Document:

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                                                                   EXHIBIT 10.19

                               VISTEON CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

              Effective July 1, 2000, Together With All Amendments
                        Adopted Through December 11, 2002

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                               VISTEON CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

         The Visteon Corporation Supplemental Executive Retirement 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 July 1, 2000.

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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)    Balance Plus Program: The Balance Plus component of the Visteon
Pension Plan.

         (b)    Beneficiary: The person or entity designated by a Participant
to be his or her 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
beneficiary 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 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 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.

         (c)    Board: The Board of Directors of the Company.

         (d)    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.

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

         (f)    Company: Visteon Corporation, or any successor thereto.

         (g)    Covered Employment Classification: The employment positions
classified by the Company (or by a Participating Employer with the consent of
the Company) as Leadership Level One, Leadership Level Two, Leadership Level
Three, Leadership Level Four, Corporate Officer, Executive Leader or Senior
Leader.

         (h)    Credited Service: The years and any fractional year of credited
service at retirement, without duplication and not exceeding one year for any
calendar year, of the Participant under all the Retirement Plans; provided, that
solely for purposes of this Plan as applied to a Participant who is a
Transferred Group I or II Employee as defined under the Visteon Pension Plan,
and subject to Section 2.03, the Participant's credited service under all of the
Retirement Plans shall be deemed to include, to the extent not otherwise
considered under the Retirement Plans, the Participant's credited service
recognized under the General Retirement Plan of Ford Motor Company for
employment through June 30, 2000.

         (i)    Eligibility Service: Subject to Section 2.05, service with a
Participating Employer while employed in a Covered Employment Classification;
provided, that in the case of a Participant who was covered under the Ford Motor
Company Supplemental Executive Retirement Plan on June 30, 2000, Eligibility
Service recognized for such Participant under the Ford Motor Company
Supplemental Executive Retirement Plan as of June 30, 2000 shall be recognized
as Eligibility Service under this Plan.

         (j)    Employee: A person who is (i) classified by a Participating
Employer as a common law employee 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).

         (k)    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

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time. Any reference to a specific provision of ERISA shall be deemed to include
reference to any successor provision thereto.

         (l)    Participant: Subject to Section 2.05, an Employee who is
employed in a Covered Employment Classification, and where the context so
requires, a former Employee entitled to receive a benefit hereunder.

         (m)    Participating Employer: The Company, Visteon Systems, LLC,
Visteon Global Technologies, 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.

         (n)    Plan: The Visteon Corporation Supplemental Executive Retirement
Plan, as amended and in effect from time to time.

         (o)    Retirement Plans: The Visteon Pension Plan (other than the
                Balance Plus Program) and the Salaried Retirement Plan of
                Visteon Systems, LLC, 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

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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. SUPPLEMENTAL BENEFITS FOR PARTICIPANTS OTHER THAN
              PARTICIPANTS COVERED UNDER THE BALANCE PLUS PROGRAM

         Section 2.01. Eligibility. Subject to Section 2.05, a Participant shall
be eligible to receive a supplemental benefit as provided in this Article II if
the Participant:

         (a)    retires directly from employment with a Participating Employer
(i) on normal or disability retirement under the Retirement Plan, or (ii) with
the approval of the Participating Employer at or after age 55 on early
retirement under the Retirement Plan;

         (b)    will receive a monthly normal, disability or early retirement
benefit under one or more Retirement Plans (other than the Balance Plus
Program);

         (c)    has at least ten (10) years of Credited Service, without
duplication, under all Retirement Plans;

         (d)    has at least five continuous years of Eligibility Service
immediately preceding retirement, unless the eligibility condition set forth in
this subsection (d) is waived by the Chairman of the Board or the President of
the Company; and

         (e)    is not covered by the Balance Plus Program.

         Section 2.02. Additional Definitions. For purposes of this Article II,
the following terms have the meanings indicated below:

         (a)    Final Five Year Average Base Salary: The average of the
Participant's Monthly Base Salary for the five December 31 measurement dates
coincident with or immediately preceding the Participant's retirement.

