Document:

exv10w2

 

Exhibit 10.2

On April 30, 2008 the Compensation Committee of the Registrant adopted the following resolution
amending the Standard Microsystems Corporation 2006 Employee Stock Appreciation Rights Plan (“the
2006 SARS Plan”):

RESOLVED, that paragraph 5 of the 2006 SARS Plan is hereby amended by deleting the words “two
million (2,000,000)” and replacing them with the words “four million (4,000,000)”exv10w3

 

Exhibit 10.3

On April 30, 2008 the Compensation Committee of the Registrant adopted the following resolution
amending the 2005 Inducement Stock Option and Restricted Stock Plan of Standard Microsystems
Corporation (“the 2005 Inducement Plan”):

RESOLVED, that paragraph 3. (a) of the 2005 Inducement Plan is hereby amended by deleting the word
“1,960,000” and replacing it with the word “2,460,000”exv4w7

 

EXHIBIT
4.7

Terms of the Securities

VISTEON CORPORATION

July 31,
2000

7.95% Notes due August 1, 2005

8.25% Notes due August 1, 2010

          Two series of Securities are hereby established pursuant to Section 2.01 of the Indenture
dated as of June 23, 2000 (the “Indenture”) between Visteon Corporation (the “Corporation”) and
Bank One Trust Company, N.A. (the “Trustee”), as follows:

          1. Each capitalized term used but not defined herein shall have the meaning assigned to
such term in the Indenture.

          2. The designation of the 7.95% Notes due August 1, 2005 shall be the “7.95% Notes due August
1, 2005” (the “Notes due 2005”), and the designation
of the 8.25% Notes due August 1, 2010 shall be
the “ 8.25 % Notes due August 1, 2010” (the “Notes due 2010” and, together with the Notes due 2005,
the “Designated Securities”).

          3. The limit upon the aggregate principal amount of the Notes due 2005 and the Notes due 2010
that may be authenticated and delivered under the Indenture (except for Designated Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Designated Securities of the same series pursuant to
Section 2.05, 2.06, 2.07, 3.02 or 10.04 of
the Indenture) is $500,000,000 and $700,000,000, respectively.

          4. The dates on which the principal amounts of the Notes due 2005 and the Notes due 2010 shall
be payable shall be August 1, 2005 and August 1, 2010, respectively.

          5. The rates at which the Notes due 2005 and the Notes due 2010 shall bear interest shall be
7.95% per annum and 8.25% per annum, respectively. Interest shall be computed on the basis of a
360-day year of twelve 30-day months. The date from which interest shall accrue for the Designated
Securities of each series shall be August 3, 2000. The Interest Payment Dates on which such
interest shall be payable shall be February 1 and August 1 of each year, commencing February
1, 2001. The record date for the interest payable on the Designated Securities on any Interest
Payment Date shall be the close of business on the
15th day preceding such Interest Payment Date.

 

 

          6. The form of Security for each of the Notes due 2005 and the Notes
due 2010 shall be as set forth on Attachments A-l and A-2 hereto, respectively.

          7. The place or places where the principal of (and premium, if any) and
interest and Additional Amounts on the Designated Securities shall be payable shall be the office
of the Trustee, 14 Wall Street, 8th Floor, New York, NY 10005, Attention: Global
Corporate Trust Services; provided, however, that at the option of the Corporation, payment of
interest on registered securities may be made by check mailed to the address of the Holder entitled
thereto as such address shall appear in the Security Register or by
wire transfer of immediately
available funds if the Holder holds U.S. $10,000,000 or more in aggregate
principal amount and sends wire transfer instructions to the Trustee as required in the
Indenture.

          8. The Securities of each series are subject to redemption, in whole at
any time or in part from time to time, at the option of the Corporation, at a redemption price
equal to the greater of (1) 100% of the principal amount of the Securities to be redeemed, and (2)
the sum of the present values of the remaining scheduled payments of principal and interest on such
Securities, discounted to the date of redemption on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the applicable Treasury Rate plus 15 basis points for the
Notes due 2005 or the applicable Treasury Rate plus 25 basis points for the Notes due 2010, in each
case plus accrued and unpaid interest on the principal amount being redeemed to the redemption
date.

          “TREASURY RATE” means, with respect to any redemption date, (1) the
yield, under the heading which represents the average for the immediately preceding week, appearing
in the most recently published statistical release designated “H. 55(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the
Comparable Treasury Issue (if no maturity is within three months before or after the Remaining
Life, yields for the two published maturities most closely corresponding to the Comparable Treasury
Issue will be determined and the Treasury  Rate will be interpolated or extrapolated from such
yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any
successor release) is not published during the week preceding the calculation date or does not
contain such yields, the rate per annum equal to the semi-annual equivalent yield-to-maturity of
the Comparable Treasury Issue calculated using a price for the Comparable Treasury Issue (expressed
as a percentage of its principal amount) equal to the Comparable Treasury Price of such redemption
date. The Treasury Rate will be calculated on the third Business Day preceding the redemption date.

          “BUSINESS DAY” means any calendar day that is not a Saturday, Sunday
or legal holiday in New York, New York and on which commercial banks are open for
business in New York, New York.

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          “COMPARABLE TREASURY ISSUE” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining
Life”) of the Designated Securities to be redeemed that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Designated Securities.

