. 

  
 -20-

 Section 5.14. Disregard of Six Month Delay. Notwithstanding anything
herein to the contrary, if at the time of a Participant’s Separation from Service, the stock of the Company or any other related entity that is considered a “service recipient” within the meaning of Section 409A of the Code is
not traded on an established securities market or otherwise, then the provision of the Plan requiring that payments be delayed for six months (with payment to be made on the first day of the seventh month) following Separation from Service shall
cease to apply to the extent that such action is permitted under Code Section 409A . In such event, in the case of a benefit payment of which is triggered by the Participant’s Separation from Service, the lump sum payment of a
Participant’s benefit shall be made within 90 days following the Participant’s Separation from Service. 
  

			
	VISTEON CORPORATION
		
	By:	 	 /s/ Keith M. Shull

		 	Keith M. Shull
		 	Senior Vice President, Human Resources
		
	Date:	 	 October 28, 2011

  
 -21-Change in Control Agreement

 Exhibit 10.3 
 CHANGE IN CONTROL AGREEMENT 
 THIS AGREEMENT, which is effective as of
October 17, 2011 (the “Effective Date”), is made by and between Visteon Corporation, a Delaware corporation (the “Company”) and Martin Welch (the “Executive”). 

WHEREAS, the Company considers it essential to the best interests of its stockholders to foster the continued employment of key
management personnel; and 
 WHEREAS, the Board recognizes that, as is the case with many publicly held corporations, the
possibility of a Change in Control exists and that such possibility, and the uncertainty and questions which it may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its
stockholders; and 
 WHEREAS, the Board has determined that appropriate steps should be taken to reinforce and encourage the
continued attention and dedication of members of the Company’s management, including the Executive, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in
Control; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company and the
Executive hereby agree as follows: 
 1. Defined Terms. The definitions of capitalized terms used in this Agreement are
provided in the last Section hereof. 
 2. Term of Agreement. The Term of this Agreement shall commence on the Effective
Date and shall continue in effect through the fifth anniversary of the Effective Date; provided, however, that commencing on the first anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the
Term shall automatically be extended for one additional year unless, not later than 90 days prior to each such date, the Company or the Executive shall have given notice not to extend the Term; and provided, further, that if a Change
in Control shall have occurred during the Term, the Term shall expire no earlier than 24 months beyond the month in which such Change in Control occurred. 
 3. Company’s Covenants Summarized. In order to induce the Executive to remain in the employ of the Company and in consideration of the Executive’s covenants set forth in Section 4
hereof, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described herein. Except as provided in Section 9.1 hereof, no Severance Payments shall be
payable under this Agreement unless there shall have been (or, under the terms of the second sentence of Section 6.1 hereof, there shall be deemed to have been) a termination of the Executive’s employment with the Company following a
Change in Control and during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any
right to be retained in the employ of the Company. 

  
 1 

 4. The Executive’s Covenants. 

4.1 The Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Potential Change in Control
during the Term, the Executive will remain in the employ of the Company until the earliest of (i) a date which is six months from the date of such Potential Change of Control, (ii) the date of a Change in Control, (iii) the date of
termination by the Executive of the Executive’s employment for Good Reason or by reason of death, Disability or Retirement, or (iv) the termination by the Company of the Executive’s employment for any reason. 

4.2 The Executive agrees that, during the Term and for a period ending on the date 18 months after a termination of the Executive’s
employment following a Change in Control under circumstances entitling the Executive to payments and benefits under Section 6 hereof, the Executive will not, without the prior written consent of the Chairman of the Board or the Chief Executive
Officer of the Company, engage in or perform any services of a similar nature to those performed by the Executive at the Company for any other corporation or business which is primarily engaged in the design, manufacture, development, promotion or
sale of climate, instrument and door panels or electronic components for the automotive industry within North America, Latin America, Asia, Australia or Europe in competition with the Company or any of the Company’s subsidiaries or Affiliates,
or any joint ventures to which the Company or any of the Company’s subsidiaries or Affiliates are a party. 
 4.3 During
the Term and thereafter, the Executive will not (other than in the regular course and in furtherance of the Company’s business) divulge, furnish or make available to any person any confidential knowledge, information or materials, whether
tangible or intangible, regarding proprietary matters relating to the Company, including, without limitation, trade secrets, customer and supplier lists, pricing policies, operational methods, marketing plans or strategies, product development
techniques or plans, business acquisition or disposition plans, new personnel employment plans, methods of manufacture, technical processes, designs and design projects, inventions and research projects and financial budgets and forecasts of the
Company except (1) information which at the time is available to others in the business or generally known to the public other than as a result of disclosure by the Executive not permitted hereunder, and (2) when required to do so by a
court of competent jurisdiction, by any governmental agency or by any administrative body or legislative body (including a committee thereof) with purported or apparent jurisdiction to order the Executive to divulge, disclose or make accessible such
information. 
 5. Compensation Other Than Severance Payments. 