         (b)    Monthly Base Salary: Subject to Section 2.05, the monthly base
salary paid to a Participant while employed in a Covered Employment
Classification on December 31, prior to giving effect to any salary reduction
agreement to which Section 125 or Section 402(a)(8) of the Code applies, but not
including any other kind of extra or additional compensation. For purposes of
this subsection, base salary paid by Ford Motor Company prior to July 1, 2000
shall be treated as if paid by the Company.

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         Section 2.03. Amount of Supplemental Benefit.

         (a) Subject to Section 2.05, any reductions pursuant to subsections (b)
and (c) below and to any limitations and reductions pursuant to other provisions
of the Plan, the monthly supplemental benefit shall be an amount equal to the
Participant's Final Five Year Average Base Salary multiplied by the
Participant's years of Credited Service at retirement, and further multiplied by
the Applicable Percentage based on the Covered Employment Classification in
which the Participant served immediately prior to his or her retirement, as
follows:

<Table>
<Caption>
  Covered Employment Classification
  Immediately Prior to Retirement                          Applicable Percentage
  ---------------------------------                        ---------------------
<S>                                                              <C>
         Chairman                                                0.90%

         President                                               0.80%

         Executive Vice President                                0.80%

         Senior Vice President                                   0.75%

         Vice President                                          0.70%

         Executive Leader or Leadership                          0.40%
         Level Two

         Senior Leader, Leadership Level Three, or               0.20%
         Leadership Level Four
 </Table>

         (b)    For a Participant who is a Transferred Group I or II Employee as
defined under the Visteon Pension Plan and who is entitled to a benefit under
the Ford Motor Company Supplemental Executive Retirement Plan, the monthly
supplement benefit payable hereunder shall be reduced by the amount of the
supplemental benefit to which the Participant is entitled under the Ford Motor
Company Supplemental Executive Retirement Plan (or to which the Participant
would have been entitled under such plan except for any forfeiture of benefits
attributable to the Participant's conduct). In addition, the Committee may
further adjust the monthly supplemental benefit payable to a Participant who is
a Transferred Group I or II Employee if such action is necessary or desirable as
a result of changes in the Ford Motor Company Supplemental Executive Retirement
Plan or if such action is otherwise necessary or desirable in order to avoid
duplicative benefits or to ensure that the Participant's aggregate

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benefit from this Plan and from the Ford Motor Company Supplemental Executive
Retirement Plan, and the allocation of benefits between such plans, is
consistent with the Employee Transition Agreement dated April 1, 2000 by and
between the Company and Ford Motor Company, and any amendments thereto.

         (c)    For a Participant who shall retire before age 62, the monthly
supplemental benefit payable hereunder shall equal the amount calculated in
accordance with subsections (a) and (b) immediately above, reduced by 5/18 of 1%
multiplied by the number of months from the later of the date the supplemental
benefit commences, or age 55 in the case of earlier receipt by reason of
disability retirement, to the first day of the month after the Participant would
attain age 62.

         Section 2.04. Payments. Subject to the earning-out conditions set forth
in Article VI, supplemental benefits, in the amount determined under Section
2.03, shall be payable out of the Company's general funds monthly beginning with
a payment for the month for which the Participant's retirement benefit under any
Retirement Plan or under the Company's Executive Separation Allowance Plan
begins. Payments to a Participant hereunder shall cease at the end of the month
in which the Participant dies. There is no pre-retirement or post-retirement
death benefit payable this Article II following the death of the Participant.

         Section 2.05. Special Rules for Certain Employees Affected by 2001 Work
Force Restructuring Program. The following rules shall apply to an Employee who
(i) was employed in a Covered Employment Classification immediately prior to the
Company's 2001 Work Force Restructuring (the "Restructuring"), and (ii)
continued to be employed by a Participating Employer following the Restructuring
but, as a result of the Restructuring, ceased to be employed in a Covered
Employment Classification:

         (a)    The Employee will continue as a Participant in the Plan
notwithstanding the Employee's transfer to a non-Covered Employment
Classification.