          “INDEPENDENT INVESTMENT BANKER” means Goldman, Sachs & Co. and its successor or, if such firm
is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking
institution of national standing appointed by the Trustee after consultation with the Corporation.

          “COMPARABLE TREASURY PRICE” means (1) the average of five Reference Treasury Dealer Quotations
for such redemption date, after excluding the highest and lowest Reference Treasury Dealer
Quotations, or, (2) if the Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations.

          “REFERENCE TREASURY DEALER” means (1) each of Goldman, Sachs & Co., Morgan Stanley & Co.
Incorporated and Salomon Smith Barney Inc. and their respective successors, provided, however,
that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New
York City (a “Primary Treasury Dealer”), the Corporation will substitute for such firm another
Primary Treasury Dealer and (2) any other. Primary Treasury Dealer selected by the Independent
Investment Banker after consultation with the Corporation.

          “THE REFERENCE TREASURY DEALER QUOTATIONS” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of
the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New
York City time, on the third Business Day preceding such redemption date.

          9. If (a) as a result of any change in, or amendment to, the laws (or any
regulations or rulings promulgated thereunder) of the United States (or any political subdivision
or taxing authority thereof or therein), or any change in, or amendments to, the official position
regarding the application or interpretation of such laws, regulations or rulings, which change or
amendment is announced or becomes effective on or after July 19, 2000, the Corporation becomes or
will become obligated to pay Additional Amounts (as defined below) with respect to the Designated
Securities or (b) any act is taken by a taxing authority of the United States on or after the date
hereof, whether or not such act is taken with respect to the Corporation or any affiliate, that
results in a substantial probability that the Corporation will

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or may be required to pay such Additional Amounts, then the Corporation may, at its option,
redeem, in whole, but not in part, each affected series of the Designated Securities on not less
than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal
amount of the relevant Designated Securities, together with interest
accrued thereon to the date
fixed for redemption; provided that the Corporation determines, in its business judgment, that
the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures
available to it, not including substitution of the obligor under the Designated Securities. No
redemption pursuant to (2) above may be made unless the Corporation shall have received an
opinion of independent counsel to the effect that an act taken by a taxing authority of the
United States results in a substantial probability that it will or may be required to pay
Additional Amounts and the Corporation shall have delivered to the Trustee a certificate, signed
by a duly authorized officer, stating that based on such opinion the Corporation is entitled to
redeem the Designated Securities pursuant to their terms.

          10. The Corporation shall have no obligation to redeem, purchase or repay the Designated
Securities pursuant to any sinking fund or analogous provision or at the option of the Holder
thereof.

          11. The Designated Securities shall be issued in the form of one or more fully registered
Global Securities in registered form and deposited with, or on behalf of, the Depository Trust
Company, New York (“DTC”), and registered in the name of Cede & Co., DTC’s nominee. The
securities will not be issued in definitive form. If any of the Euroclear System (“Euroclear”),
Clearstream Banking Societé anonyme (“Clearstream Luxembourg”) or DTC notifies the Corporation
that it is unwilling or unable to continue as a clearing system in connection with the Global
Securities or, in the case of DTC only, DTC ceases to be a clearing agency registered under the
Securities Exchange Act of 1934, as amended, and in
each case a successor clearing system is not appointed by the Corporation within 90 days after
receiving such notice from Euroclear, Clearstream Luxembourg or DTC or on becoming
aware that DTC is no longer so registered, the Corporation will issue or cause to be issued
individual certificates in registered form on registration of transfer of, or in exchange for,
book-entry interests in the Designated Securities represented by such Global Securities upon
delivery of such Global Securities for cancellation. In the event definitive Designated Securities
are issued, the Corporation will promptly appoint a paying agent and transfer agent in Luxembourg.
The Corporation will publish the name of the Luxembourg paying agent and transfer agent in
Luxembourg. In the event definitive Designated Securities are issued, the Holders thereof will be
able to receive payments on the Designated Securities and effect transfers of the Designated
Securities at the offices of the Luxembourg paying agent and transfer agent.

          12. The Corporation will, subject to the exceptions and limitations set
forth below, pay as additional interest on the Designated Securities such Additional Amounts
as are necessary in order that the net payment by the Corporation’s paying agents of the
Principal of and interest on the Designated Securities to a Holder who is a non-United States

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person (as defined below), after deduction for any present or future tax, assessment or
governmental charge of the United States or a political subdivision or taxing authority thereof or
therein, imposed by withholding with respect to the payment, will not be less than the amount
provided in the Designated Securities to be then due and payable; provided, however, that the
foregoing obligation to pay Additional Amounts shall not apply:

	 	(1)	 	to a tax, assessment or governmental charge that
is imposed or withheld solely by reason of the Holder, or a fiduciary,
settlor, beneficiary, member or shareholder of the Holder if the Holder is
an estate, trust, partnership or corporation, or a person holding a power
over an estate or trust administered by a fiduciary Holder, being
considered as:

	 	(a)	 	being or having been present or engaged
in trade or business in the United States or having or having had a
permanent establishment in the United States;
	 
	 	(b)	 	having a current or former
relationship with the United States, including a relationship
as a citizen or resident thereof;
	 
	 	(c)	 	being or having been a foreign or
domestic personal holding company, a passive foreign investment
company or a controlled foreign corporation with respect to the
United States or a corporation that has accumulated earnings to
avoid United States federal income tax; or
	 