5.1 Following a Change in Control and during the Term, during any period that the Executive fails to perform the Executive’s
full-time duties with the Company as a result of 

  
 2 

 
incapacity due to physical or mental illness, the Company shall pay to the Executive an amount that when added to the amount paid to the Executive under the Company’s short-term and/or
long-term disability plans, will result in the Executive receiving his full salary at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any other
compensation or benefit plan, program or arrangement maintained by the Company during such period, until the Executive’s employment is terminated by the Company for Disability. 

5.2 If the Executive’s employment shall be terminated for any reason following a Change in Control and during the Term, the Company
shall pay the Executive’s full salary to the Executive through the Date of Termination at the rate in effect immediately prior to the Date of Termination or, if higher, the rate in effect immediately prior to the first occurrence of an event or
circumstance constituting Good Reason, together with all compensation and benefits payable to the Executive through the Date of Termination under the terms of the Company’s compensation and benefit plans, programs or arrangements as in effect
immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason. 

5.3 If the Executive’s employment shall be terminated for any reason following a Change in Control and during the Term, the Company
shall pay to the Executive the Executive’s normal post-termination compensation and benefits as such payments become due. Such post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company’s
retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first
event or circumstance constituting Good Reason. 
 6. Severance Payments. 

6.1 If the Executive’s employment is terminated on or within two (2) years following a Change in Control, other than
(i) by the Company for Cause, (ii) by reason of death or Disability, or (iii) by the Executive without Good Reason, then the Company shall pay the Executive the amounts, and provide the Executive the benefits, described in this
Section 6.1 (“Severance Payments”), and Section 6.2, in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof. For purposes of this Agreement, the Executive’s employment shall
be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (i) the Executive’s employment is terminated by the Company without Cause prior to a Change in Control
(whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, or (ii) the
Executive terminates his employment for Good Reason prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person. For
purposes of any determination regarding the applicability of the immediately 

  
 3 

 
preceding sentence, any position taken by the Executive shall be presumed to be correct unless the Company establishes to the Board by clear and convincing evidence that such position is not
correct. 
 (A) In lieu of any further salary payments to the Executive for periods subsequent to the Date
of Termination, the Company shall pay to the Executive, on the first day of the seventh (7th) month following the month in which occurs the Executive’s Separation from Service, a lump sum severance payment, in cash, equal to one and one half (1 1/2) times the sum of (i) the
Executive’s base salary as in effect immediately prior to the Date of Termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (ii) the Executive’s target
annual bonus pursuant to any annual bonus or incentive plan maintained by the Company in respect of the fiscal year in which occurs the Date of Termination or, if higher, the fiscal year in which occurs the first event or circumstance constituting
Good Reason. The amount payable pursuant to this Section 6.1(A) shall be in lieu of any cash severance or salary continuation benefit payable to the Executive under any other plan, policy or program of the Company or any of its Affiliates (for
which the Executive shall be deemed ineligible if amounts are payable hereunder) or any written employment agreement between the Executive and the Company or any of its Affiliates. 