         (b)    The Employee will continue to accumulate Eligibility Service for
employment with a Participating Employer following the Restructuring, and such
employment shall be treated, for purposes of Section 1.01(j), 2.01(d) and
2.02(b), as if it were employment in an Eligible Employment Classification.

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     (c)   The amount of the Employee's supplemental benefit under Section 2.03
shall be based on the Covered Employment Classification in which the Employee
was employed immediately prior to the Restructuring.

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           ARTICLE III. SUPPLEMENTAL BENEFITS FOR PARTICIPANTS IN THE
                              BALANCE PLUS PROGRAM

         Section 3.01. Eligibility. A Participant shall be eligible to receive a
supplemental benefit as provided in this Article III if the Participant:

         (a)    is covered under and will receive a monthly annuity benefit from
the Balance Plus Program;

         (b)    is employed in a Covered Employment Classification at
termination of employment; and

         (c)    terminates employment after his or her SERP Eligibility Date
with the approval of the Participating Employer.

         Section 3.02. Additional Definitions. For purposes of this Article III,
the following terms have the meanings indicated below:

         (a)    Annual Incentive: The portion of the Visteon Incentive Plan, or
any successor plan, that provides for incentive compensation that is awarded in
the form of a cash bonus and that is based on a performance period of 12 months
or less.

         (b)    Compensation: The Participant's compensation as defined in the
Balance Plus Program for purposes of determining cash balance accruals, plus for
any month after the Participant's SERP Eligibility Date, any Annual Incentive
amounts actually paid to the Participant (or that would have been paid to the
Participant except for the Participant's election to defer all or a portion of
such payment), all as determined without regard to the compensation limitation
of Code Section 401(a)(17).

         (c)    Final Average Compensation: The final average compensation that
would be determined for the Participant under the Balance Plus Program for
purposes of determining pension equity accruals if such final average
compensation were determined without regard to the compensation limitation of
Code Section 401(a)(17), plus the average of the three highest consecutive
Annual Incentive amounts paid to the Participant (or that would have been paid
to the Participant except for the Participant's election to defer all or a
portion of such payment)

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during the 120 month period immediately preceding the Participant's termination
of employment.

         (d)    SERP Eligibility Date: The date on which the Participant has,
for each of at least five years of Eligibility Service prior to the
Participant's termination of the employment with a Participating Employer, been
selected to participate in the Company's Annual Incentive program and has been
granted a target bonus under such program of at least 40% of the Participant's
annual base salary rate in effect on the date the target bonus amount is
established.

         Section 3.03. Amount of Supplemental Benefit.

         (a)    Subject to any limitations and reductions pursuant to other
provisions of the Plan, the monthly supplemental benefit shall be an amount
equal to:

                (i)     The monthly annuity benefit that the Participant would
                        have received under the Balance Plus Program if the
                        Participant's benefit under such program had been
                        calculated in accordance with the modifications
                        described in subsection (b) below; minus

                (ii)    The monthly annuity benefit to which the
                        Participant is actually entitled under the Balance Plus
                        Program; minus

                (iii)   The monthly annuity benefit to which the
                        Participant is actually entitled under the Visteon
                        Corporation Pension Parity Plan (or the monthly annuity
                        benefit to which the Participant would have been
                        entitled under the Visteon Corporation Pension Parity
                        Plan except for the Participant's election of a single
                        sum payment).