	 	(d)	 	being or having been a “10-percent
shareholder” of the Corporation as defined in Section 871 (h) (3) of
the United States Internal Revenue Code of 1986, as amended (the
“Code”), or any successor provision;

	 	(2)	 	to any Holder that is not the sole beneficial owner of
the Designated
Securities, or a portion thereof, or that is a fiduciary or partnership,
but only to the extent that a beneficiary or settlor with respect to the
fiduciary, a beneficial owner or member of the partnership would not have
been entitled to the payment of an Additional Amount had the beneficiary,
settlor, beneficial owner or member received directly its
beneficial or distributive share of the payment;
	 
	 	(3)	 	to a tax, assessment or governmental charge that is
imposed or
withheld solely by reason of the failure of the Holder or any other
person to comply with certification, identification or information

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	 	 	 	reporting requirements concerning the nationality, residence,
identity or connection with the United States of the Holder or
beneficial owner of such Designated Securities, if compliance is
required by statute, by regulation of the United States Treasury
Department or by an applicable income tax treaty to which the United
States is a party as a precondition to exemption from such tax,
assessment or other governmental charge;
	 
	 	(4)	 	to a tax, assessment or governmental
charge that is imposed otherwise than by withholding by the Corporation
or a paying agent from the payment;
	 
	 	(5)	 	to a tax, assessment or governmental charge that is imposed or
withheld solely by reason of a change in law, regulation, or
administrative or judicial interpretation that becomes effective more
than 15 days after the payment becomes due or is duly provided for,
whichever occurs later;
	 
	 	(6)	 	to an estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax or a similar tax, assessment or governmental
charge;
	 
	 	(7)	 	to any tax, assessment or other governmental charge required to be
withheld by any paying agent from any payment of principal of or
interest on any Designated Security, if such payment can be made
without such withholding by any other paying agent; or
	 
	 	(8)	 	in the case of any combination of items (1), (2), (3), (4), (5), (6) and
(7) above.

               The Designated Securities are subject in all cases to any tax, fiscal or other law or
regulation or administrative or judicial interpretation applicable thereto. Except as herein
specifically provided, the Corporation will not be required to make any payment with respect
to any tax, assessment or governmental charge imposed by any government or a political
subdivision or taxing authority thereof or therein.

               As used herein, the term “United States” means the United States of America (including
the States and the District of Columbia) and its territories, its possessions and other areas
subject to its jurisdiction. “United States person” means (1) any individual who is a citizen
or resident of the United States, (2) a corporation, partnership or other entity created or
organized in or under the laws of the United States or (3) any estate or trust the income of
which is subject to United States federal income taxation regardless of its source; and
“non-United States person” means a person who is not a United States person.

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          13. The provisions of Article Twelve of the Indenture relating to defeasance of
Securities shall apply to the Designated Securities.

          14. The Corporation’s Luxembourg Stock Exchange listing agent shall be BNP Paribas Luxembourg,
10A Boulevard Royal, L-2093 Luxembourg.

          15. The Notes due 2005 shall be offered at an initial public offering price equal to 99.875%
of their principal amount, and in payment for the Notes due 2005 the Corporation shall receive
99.525% of their principal amount (99.875% of their principal amount less underwriting discounts
and commissions of 0.350%).

          The Notes due 2010 shall be offered at an initial public offering price equal to 99.853% of
their principal amount, and in payment for the Notes due 2010 the Corporation shall receive 99.403%
of their principal amount (99.853% of their principal amount less underwriting discounts and
commissions of 0.450%).

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Attachment A-1

          Unless this certificate is presented by an authorized representative of The Depository
Trust Company, a New York corporation (“DTC”), to Visteon Corporation or its agent for
registration of transfer, exchange, or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.

VISTEON CORPORATION

7.95% Notes due August 1, 2005

CUSIP No. 92839U AA 5

	 	 	 
	No.___

	 	U.S. $                    

VISTEON CORPORATION, a Delaware corporation (the “Corporation”), for value received,
hereby promises to pay to Cede & Co., or registered assigns, the principal
sum of                     Dollars ( $                    ) at the office of the Trustee (as hereinafter defined), 14 Wall Street, 8th Floor,
New York, NY 10005, Attention: Global Corporate
Trust Services, on August 1, 2005, in such coin or currency of the United States of America as at
the time of payment shall be legal tender for the payment of public and private debts, and to pay
interest on said principal sum at the rate of 7.95% per annum at the office of the Trustee, 14 Wall
Street, 8th Floor, New York, NY 10005, Attention: Global Corporate Trust Services,
in like coin or currency from August 3, 2000, semi-annually on February 1 and August 1, until
payment of said principal sum has been made or duly provided for. The interest so payable on any
February 1 or August 1 will, subject to certain exceptions provided in the Indenture referred to
below, be paid to the person in whose name this Note is registered at the close of business
on the fifteenth day preceding each such February 1 or August 1 at the office of the Trustee, 14
Wall Street, 8th Floor, New York, NY 10005, Attention: Global Corporate Trust Services;
at the option of the Corporation, interest may be paid by check to the registered holder hereof
entitled thereto at his, her or its last address as it appears on the registry books, or by wire
transfer of immediately available funds if the registered Holder hereof holds U.S. $10,000,000 or
more in aggregate principal amount and sends wire transfer instructions to the Trustee as required
in the Indenture, and principal may be paid by check to the registered Holder hereof or other
person entitled thereto against surrender of this Note.