(B) For the 18 month period immediately following the Date of Termination, the Company shall arrange to provide the Executive and his
dependents life, accident and health insurance benefits substantially similar to those provided to the Executive and his dependents immediately prior to the Date of Termination or, if more favorable to the Executive, those provided to the Executive
and his dependents immediately prior to the first occurrence of an event or circumstance constituting Good Reason, at no greater cost to the Executive than the cost to the Executive immediately prior to such date or occurrence; provided,
however, that, unless the Executive consents to a different method (after taking into account the effect of such method on the calculation of “parachute payments” pursuant to Section 6.2 hereof), such health and life insurance
benefits shall be provided through a third-party insurer. Benefits otherwise receivable by the Executive pursuant to this Section 6.1(B) shall be reduced to the extent benefits of the same type are received by or made available to the Executive
by another employer during the 18 month period following the Executive’s termination of employment (and any such benefits received by or made available to the Executive shall be reported to the Company by the Executive); provided,
however, that the Company shall reimburse the Executive for the excess, if any, of the cost of such benefits to the Executive over such cost immediately prior to the Date of Termination or, if more favorable to the Executive, the first
occurrence of an event or circumstance constituting Good Reason. Notwithstanding anything in this Section 6.1(B) to the contrary, with respect to the first six (6) months following the Executive’s Separation from Service, if the
premiums payable by the Company for group term life insurance on the Executive’s life exceeds the amount of the “limited payments” exemption set forth in Section 1.409A-1(b)(9)(v)(B) of the Income Tax Regulations (or any
successor provision thereto), then, to the extent required in order to comply with Code Section 409A, the Executive, in advance, shall pay to the Company an amount equal to the premiums for any such life insurance policy, other than with
respect to life insurance coverage to which the 

  
 4 

 
Executive would be entitled independent of this Agreement. Promptly following the end of such six (6) month period, the Company will make a cash payment to the Executive equal to the
difference between the aggregate amount paid by the Executive for such coverage and the amount that the Executive would have paid for such life insurance coverage if such cost had been determined pursuant to this Section 6.1(B) other than the
preceding sentence. 
 (C) Each option to purchase shares of common stock of the Company outstanding as of the Date of
Termination shall become fully vested and exercisable as of such date and shall remain exercisable during the shorter of (i) the remaining term of such option (such remaining term to be determined as if the Executive were still actively
employed) or (ii) ten (10) years from the date on which the option originally was granted, and each grant of restricted stock or similar grant, the award of which is contingent only upon the continued employment of the Executive to a
subsequent date, shall become fully vested as of the Date of Termination. 
 (D) Unless payable to the
Executive under the terms of any annual or long-term incentive plan, the Company shall pay to the Executive on the first day of the seventh (7th) month following the month in which occurs the Executive’s Separation from Service, a lump sum amount, in
cash, equal to the sum of (i) any unpaid incentive compensation (including performance share awards) which has been allocated or awarded to the Executive for a completed fiscal year or other measuring period preceding the Date of Termination
under any such plan and which, as of the Date of Termination, is contingent only upon the continued employment of the Executive to a subsequent date, and (ii) a pro rata portion to the Date of Termination of the aggregate value of all
contingent incentive compensation awards (including performance share awards) to the Executive for all then uncompleted periods under any such plan, calculated as to each such award by multiplying the award that the Executive would have earned on
the last day of the performance award period, assuming the achievement, at the target level (or if higher, at the then projected actual final level), of the individual and corporate performance goals established with respect to such award, by the
fraction obtained by dividing the number of full months and any fractional portion of a month during such performance award period through the Date of Termination by the total number of months contained in such performance award period.
Notwithstanding the forgoing, if and to the extent the Executive had elected to defer receipt of any such award, and if the Executive’s deferral election is irrevocable as of the Date of Termination for purposes of Code Section 409A, the
amount calculated above shall be credited to the Executive’s account under the applicable deferred compensation plan in lieu of being distributed directly to the Executive. 

(E) The benefits then accrued by or payable to the Executive under the Company’s Supplemental Executive Retirement Plan and Pension
Parity Plan, or any successor to any such plan, and the benefits then accrued by or payable to the Executive under any other nonqualified plan providing supplemental retirement or deferred compensation benefits shall become fully vested
notwithstanding any eligibility conditions that would otherwise apply with respect to such benefits and the benefit, as so vested, will be paid in accordance with the terms of the applicable plan or program. With respect to the Supplemental
Executive Retirement Plan 

  
 5 

 
and any other nonqualified nonaccount balance plan or portion of a plan providing supplemental retirement or deferred compensation benefits, the Company shall transfer an amount in cash
sufficient to pay all benefits then accrued by or payable to the Executive under the terms of such plans into an irrevocable grantor trust (a so-called “Rabbi Trust”) whose trustee shall be an entity unaffiliated with and independent of
the Company, which trust shall be required to pay such benefits in accordance with and subject to the applicable terms of each plan (as modified by this Agreement) and the trust instrument; provided that if such transfer to the Rabbi Trust would be
treated, under Code Sections 83 and 409A(b), as a taxable transfer to the Executive, such transfer to the Rabbi Trust shall not be made until such time as the transfer will not be treated as a taxable event under Code Sections 83 and 409A; and
provided further, that any amendment or termination of any such plan on or after the Change in Control date the effect of which would be to reduce or eliminate the benefit payable to the Executive shall be disregarded. 