        (b)     The monthly annuity benefit for purposes of subsection (a)(i)
above is the monthly annuity benefit to which the Participant would have been
entitled under the Balance Plus Program if the Participant's benefit under such
program were calculated consistent with the following modifications:

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<PAGE>

                (i)     Both for purposes of calculating the Participant's
                        cash balance benefit and for purposes of calculating the
                        Participant's pension equity benefit, o the limitations
                        of Code Section 415 are disregarded;

                (ii)    For purposes of calculating a Participant's cash
                        balance benefit, the benefit is calculated by applying
                        the definition of Compensation set forth in Section
                        3.02(b) above in lieu of the definition set forth in the
                        Balance Plus Program; and

                (iii)   For purposes of calculating a Participant's
                        pension equity benefit:

                        (A)   The benefit is calculated by applying a benefit
                              multiplier of 15% in lieu of the 12.5% benefit
                              multiplier specified in the Balance Plus Program;

                        (B)   The benefit is calculated by applying the
                              definition of Final Average Compensation set forth
                              in Section 3.02(c) above in lieu of the definition
                              set forth in the Balance Plus Program; and

                        (C)   The benefit is calculated by applying the
                              following early commencement reduction factors in
                              lieu of the early commencement factors set forth
                              in the Balance Plus Program:

<Table>
<Caption>
         Applicable Period Preceding Participant's
                 Normal Retirement Date                                            Reduction
         -----------------------------------------                      --------------------------------
<S>                                                                     <C>
                       First 5 Years                                             1.25% Per Year*
         Years in Excess of 5 But Not More Than 20                               3.75% Per Year*
                   Years in Excess of 20                                Actuarially Equivalent Reduction*
</Table>

* The reduction will be prorated for portions of a year, by multiplying the
applicable reduction for a full year by a fraction, the numerator of which is
the number of full months in such partial year, and the denominator of which is
12. In addition, the reduction is cumulative, e.g., if the Applicable Period is
23 years prior to the Participant's Normal Retirement Date, the reduction is
1.25% for each of years one through five, 3.75% for each of years six through
20, and an Actuarially Equivalent reduction for years 21 through 23.

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<PAGE>

        (c)     A Participant who becomes disabled while actively employed will
continue to accrue benefits under this Article III during the period of
disability to the same extent that the Participant accrues benefits under the
Balance Plus Program during the period of such disability.

         Section 3.04. Payment of Supplemental Benefit. The Participant's
monthly supplemental benefit shall be paid by the Participating Employer in the
same form and for the same period the corresponding benefit under the Balance
Plus Program is paid. Accordingly, except as provided in Section 3.05, the
supplemental benefit shall be paid to the person receiving payment of the
corresponding benefit under payable at the same time and in the same form as
paid the Participant's benefit under the Balance Plus Program with each payment
being made, as nearly as practicable, at the same time as the corresponding
benefit from the Balance Plus Plan. The interest rates, mortality factors,
annuity conversion factors, early commencement reductions, assumptions for
converting from one form of benefit to another, and all other actuarial
conversion and adjustment factors, shall be the same as those applicable in
calculating the Participant's actual annuity benefit under the Balance Plus
Program.

         Section 3.05. Death Benefits.

         (a)    If the Participant dies on or after the date on which payment
of the Participant's supplemental benefit has commenced, the only death benefits
payable shall be those (if any) that are payable under the form of annuity
benefit applicable to the Participant.

         (b)    If the Participant dies prior to the Participant's SERP
Eligibility Date, no benefits are payable following the Participant's death.

         (c)    If the Participant dies after the Participant's SERP Eligibility
Date but prior to the date on which payment of the Participant's supplemental
benefit has commenced, a single sum death benefit shall be paid to the
Participant's Beneficiary. The amount of the death benefit will be equal to the
actuarially equivalent single sum value of the monthly annuity benefit that
otherwise would have been payable under Section 3.03. Actuarial equivalence
shall be determined by using the interest rate and mortality table applicable
under the Balance Plus Program.

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                       ARTICLE IV. CONDITIONAL ANNUITIES

         Section 4.01. Eligibility. The Committee, in its discretion, may award
to a Participant who is a Corporate Officer or an employee in Leadership Level
One additional retirement income in the form of a Conditional Annuity, which
shall become payable if the Participant shall retire directly from employment
with a Participating Employer either (i) on normal or disability retirement or
(ii) with the approval of the Participating Employer at or after age 55 on early
retirement. This Article III shall only apply to a Participant whose original
date of hire is prior to January 1, 2002.