          This Note represents $                    of the Corporation’s 7.95% Notes due
August 1, 2005 (the “Securities”), all issued or to be issued under and pursuant to an
Indenture dated as of June 23, 2000 (the “Indenture”), duly executed and delivered by the

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Corporation to Bank One Trust Company, N.A., Trustee (the “Trustee”), to which Indenture and any
indentures supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the
Corporation and the Holders of the Securities. The Securities may be issued in one or more
series, which different series may be issued in various aggregate principal amounts, may mature
at different times, may bear interest (if any) at different rates, may be subject to different
redemption provisions (if any) and may otherwise vary as provided in the Indenture.

          Initially, the Trustee will act as Paying Agent and Security Registrar.

          The Corporation will, subject to the exceptions and limitations set forth below, pay as
additional interest on this Note such Additional Amounts as are necessary in order that the net
payment by the Corporation’s paying agents of the principal of and interest on this Note to a
Holder who is a non-United States person (as defined below), after deduction for any present or
future tax, assessment or governmental charge of the United States or a political subdivision or
taxing authority thereof or therein, imposed by withholding with respect to the payment, will not
be less than the amount provided in this Note to be then due and payable; provided, however, that
the foregoing obligation to pay Additional Amounts shall not apply:

	 	(1)	 	to a tax, assessment or governmental charge that
is imposed or withheld solely by reason of the Holder, or a fiduciary,
settlor, beneficiary, member or shareholder of the Holder if the Holder is
an estate, trust, partnership or corporation, or a person holding a power
over an estate or trust administered by a fiduciary Holder, being
considered as:

	 	(a)	 	being or having been present or engaged
in trade or business in the United States or having or having had a
permanent establishment in the United States;
	 
	 	(b)	 	having a current or former
relationship with the United States, including a relationship
as a citizen or resident thereof;
	 
	 	(c)	 	being or having been a foreign or
domestic personal holding company, a passive foreign investment
company or a controlled foreign corporation with respect to the
United States or a corporation that has accumulated earnings to
avoid United States federal income tax; or
	 
	 	(d)	 	being or having been a “10-percent
shareholder” of the Corporation as defined in section 871 (h) (3)
of the United States

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	 	 	 	Internal Revenue Code of 1986, as amended (the “Code”), or any successor
provision;
	 
	 	(2)	 	to any Holder that is not the sole beneficial owner of this Note, or a portion hereof, or
that is a fiduciary or partnership, but only to the extent that a beneficiary or settlor with
respect to the fiduciary or a beneficial owner or member of the partnership would not have
been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial
owner or member received directly its beneficial or distributive share of the payment;
	 
	 	(3)	 	to a tax, assessment or governmental charge that is imposed or withheld solely by reason of
the failure of the Holder or any other person to comply with certification, identification or
information reporting requirements concerning the nationality, residence, identity or
connection with the United States of the Holder or beneficial owner of this Note, if
compliance is required by statute, by regulation of the United States Treasury Department or
by an applicable income tax treaty to which the United States is a party as a precondition to
exemption from, or reduction of, such tax, assessment or other governmental charge;
	 
	 	(4)	 	to a tax, assessment or governmental charge that is imposed otherwise than by withholding by
the Corporation or a paying agent from the payment;
	 
	 	(5)	 	to a tax, assessment or governmental charge that is imposed or withheld solely by reason of a
change in law, regulation, or administrative or judicial interpretation that becomes effective
more than 15 days after the payment becomes due or is duly provided for, whichever occurs
later;
	 
	 	(6)	 	to an estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax or
a similar tax, assessment or governmental charge;
	 
	 	(7)	 	to any tax, assessment or other governmental charge required to be withheld by any paying
agent from any payment of principal of or interest on this Note, if such payment can be made
without such withholding by any other paying agent; or
	 
	 	(8)	 	in the case of any combination of items (1), (2), (3), (4), (5), (6) and (7) above.

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          This Note is subject in all cases to any tax, fiscal or other law or regulation or
administrative or judicial interpretation applicable thereto. Except as herein specifically
provided, the Corporation will not be required to make any payment with respect to any tax,
assessment or governmental charge imposed by any government or a political subdivision or taxing
authority thereof or therein.

          As used herein, the term “United States” means the United States of America (including the
States and the District of Columbia) and its territories, its possessions and other areas
subject to its jurisdiction. “United States person” means (1) any individual who is a citizen or
resident of the United States, (2) a corporation, partnership or other entity created or
organized in or under the laws of the United States, or (3) any estate or trust the income of
which is subject to United States federal income taxation regardless of its source; and
“non-United States person” means a person who is not a United States person.

          In case an Event of Default, as defined in the Indenture, with respect to the Notes shall
have occurred and be continuing, the principal hereof may be declared, and upon such declaration
shall become, due and payable in the manner, with the effect and subject to the conditions
provided in the Indenture.