(F) The Company shall reimburse the Executive for expenses incurred for outplacement services suitable to the Executive’s position
for a period of two (2) years following the Executive’s Separation from Service, (or, if earlier, until the first acceptance by the Executive of an offer of employment) in an amount not exceeding 25% of the sum of the Executive’s
annual base salary as in effect immediately prior to the Date of Termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstances constituting Good Reason, and target annual bonus pursuant to any annual
bonus or incentive plan maintained by the Company in respect of the fiscal year in which occurs the Date of Termination or, if higher, the fiscal year in which occurs the first event or circumstance constituting Good Reason. 

(G) For the six (6) month period immediately following the Date of Termination, the Company shall provide the Executive with the
use of any Company provided automobile on the same terms and conditions that were applicable immediately prior to the Date of Termination or, if more favorable, immediately prior to the first occurrence of an event or circumstance constituting Good
Reason. The Executive’s right to use a Company provided automobile cannot be exchanged for cash or another benefit. 
 6.2
(A) Notwithstanding any other provisions of this Agreement, in the event that any payment or benefit received or to be received by the Executive in connection with a Change in Control or the termination of the Executive’s employment
(whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement with the Company, any Person whose actions result in a Change in Control or any Person affiliated with the Company or such Person) (all such payments and
benefits, including the Severance Payments, being hereinafter called “Total Payments”) would be subject (in whole or part), to the Excise Tax, then, after taking into account any reduction in the Total Payments provided by reason of
section 280G of the Code in such other plan, arrangement or agreement, the cash Severance Payments shall first be reduced, and the noncash Severance Payments shall thereafter be reduced, to the extent necessary so that no portion of the Total
Payments is subject to the Excise Tax but only if (A) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or equal

  
 6 

 
to (B) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of
Excise Tax to which the Executive would be subject in respect of such unreduced Total Payments); provided, however, that the Executive may elect to the extent that such election (and the right to such election) does not result in
adverse tax consequences to the Executive under Code Section 409A, to have the noncash Severance Payments reduced (or eliminated) prior to any reduction of the cash Severance Payments. 

(B) For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (i) no
portion of the Total Payments the receipt or enjoyment of which the Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of section 280G(b) of the Code shall be taken into account,
(ii) no portion of the Total Payments shall be taken into account which, in the opinion of tax counsel (“Tax Counsel”) reasonably acceptable to the Executive and selected by the accounting firm (the “Auditor”) which was,
immediately prior to the Change in Control, the Company’s independent auditor (A) does not constitute a “parachute payment” within the meaning of section 280G(b)(2) of the Code (including by reason of section 280G(b)(4)(A) of the
Code) or (B) constitutes reasonable compensation for services actually rendered, within the meaning of section 280G(b)(4)(B) of the Code, in excess of the Base Amount allocable to such reasonable compensation, and (iii) the value of any
non-cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Auditor in accordance with the principles of sections 280G(d)(3) and (4) of the Code. 

(C) At the time that payments are made under this Agreement, the Company shall provide the Executive with a written statement setting
forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Company has received from Tax Counsel, the Auditor or other advisors or consultants (and any
such opinions or advice which are in writing shall be attached to the statement). 
 6.3 The payments
provided in subsections (A) and (D) of Section 6.1 hereof shall be made on the first day of the seventh
(7th) month following the month in which occurs the
Executive’s Separation from Service. At the time that payments are made under this Agreement, the Company shall provide the Executive with a written statement setting forth the manner in which such payments were calculated and the basis for
such calculations including, without limitation, any opinions or other advice the Company has received from Tax Counsel, the Auditor or other advisors or consultants (and any such opinions or advice which are in writing shall be attached to the
statement). 
 6.4 The Company also shall reimburse the Executive for all legal fees and expenses incurred by the Executive in
disputing in good faith any issue hereunder relating to the termination of the Executive’s employment, in seeking in good faith to obtain or enforce any benefit or right provided by this Agreement or in connection with any tax audit or
proceeding to the extent attributable to the application of section 4999 of the Code to any payment or benefit 

  
 7 

 
provided hereunder. Such payments shall be made within five business days after delivery of the Executive’s written requests for payment accompanied with such evidence of fees and expenses
incurred as the Company reasonably may require; provided that no reimbursement pursuant to this Section 6.4 shall be made later than the end of the calendar year following the calendar year in which such fee or expense was incurred. 