         Section 4.02.   Amount of Conditional Annuity.

         (a) In determining the amount of any Conditional Annuity to be
awarded to an eligible Participant for any year, the Committee shall consider
the Company's profit performance and the amount of supplemental compensation
that is awarded to such Participant for such year. Awards shall be made only for
years in which the Committee has decided, for reasons other than individual or
corporate performance or termination of employment, to award supplemental
compensation to an eligible Participant in an amount which is less than would
have been awarded if the historical relationship to awards to other executives
had been followed (including, for this purpose, the historical relationship to
awards made by Ford Motor Company with respect to periods prior to July 1, 2000,
during which time the Company was a wholly-owned subsidiary or division of Ford
Motor Company).

         (b) The aggregate annual amount payable under the Conditional Annuities
awarded to any eligible Participant and the annual amount payable to an eligible
Participant as a conditional annuity under the Ford Motor Company Supplemental
Executive Retirement Plan, shall not exceed an amount equal to the Applicable
Percentage of such Participant's Final Three Year Average Base Salary,
determined in accordance with the following table:

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<Table>
<Caption>
                                                                     Applicable Percentage
                                                     ------------------------------------------------------
          Number of Years for                                                                 All Other
          Which a Conditional                          Chairman                               Eligible
          Annuity is Awarded                         And President                       Corporate Officers
          ------------------                         -------------                       ------------------

               <S>                                        <C>                                      <C>
                   1                                      30%                                      20%
                   2                                      35                                       25
                   3                                      40                                       30
                   4                                      45                                       35
               5 or more                                  50                                       40
</Table>

         The percentage shall be reduced pro rata to the extent that Credited
Service at retirement is less than 30 years.

         (c)    "Final Three Year Average Base Salary" means the average of the
Participant's Monthly Base Salary (as defined in Section 2.02) for the three
December 31 measurement dates coincident with or immediately preceding the
Participant's retirement.

         Section 4.03. Payments.

         (a)    Subject to the earning-out conditions set forth in Article IV,
Conditional Annuities, in the amount determined under Section 4.02, shall be
payable out of the Company's general funds monthly beginning on the first day of
the month when the Participant's retirement benefit under any Retirement Plan or
under the Company's Executive Separation Allowance Plan begins. Except as
provided in Section 4.04, payments with respect to a Participant hereunder shall
cease at the end of the month in which such Participant dies.

         (b)    For a Participant who retires before age 65, the monthly payment
under any Conditional Annuity awarded to such Participant shall equal the
actuarial equivalent (based on factors determined by the Company's independent
consulting actuary) of the monthly amount payable for retirement at age 65.

         Section 4.04. Death Benefits. Upon death before retirement but at or
after age 55, the Participant's Beneficiary shall be paid a lump sum equal to 30
times (representing 30 months) the aggregate monthly amount payable under such
Participant's Conditional Annuities if the

                                      -16-
<PAGE>

Participant had been age 55 at death, increased by one-third of one month for
each full month by which the Participant's age at death shall exceed age 55. If
death occurs within 120 months following retirement, the monthly payments under
the Conditional Annuity shall be continued to the Participant's Beneficiary for
the remaining balance of the 120 month period following retirement.

                                      -17-
<PAGE>
                         ARTICLE V. ADDITIONAL BENEFITS

         Section 5.01. Retirement Plan Supplement for Certain Transferred
Employees. A Participant who retired on June 30, 2000 from Ford Motor Company,
and who was employed by the Company as a Corporate Officer on July 1, 2000,
shall, upon retirement from the Company, receive the additional monthly
retirement benefits described in this Section.