          The Indenture contains provisions permitting the Corporation and the Trustee
to execute a supplemental indenture to add any provisions to, change in any manner or eliminate
any provisions of, the Indenture or any existing supplemental indenture, or to modify the rights
of the Holders of the Securities issued under either such Indenture or existing supplemental
indenture, with the consent of the Holders of not less than a majority in principal amount of the
Securities of all series at the time Outstanding that are affected by the supplemental indenture
to be executed (voting as one class) if the supplemental Indenture to be executed does not:

i. (a) change the fixed maturity of any Securities, (b) reduce their principal
amount or premium, if any, (c) reduce the rate or extend the time of payment
of interest or any additional amounts payable on the Securities, (d) reduce the
amount due and payable upon acceleration of the maturity of the Securities or
the amount provable in bankruptcy or (e) make the principal of, or any
interest, premium or additional amounts on, any Security payable in a coin or
currency different from that provided in the Security,

(ii) impair the right to initiate suit for the enforcement of any such payment on
or after the stated maturity of the Securities, or

(iii) reduce the requirement, stated above, for the consent of the Holders of
the Securities to any modification described above, or the percentage required

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for the consent of the Holders to waive defaults, without the consent of the
Holder of each Security so affected.

          The Indenture also contains provisions permitting the Corporation and the Trustee to execute
supplemental indentures without the consent of the Holders of the Securities to (a) evidence the
assumption by a successor corporation of the obligations of the Corporation, (b) add covenants for
the protection of the Holders of the Securities, (c) add or change any of the provisions of the
Indenture to permit or facilitate the issuance of Securities of any series in bearer form and to
provide for the exchange of Securities in bearer form with registered Securities, (d) cure any
ambiguity or correct any inconsistency in the Indenture or in a supplemental indenture, (e)
transfer, assign, mortgage or pledge any property to or with the Trustee, (f) establish the form or
terms of Securities of any series as permitted by the terms of the Indenture, (g) evidence the
acceptance of appointment by a successor trustee and (h) change or eliminate provisions of the
Indenture where the changes or eliminations do not apply to any Security outstanding and become
effective only when there is no Security outstanding of a series created before the execution of
the supplemental indenture that is entitled to the benefit of the provision being changed or
eliminated.

          No reference herein to the Indenture and no provision of this Note or of the
Indenture shall alter or impair the obligation of the Corporation, which is absolute and
unconditional, to pay the principal of and interest on this Note at the place, at the respective
times, at the rate, and in the coin or currency, herein prescribed.

          The Securities may be redeemed in whole at any time, or in part from time to time, at the
option of the Corporation, at a redemption price equal to the greater of (1) 100% of the principal
amount of the Securities to be redeemed, and (2) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable
Treasury Rate plus 15 basis points, plus accrued and unpaid interest on the principal amount being
redeemed to redemption.

          “TREASURY RATE” means, with respect to any redemption date, (1) the yield under the heading
which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H. 15(519)” or any successor publication which is
published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant maturity under the
caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the Remaining Life, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue will be determined
and the Treasury Rate will be interpolated or extrapolated from such yields on a straight line
basis, rounding to the nearest month) or (2) if such release (or any successor release) is not
published during the week preceding the calculation date or does not contain such yields, the rate
per annum equal

12

 

to the semi-annual equivalent yield-to-maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price of such redemption date. The Treasury Rate will
be calculated on the third Business Day preceding the redemption date.

          “BUSINESS DAY” means any calendar day that is not a Saturday, Sunday or legal holiday in
New York, New York and on which commercial banks are open for business in New York, New York.

          “COMPARABLE TREASURY ISSUE” means the United States Treasury
security selected by an Independent Investment Banker as having a maturity comparable to the
remaining term (“Remaining Life”) of the Securities to be redeemed that would be utilized, at
the time of selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining term of such
Securities.

          “INDEPENDENT INVESTMENT BANKER” means Goldman, Sachs & Co. and its successor or, if such firm
is unwilling or unable to select the Comparable Treasury Issue, an independent investment
banking institution of national standing appointed by the Trustee after consultation with the
Corporation.

          “COMPARABLE TREASURY PRICE” means (1) the average of five Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest Reference Treasury
Dealer Quotations, or (2) if the Independent Investment
Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations.

          “REFERENCE TREASURY DEALER” means (1) each of Goldman, Sachs & Co. Morgan Stanley & Co.
Incorporated and Salomon Smith Barney Inc. and their respective successors, provided, however,
that if any of the foregoing shall cease to be a primary U.S. government securities dealer in
New York City (a “Primary Treasury Dealer”), the Corporation will substitute for such
underwriter another Primary Treasury Dealer, and (2) any other Primary Treasury Dealer selected
by the Independent Investment Banker after consultation with the Corporation.

          “THE REFERENCE TREASURY DEALER QUOTATIONS” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Independent Investment Banker,
of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in Writing to the Independent Investment Banker at
5:00 p.m., New York City time, on the third Business Day preceding such redemption date.

13

 

          If (1) as a result of any change in, or amendment to, the laws (or any
regulations or rulings promulgated thereunder) of the United States (or any political subdivision or taxing authority thereof or therein), or any change in, or amendments to, the official
position regarding the application or interpretation of such laws, regulations or rulings,
which change or amendment is announced or becomes effective on or after the date of the Resolutions, the Corporation becomes or will become obligated to pay Additional Amounts or (2)
any act is taken by a taxing authority of the United States on or after July 31, 2000, whether
or not such act is taken with respect to the Corporation or any affiliate, that results in a
substantial probability that the Corporation will or may be required to pay such Additional
Amounts, then the Corporation may, at its option, redeem, as a whole, but not in part, the Notes on not less than 30 nor more than 60 days’ prior notice, at a redemption price
equal to 100% of their principal amount, together with interest accrued but unpaid thereon to the date
fixed for redemption; provided that the Corporation determines, in its business judgment, that
the obligation to pay such additional amounts cannot be avoided by the use of
reasonable measures available to it, not including substitution of the obligor
under the Notes. No redemption pursuant to (2) above may be made unless the Corporation shall
have received an opinion of independent counsel to the effect that an act taken by a taxing
authority of the United States results in a substantial probability that it will or may be
required to pay the Additional Amounts and the Corporation shall have delivered to the Trustee
a certificate, signed by a duly authorized officer, stating that based on such opinion the
Corporation is entitled to redeem the Notes pursuant to their terms.