7. Termination Procedures and Compensation During Dispute. 

7.1. Notice of Termination. After a Change in Control and during the Term, any purported termination of the Executive’s
employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a “Notice of
Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated. Further, a Notice of Termination for Cause is required to include a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters (3/4) of the entire
membership of the Board at a meeting of the Board which was called and held for the purpose of considering such termination (after reasonable notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel,
to be heard before the Board) finding that, in the good faith opinion of the Board, the Executive was guilty of conduct set forth in clause (i) or (ii) of the definition of Cause herein, and specifying the particulars thereof in detail.

 7.2 Date of Termination. “Date of Termination,” with respect to any purported termination of the
Executive’s employment after a Change in Control and during the Term, shall mean (i) if the Executive’s employment is terminated for Disability, 30 days after Notice of Termination is given (provided that the Executive shall not have
returned to the full-time performance of the Executive’s duties during such 30 day period), and (ii) if the Executive’s employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case
of a termination by the Company, shall not be less than 30 days (except in the case of a termination for Cause) and, in the case of a termination by the Executive, shall not be less than 15 days nor more than 60 days, respectively, from the date
such Notice of Termination is given). 
 7.3 Dispute Concerning Termination. If within 15 days after any Notice of
Termination is given, or, if later, prior to the Date of Termination (as determined without regard to this Section 7.3), the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination,
the Date of Termination shall be extended until the earlier of (i) the date on which the Term ends or (ii) the date on which the dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order
or decree of an arbitrator or a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has been perfected); provided, however, that the Date of
Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the resolution of such dispute with reasonable diligence. 

  
 8 

 7.4 Compensation During Dispute. If a purported termination occurs following a Change
in Control and during the Term and the Date of Termination is extended in accordance with Section 7.3 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given
(including, but not limited to, salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the notice giving rise to the dispute was given, until the Date of
Termination, as determined in accordance with Section 7.3 hereof. Amounts paid under this Section 7.4 are in addition to all other amounts due under this Agreement (other than those due under Section 5.2 hereof) and shall not be
offset against or reduce any other amounts due under this Agreement. 
 8. No Mitigation. The Company agrees that, if the
Executive’s employment with the Company terminates during the Term, the Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Executive by the Company pursuant to Section 6 hereof
or Section 7.4 hereof. Further, the amount of any payment or benefit provided for in this Agreement (other than Section 6.1(B) hereof) shall not be reduced by any compensation earned by the Executive as the result of employment by another
employer, by retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company, or otherwise. 
 9. Successors; Binding Agreement. 
 9.1 In addition to any obligations
imposed by law upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to
expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. If the successor to all or substantially all of the business
and/or assets of the Company arises in connection with a transaction that constitutes a Change in Control Event (as defined for purposes of Code Section 409A), the failure of the Company to obtain such assumption and agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms as the Executive would be entitled to hereunder if the Executive were
to terminate the Executive’s employment for Good Reason after a Change in Control, except that, for purposes of implementing the foregoing, the date of the Change in Control Event (as defined for purposes of Code Section 409A) shall be
deemed the Date of Termination. If the successor to all or substantially all of the business and/or assets of the Company arises in connection with a transaction that does not constitute a Change in Control Event (as defined for purposes of Code
Section 409A), the failure of the Company to obtain such assumption and agreement prior to the effectiveness of such succession shall be a breach of this Agreement and, following the Executive’s Separation from Service, shall entitle the
Executive to Compensation 