          The Corporation shall have no obligation to redeem, purchase or repay this Note pursuant
to any sinking fund or analogous provision or at the option of the Holder
hereof.

          This Note is subject to defeasance on the terms and conditions stated in the Indenture.

          Terms defined in the Indenture and not defined otherwise herein shall have the
respective meanings assigned thereto in the Indenture.

          This Note shall not be valid or become obligatory for any purpose until the certificate
of authentication hereon shall have been signed by the Trustee in accordance with
the Indenture.

14

 

          WITNESS THE SEAL OF THE CORPORATION AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS.

	 	 	 	 	 
	Dated: August 3, 2000

	 	VISTEON CORPORATION

	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	[SEAL]
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

THIS IS ONE OF THE SECURITIES OF THE 
SERIES DESIGNATED
THEREIN REFERRED TO 
IN THE WITHIN-MENTIONED INDENTURE.

BANK ONE TRUST COMPANY, N.A.,

      AS TRUSTEE

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

15

 

Attachment A-2

          Unless this certificate is presented by an authorized representative of the
Depository Trust Company, a New York corporation (“DTC”), to Visteon Corporation or its agent
for registration or transfer, exchange, or payment, and any certificate issued is registered
in the name of Cede & Co. or in such other name as is requested by an authorized representative
of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co.,
has an interest herein.

VISTEON CORPORATION

8.25% Notes due August 1, 2010

CUSIP No. 92839U AB 3

	 	 	 	 	 	 	 
	No.                          

	 	 	 	 	 	U.S. $                          
	 

	 	 
	 	 	 	 

          VISTEON CORPORATION, a Delaware corporation (the “Corporation”),
for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of                     Dollars ($                     ) at the office of the Trustee (as hereinafter
(defined), 14 Wall Street, 8th Floor, New York, NY 10005, Attention: Global
Corporate Trust Services, on August 1, 2010, in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to
pay interest on said principal sum at the rate of 8.25% per annum at the office of the
Trustee, 14 Wall Street, 8th Floor, New York, NY 10005, Attention: Global
Corporate Trust Services, in like coin or currency from August 3, 2000, semi-annually on
February 1 and August 1, until payment of said principal sum has been made or duly provided for. The interest so
payable on any February 1 or August 1 will, subject to certain exceptions provided in the
Indenture referred to below, be paid to the person in whose name this Note is registered at the
close of business on the fifteenth day preceding each such February 1
or August 1 at the office of the Trustee, 14 Wall Street, 8th Floor, New York, NY 10005, Attention: Global
Corporate Trust Services; at the option of the Corporation, interest may be paid by check to the
registered holder hereof entitled thereto at his, her or its last address as it appears on the
registry books, or by wire transfer of immediately available funds if the registered Holder
hereof holds U.S. $10,000,000 or more in aggregate principal amount and sends wire transfer
instructions to the Trustee as required in the Indenture, and principal may be paid by check to
the registered Holder hereof or other person entitled thereto against surrender of this Note.

          This
Note represents $                     of the Corporation’s 8.25% Notes due August 1, 2010 (the “Securities”), all issued or to be issued under and pursuant to an Indenture
dated as of June 23, 2000 (the “Indenture”), duly executed and delivered by the

          

16

 

Corporation to Bank One Trust Company, N.A., Trustee (the “Trustee”), to which Indenture and
any indentures supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the Trustee, the
Corporation and the Holders of the Securities. The Securities may be issued in one or more
series, which different series may be issued in various aggregate principal amounts, may
mature at different times, may bear interest (if any) at different rates, may be subject to
different redemption provisions (if any) and may otherwise vary as provided in the Indenture.

          Initially, the Trustee will act as Paying Agent and Security Registrar.

          The Corporation will, subject to the exceptions and limitations set forth
below, pay as additional interest on this Note such Additional Amounts as are necessary in
order that the net payment by the Corporation’s paying agents of the principal of and
interest on this Note to a Holder who is a non-United States person (as defined below), after deduction
for any present or future tax, assessment or governmental charge of the United States or a
political subdivision or taxing authority thereof or therein, imposed by withholding with
respect to the payment, will not be less than the amount provided in this Note to be then
due and payable; provided, however, that the foregoing obligation to pay Additional Amounts
shall not apply:

	 	(1)	 	to a tax, assessment or governmental charge
that is imposed or withheld solely by reason of the Holder, or a
fiduciary, settlor, beneficiary, member or shareholder of the Holder if
the Holder is an estate, trust, partnership or corporation, or a person
holding a power over an estate or trust administered by a fiduciary
Holder, being considered as:

	 	(a)	 	being or having been present or
engaged in trade or business in the United States or having or
having had a permanent establishment in the United States;
	 
	 	(b)	 	having a current or former
relationship with the United States, including a
relationship as a citizen or resident thereof;
	 
	 	(c)	 	being or having been a foreign or
domestic personal holding company, a passive foreign investment
company or a controlled foreign corporation with respect to the
United States or a corporation that has accumulated earnings to
avoid United States federal income tax; or
	 
	 	(d)	 	being or having been a “10-percent
shareholder” of the Corporation as defined in section 871 (h) (3)
of the United States

17

 

	 	 	 	Internal Revenue Code of 1986, as amended (the “Code”), or any successor
provision;
	 
	 	(2)	 	to any Holder that is not the sole beneficial owner of this Note, or a portion hereof, or
that is a fiduciary or partnership, but only to the extent that a beneficiary or settlor with
respect to the fiduciary or a beneficial owner or member of the partnership would not have
been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial
owner or member received directly its beneficial or distributive share of the payment;
	 
	 	(3)	 	to a tax, assessment or governmental charge that is imposed or withheld solely by reason of
the failure of the Holder or any other person to comply with certification, identification or
information reporting requirements concerning the nationality, residence, identity or
connection with the United States of the Holder or beneficial owner of this Note, if
compliance is required by statute, by regulation of the United States Treasury Department or
by an applicable income tax treaty to which the United States is a party as a precondition to
exemption from, or reduction of, such tax, assessment or other governmental charge;
	 
	 	(4)	 	to a tax, assessment or governmental charge that is imposed otherwise than by withholding by
the Corporation or a paying agent from the payment;
	 
	 	(5)	 	to a tax, assessment or governmental charge that is imposed or withheld solely by reason of a
change in law, regulation, or administrative or judicial interpretation that becomes effective
more than 15 days after the payment becomes due or is duly provided for, whichever occurs
later;
	 
	 	(6)	 	to an estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax or
a similar tax, assessment or governmental charge;
	 
	 	(7)	 	to any tax, assessment or other governmental charge required to be withheld by any paying
agent from any payment of principal of or interest on this Note, if such payment can be made
without such withholding by any other paying agent; or
	 
	 	(8)	 	in the case of any combination of items (1), (2), (3), (4), (5), (6) and (7) above.

18

 

          This Note is subject in all cases to any tax, fiscal or other law or regulation or
administrative or judicial interpretation applicable thereto. Except as herein specifically
provided, the Corporation will not be required to make any payment with respect to any tax,
assessment or governmental charge imposed by any government or a political subdivision or
taxing authority thereof or therein.

          As used herein, the term “United States” means the United States of America
(including the States and the District of Columbia) and its territories, its possessions and
other areas subject to its jurisdiction. “United States person” means (1) any individual who is a
citizen or resident of the United States, (2) a corporation, partnership or other entity created or
organized in or under the laws of the United States, or (3) any estate or trust the income of
which is subject to United States federal income taxation regardless of its source; and “non-
United States person” means a person who is not a United States person.

          In case an Event of Default, as defined in the Indenture, with respect to the
Notes shall have occurred and be continuing, the principal hereof may be declared, and
upon such declaration shall become, due and payable in the manner,
with the effect and subject to the conditions provided in the Indenture.

          The
Indenture contains provisions permitting the Corporation and the Trustee to execute a
supplemental indenture to add any provisions to, change in any manner or eliminate any provisions
of, the Indenture or any existing supplemental indenture, or to modify the rights of the Holders of
the Securities issued under either such Indenture or existing supplemental indenture, with the
consent of the Holders of not less than a majority in principal amount of the Securities of all
series at the time Outstanding that are affected by the supplemental indenture to be executed
(voting as one class) if the supplemental Indenture to be executed does not:

	 	i.	 	(a) change the fixed maturity of any Securities, (b) reduce their
principal amount or premium, if any, (c) reduce the rate or extend the time
of payment of interest or any additional amounts payable on the Securities,
(d) reduce the amount due and payable upon acceleration of the maturity of
the Securities or the amount provable in bankruptcy or (e) make the principal
of, or any interest, premium or additional amounts on, any Security payable
in a coin or currency different from that provided in the Security,
	 
	 	(ii)	 	impair the right to initiate suit for the enforcement of any such
payment on or after the stated maturity of the Securities, or
	 
	 	(iii)	 	reduce the requirement, stated above, for the consent of the Holders of
the Securities to any modification described above, or the percentage
required

19

 

	 	for the consent of the Holders to waive defaults, without the consent of the
Holder of each Security so affected.

          The Indenture also contains provisions permitting the Corporation and the Trustee to execute
supplemental indentures without the consent of the Holders of the Securities to (a) evidence the
assumption by a successor corporation of the obligations of the Corporation, (b) add covenants
for the protection of the Holders of the Securities, (c) add or change any of the provisions of
the Indenture to permit or facilitate the issuance of Securities of any series in bearer form and
to provide for the exchange of Securities in bearer form with registered Securities, (d) cure any
ambiguity or correct any inconsistency in the Indenture or in a supplemental indenture, (e)
transfer, assign, mortgage or pledge any property to or with the Trustee, (f) establish the form
or terms of Securities of any series as permitted by the terms of the Indenture, (g) evidence the
acceptance of appointment by a successor trustee and (h) change or eliminate provisions of the
Indenture where the changes or eliminations do not apply to any Security outstanding and become
effective only when there is no Security outstanding of a series created before the execution of
the supplemental indenture that is entitled to the benefit of the provision being changed or
eliminated.