  
 9 

 
from the Company in the same amount and on the same terms as the Executive would be entitled to hereunder if the Executive were to terminate the Executive’s employment for Good Reason after
a Change in Control. 
 9.2 This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or
legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms,
terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or
administrators of the Executive’s estate. 
 10. Notices. For the purpose of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed, if to the Executive, to the
address inserted below the Executive’s signature on the final page hereof and, if to the Company, to the address set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except
that notice of change of address shall be effective only upon actual receipt: 
 To the Company: 

Visteon Corporation 
 One Village Center Drive 
 Van Buren Township, MI 48111 

Attention: General Counsel 
 11. Miscellaneous. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such
officer as may be specifically designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or of any lack of compliance with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement supersedes any other agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof which have been made by either party; provided, however, that this Agreement shall supersede any agreement setting forth the terms and conditions of the Executive’s employment with the Company
only in the event that the Executive’s employment with the Company is terminated on or following a Change in Control, by the Company other than for Cause or by the Executive other than for Good Reason. The validity, interpretation, construction
and performance of this Agreement shall be governed by the laws of the State of Delaware. All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections. Any payments provided
for hereunder shall be paid net of any applicable withholding required under federal, state or local law and any additional withholding to which the Executive 

  
 10 

 
has agreed. In addition, if prior to the date of payment of the Severance Payments hereunder, the taxes imposed under Sections 3101, 3121(a) and 3121(v)(2), where applicable, become due, the
Company may provide for an immediate payment of the amount needed to pay the Executive’s portion of such tax (plus an amount equal to the taxes that will be due on such amount) and the Executive’s Severance Payments shall be reduced
accordingly. The obligations of the Company and the Executive under this Agreement which by their nature may require either partial or total performance after the expiration of the Term (including, without limitation, those under Sections 6 and 7
hereof) shall survive such expiration. 
 12. Validity. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 13. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 14. Settlement of Disputes. All claims by the Executive for benefits under this Agreement shall be directed to and
determined by the Board and shall be in writing. Any denial by the Board of a claim for benefits under this Agreement shall be delivered to the Executive in writing and shall set forth the specific reasons for the denial and the specific provisions
of this Agreement relied upon. The Board shall afford a reasonable opportunity to the Executive for a review of the decision denying a claim and shall further allow the Executive to appeal to the Board a decision of the Board within 60 days after
notification by the Board that the Executive’s claim has been denied. The Executive acknowledges that to avoid an additional tax on payments that may be payable or benefits that may be provided under this Agreement and that constitute deferred
compensation that is not exempt from Section 409A of the Code, the Executive must make a reasonable, good faith effort to collect any payment or benefit to which the Executive believes the Executive is entitled hereunder no later than 90 days
after the latest date upon which the payment could have been made or benefit provided under this Agreement, and if not paid or provided, must take further enforcement measures within 180 days after such latest date. 

15. Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated below: 

(A) “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act.

 (B) “Auditor” shall have the meaning set forth in Section 6.2 hereof. 

(C) “Base Amount” shall have the meaning set forth in section 280G(b)(3) of the Code. 

  
 11 

 (D) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the
Exchange Act. 
 (E) “Board” shall mean the Board of Directors of the Company. 

(F) “Cause” for termination by the Company of the Executive’s employment shall mean (i) the willful and continued
failure by the Executive to substantially perform the Executive’s duties with the Company (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness or any such actual or anticipated failure
after the issuance of a Notice of Termination for Good Reason by the Executive pursuant to Section 7.1 hereof) after a written demand for substantial performance is delivered to the Executive by the Board, which demand specifically identifies
the manner in which the Board believes that the Executive has not substantially performed the Executive’s duties, or (ii) the willful engaging by the Executive in conduct which is demonstrably and materially injurious to the Company or its
subsidiaries, monetarily or otherwise. For purposes of clauses (i) and (ii) of this definition, (x) no act, or failure to act, on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the
Executive not in good faith and without reasonable belief that the Executive’s act, or failure to act, was in the best interest of the Company and (y) in the event of a dispute concerning the application of this provision, no claim by the
Company that Cause exists shall be given effect unless the Company establishes to the Board by clear and convincing evidence that Cause exists. 
 (G) “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred: 

(I) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities
beneficially owned by such Person any securities acquired directly from the Company or its affiliates) representing 40% or more of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such a
Beneficial Owner in connection with a transaction described in clause (a) of paragraph (III) below; 
 (II) within any
twelve (12) month period, the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the Effective Date, constitute the Board and any new director (other than a director
whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board
or nomination for election by the Company’s shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on the date hereof or whose appointment, election
or nomination for election was previously so approved or recommended; 
 (III) there is consummated a merger or consolidation
of the Company or any direct or indirect subsidiary of the Company with any other corporation, other 