          No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Corporation, which is absolute and unconditional, to pay
the principal of and interest on this Note at the place, at the respective times, at the rate,
and in the coin or currency, herein prescribed.

          The
Securities may be redeemed in whole at any time, or in part from time to
time, at the option of the Corporation, at a redemption price equal to the greater of (1) 100% of
the principal amount of the Securities to be redeemed, and (2) the sum of the present values
of the remaining scheduled payments of principal and interest thereon discounted to the date
of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the applicable Treasury Rate plus 15 basis points, plus accrued and unpaid interest
on the principal amount being redeemed to redemption.

          “TREASURY RATE” means, with respect to any redemption date, (1) the yield, under the heading
which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15 (519)” or any “successor publication which is
published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant maturity under the
caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the Remaining Life, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue will be
determined and the Treasury Rate will be interpolated or extrapolated from such yields on a
straight line basis, rounding to the nearest month) or (2) if such release (or any successor
release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per annum equal

20

 

to the semi-annual equivalent yield-to-maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price of such redemption date. The Treasury Rate
will be calculated on the third Business Day preceding the redemption date.

          “BUSINESS DAY” means any calendar day that is not a Saturday, Sunday or legal holiday in
New York, New York and on which commercial banks are open for business in New York, New York.

          “COMPARABLE TREASURY ISSUE” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining
Life”) of the Securities to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining term of such
Securities.

          “INDEPENDENT
INVESTMENT BANKER” means Goldman, Sachs & Co. and its successor or, if such firm is unwilling or unable to select the Comparable Treasury
Issue, an independent investment banking institution of national standing appointed by the Trustee
after consultation with the Corporation.

          “COMPARABLE TREASURY PRICE” means (1) the average of five Reference Treasury Dealer Quotations
for such redemption date, after excluding the highest and lowest Reference Treasury Dealer
Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations.

          “REFERENCE TREASURY DEALER” means (1) each of Goldman, Sachs
&Co. Morgan Stanley & Co. Incorporated and Salomon Smith Barney Inc. and their respective
successors, provided, however, that if any of the foregoing shall cease to be a primary U.S.
government securities dealer in New York City (a “Primary Treasury Dealer”), the Corporation will
substitute for such underwriter another Primary Treasury Dealer, and (2) any other Primary
Treasury Dealer selected by the Independent Investment Banker after consultation with the
Corporation.

          “THE REFERENCE TREASURY DEALER QUOTATIONS” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Independent Investment Banker,
of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Independent Investment Banker at
5:00 p.m., New York City time, on the third Business Day preceding such redemption date.

21

 

          If (1) as a result of any change in, or amendment to, the laws (or any regulations or rulings
promulgated thereunder) of the United States (or any political subdivision or taxing authority
thereof or therein), or any change in, or amendments to, the official position regarding the
application or interpretation of such laws, regulations or rulings, which change or amendment is
announced or becomes effective on or after July 31, 2000, the Corporation becomes or will become
obligated to pay Additional Amounts or (2) any act is taken by a taxing authority of the United
States on or after July 31, 2000, whether or not such act is taken with respect to the Corporation
or any affiliate, that results in a substantial probability that the Corporation will or may be
required to pay such Additional Amounts, then the Corporation may, at its option, redeem, as a
whole, but not in part, the Notes on not less than 30 nor more than 60 days’ prior notice, at a
redemption price equal to 100% of their principal amount, together with interest accrued but unpaid
thereon to the date fixed for redemption; provided that the Corporation determines, in its business
judgment, that the obligation to pay such additional amounts cannot be avoided by the use of
reasonable measures available to it, not including substitution of the obligor under the Notes. No
redemption pursuant to (2) above may be made unless the Corporation shall have received an opinion
of independent counsel to the effect that an act taken by a taxing authority of the United States
results in a substantial probability that it will or may be required to pay the Additional Amounts
and the Corporation shall have delivered to the Trustee a certificate, signed by a duly authorized
officer, stating that based on such opinion the Corporation is entitled to redeem the Notes
pursuant to their terms.

          The Corporation shall have no obligation to redeem, purchase or repay this
Note pursuant to any sinking fund or analogous provision or at the option of the Holder
hereof.

          This Note is subject to defeasance on the terms and conditions stated in the Indenture.

          Terms defined in the Indenture and not defined otherwise herein shall have the respective
meanings assigned thereto in the Indenture.

          This Note shall not be valid or become obligatory for any purpose until the certificate
of authentication hereon shall have been signed by the Trustee in accordance with the
Indenture.

22

 

          WITNESS THE SEAL OF THE CORPORATION AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS.

	 	 	 	 	 
	Dated: August 3, 2000

	 	VISTEON CORPORATION

	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 
	 

	 	 	Name:
	 

	 	 	Title:
	 
	 	 	 	 
	[SEAL]

	 	By:	 	 
	 

	 	 	 
	 

	 	 	Name:
	 

	 	 	Title:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

THIS IS ONE OF THE SECURITIES OF THE
 SERIES
DESIGNATED THEREIN REFERRED TO 
IN THE
WITHIN-MENTIONED INDENTURE.

BANK ONE TRUST COMPANY, N.A.,
 AS
TRUSTEE

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

23

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