  
 12 

 
than (a) a merger or consolidation which results in the directors of the Company immediately prior to such merger or consolidation continuing to constitute at least a majority of the board
of directors of the Company, the surviving entity or any parent thereof or (b) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner,
directly or indirectly, of securities of the Company (not including in the securities Beneficially Owned by such Person any securities acquired directly from the Company or its Affiliates) representing 40% or more of the combined voting power of the
Company’s then outstanding securities; 
 (IV) the shareholders of the Company approve a plan of complete liquidation or
dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of more than 50% of the Company’s assets, other than a sale or disposition by the Company of more than 50% of the Company’s assets
to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale; or 

(V) any other event that the Board, in its sole discretion, determines to be a Change in Control for purposes of this Agreement.

 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the
consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the
same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 
 (H) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 (I) “Company” shall mean Visteon Corporation, a Delaware corporation, and, except in determining under Section 15(G) hereof whether or not any Change in Control of the Company has occurred,
shall include any successor to its business and/or assets which assumes and agrees to perform this Agreement by operation of law, or otherwise. 
 (J) “Date of Termination” shall have the meaning set forth in Section 7.2 hereof. 
 (K) “Disability” shall be deemed the reason for the termination by the Company of the Executive’s employment, if, as a result of the Executive’s incapacity due to physical or mental
illness, the Executive shall have been absent from the full-time performance of the Executive’s duties with the Company for a period of six consecutive months, the Company shall have given the Executive a Notice of Termination for Disability,
and, within 30 days after such Notice of Termination is given, the Executive shall not have returned to the full-time performance of the Executive’s duties. 

  
 13 

 (L) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended
from time to time. 
 (M) “Excise Tax” shall mean any excise tax imposed under section 4999 of the Code. 

(N) “Executive” shall mean the individual named in the first paragraph of this Agreement. 

(O) “Good Reason” for termination by the Executive of the Executive’s employment shall mean the occurrence (without the
Executive’s express written consent) after any Change in Control, or prior to a Change in Control under the circumstances described in clauses (ii) and (iii) of the second sentence of Section 6.1 hereof (treating all references
in paragraphs (I) through (VI) below to a “Change in Control” as references to a “Potential Change in Control”), of any one of the following acts by the Company, or failures by the Company to act, unless, in the case of any
act or failure to act described in paragraph (I), (IV), or (V) below, such act or failure to act is corrected prior to the Date of Termination specified in the Notice of Termination given in respect thereof: 

(I) the assignment to the Executive of any duties inconsistent with the Executive’s status as a senior executive officer of the
Company or a material adverse alteration in the nature or status of the Executive’s responsibilities from those in effect immediately prior to the Change in Control (including, without limitation, the Executive ceasing to be an executive
officer of a public company); 
 (II) a reduction by the Company in the Executive’s annual base salary as in effect on the
date hereof or as the same may be increased from time to time, except for across-the-board salary reductions similarly affecting all senior executives of the Company and all senior executives of any Person in control of the Company; 

(III) the relocation of the Executive’s principal place of employment to a location more than 50 miles from the Executive’s
principal place of employment immediately prior to the Change in Control or the Company’s requiring the Executive to be based anywhere other than such principal place of employment (or permitted relocation thereof) except for required travel on
the Company’s business to an extent substantially consistent with the Executive’s present business travel obligations; 
 (IV) the failure by the Company to pay to the Executive any portion of the Executive’s current compensation, or to pay to the Executive any portion of an installment of deferred compensation under
any deferred compensation program of the Company, within seven days of the date such compensation is due; 

  
 14 

 (V) the failure by the Company to continue to provide the Executive with benefits
substantially similar to the material benefits enjoyed by the Executive under any of the Company’s executive compensation (including bonus, equity or incentive compensation), pension, savings, life insurance, medical, health and accident, or
disability plans in which the Executive was participating immediately prior to the Change in Control (except for across the board changes similarly affecting all senior executives of the Company and all senior executives of any Person in control of
the Company), the taking of any other action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed by the Executive at the time of the Change in
Control, or the failure by the Company to provide the Executive with the number of paid vacation days to which the Executive is entitled on the basis of years of service with the Company in accordance with the Company’s normal vacation policy
in effect at the time of the Change in Control; or 
 (VI) any purported termination of the Executive’s employment which
is not effected pursuant to a Notice of Termination satisfying the requirements of Section 7.1 hereof; for purposes of this Agreement, no such purported termination shall be effective. 

The Executive’s right to terminate the Executive’s employment for Good Reason shall not be affected by the Executive’s
incapacity due to physical or mental illness. The Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder. For purposes of any
determination regarding the existence of Good Reason, any claim by the Executive that Good Reason exists shall be presumed to be correct unless the Company establishes to the Board by clear and convincing evidence that Good Reason does not exist.

 (P) “Notice of Termination” shall have the meaning set forth in Section 7.1 hereof. 

(Q) “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof, except that such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates,
(iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company. 
 (R) “Potential Change in Control” shall be deemed to have occurred if the event
set forth in any one of the following paragraphs shall have occurred: 
 (I) the Company enters into an agreement, the
consummation of which would result in the occurrence of a Change in Control; 

  
 15 

 (II) the Company or any Person publicly announces an intention to take or to consider
taking actions which, if consummated, would constitute a Change in Control; 
 (III) any Person becomes the Beneficial Owner,
directly or indirectly, of securities of the Company representing 15% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities (not including in the
securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates); or 
 (IV)
the Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control has occurred. 

(S) “Retirement” shall be deemed the reason for the termination by the Executive of the Executive’s employment if such
employment is terminated in accordance with the Company’s retirement policy, including early retirement, generally applicable to its salaried employees. 
 (T) “Separation from Service” means the date on which the Executive separates from service (within the meaning of Code Section 409A) from the Company when the Company and Executive
reasonably anticipate that no further services will be performed by the Executive for the Company after that date or that the level of bona fide services the Executive will perform after such date as an employee of the Company will permanently
decrease to no more than 20% of the average level of bona fide services performed by the Executive (whether as an employee or independent contractor) for the Company over the immediately preceding 36-month period (or such lesser period of services).
For purposes of this definition, the term Company includes each other corporation, trade or business that, with the Company, constitutes a controlled group of corporations or group of trades or businesses under common control within the meaning of
Code Sections 414(b) or (c), applied by substituting “at least 50 percent” for “at least 80 percent” each place it appears, and the term “Company” shall be deemed to refer collectively to the Company and each other
controlled group member as so defined. An Executive is not considered to have incurred a Separation from Service if the Executive is absent from active employment due to military leave, sick leave or other bona fide leave of absence if the period of
such leave does not exceed the greater of (i) six months, or (ii) the period during which the Executive’s right to reemployment by the Company is provided either by statute or by contract; provided that if the leave of absence is due
to a medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less than six months, where such impairment causes the Executive to be unable to perform the duties of his or
her position of employment or any substantially similar position of employment, the leave may be extended for up to 29 months without causing the Executive to have incurred a Separation from Service. Further, for purposes of determining whether the
Executive has incurred a Separation from Service, if the Executive is not actively at work during the period that there exists a dispute pursuant to Section 7.3, the Executive shall be considered to be on a bona fide leave of absence for which
his right to reemployment is guaranteed during the period that begins on the date on which the Executive last performs active services and ends on the Date of Termination that ultimately is established pursuant to Section 7.3. 

  
 16 

 (U) “Severance Payments” shall have the meaning set forth in Section 6.1
hereof. 
 (V) “Tax Counsel” shall have the meaning set forth in Section 6.2 hereof. 

(W) “Term” shall mean the period of time described in Section 2 hereof (including any extension, continuation or
termination described therein). 
 (X) “Total Payments” shall mean those payments so described in Section 6.2
hereof. 

  
 17 

 IN WITNESS WHEREOF, the parties have duly executed this Agreement to be effective as of the
Effective Date. 
  

			
	VISTEON CORPORATION
		
	By:	 	 /s/ Michael K. Sharnas

		
	Name:	 	 Michael K. Sharnas

		
	Title:	 	 Vice President and General Counsel

	
	EXECUTIVE
	
	 /s/ Martin E. Welch

  
 18

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