         (a)    An eligible Participant shall receive a monthly retirement
benefit equal to the difference between (i) and (ii) below, where:

                (i)    is the aggregate monthly retirement benefit to which
                       the Participant would have been entitled under the
                       General Retirement Plan of Ford Motor Company and the
                       defined benefit component of the Ford Motor Company
                       Benefit Equalization Plan (collectively, the "Ford
                       Pension Plans") if the Participant's employment with the
                       Company on and after July 1, 2000, and the compensation
                       attributable to such employment, had instead been
                       employment with, and compensation from, Ford Motor
                       Company; and

                (ii)   is the aggregate monthly retirement benefit under
                       the Ford Pension Plans, the Retirement Plans, and the
                       Visteon Corporation Pension Parity Plan, to which the
                       Participant is actually entitled.

         (b)    In addition, an eligible Participant shall receive a monthly
retirement benefit equal to the difference between (i) and (ii) below, where:

                (i)    is the monthly retirement benefit to which the
                       Participant would have been entitled under the Ford Motor
                       Company Supplemental Executive Retirement Plan if the
                       Participant's employment with the Company on and after
                       July 1, 2000, and the compensation attributable to such
                       employment, had instead been employment with, and
                       compensation from, Ford Motor Company; and

                (ii)   is the aggregate monthly retirement benefit under
                       the Ford Motor Company Supplemental Executive Retirement
                       Plan and under Article II of

                                      -18-
<PAGE>

                       this Plan, to which the Participant is actually entitled;
                       provided that any reduction in the Participant's benefit
                       under the Ford Motor Company Supplemental Executive
                       Retirement Plan for early benefit commencement shall be
                       taken into account only to the extent that such reduction
                       would apply if the Participant's benefit under the Ford
                       Motor Company Supplemental Executive Retirement Plan
                       commenced on the same date as the Participant's benefit
                       under Article II of this Plan commence.

         (c)    The supplemental benefit under subsection (a) above shall be
paid beginning with a payment for the month following the month in which occurs
the Participant's retirement from the Company and all subsidiaries or
affiliates, and shall be paid in the same form and for the same duration as is
paid the Participant's benefit under the General Retirement Plan of Ford Motor
Company. The supplemental benefit under subsection (b) above shall be paid in
accordance with Article II of this Plan as if the benefit had been initially
calculated under that Article.

         (d)     The monthly retirement benefits calculated under subsections
(a)(i) and (b)(I) shall be determined based upon the terms of the applicable
Ford Motor Company plan as in effect on June 30, 2000. The Committee has full
authority and discretion to adjust (including to reduce) the benefit amounts
calculated above to reflect changes in the design of the applicable Ford Motor
Company plan or to take into account such other factors as the Committee, in its
sole discretion, deems relevant.

         (e)    The Committee may adjust the benefit otherwise payable under
this Section 5.01 if such action is necessary or desirable on account of
differences in the form or time of payment under the plans and arrangements
described in this Section 5.01 or on account of such other factors identified by
the Committee as making an adjustment necessary or desirable.

         Section 5.02. Additional Benefits for the Chief Operating Officer.

         (a)    This Section applies to a Participant who was the Company's
Chief Operating Officer on January 1, 2002. Such Participant shall be entitled
to an additional benefit equal to the Participant's basic retirement benefit
under the Visteon Pension Plan and Visteon

                                      -19-
<PAGE>

Corporation Pension Parity Plan. For this purpose, the term "basic retirement
benefit" means the Participant's retirement benefit exclusive of any early
retirement supplements, interim supplements or temporary benefits.

         (b)    The additional benefit shall be paid at the same time and in the
same form as the Participant's benefit under the Visteon Pension Plan and the
Visteon Corporation Pension Parity Plan is paid, and shall be subject to all of
the other terms of the conditions of such plans as if the additional benefit
were actually accrued under such plans.

                                      -20-
<PAGE>

                       ARTICLE VI. EARNING OUT CONDITIONS

       Section 6.01. Conditions Applicable to Continued Payment of Award.

         (a)    Anything herein contained to the contrary notwithstanding, the
right of any Participant to receive benefit payments hereunder for any month
shall accrue only if, during the entire period from the date of retirement to
the end of such month, 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.

                                      -21-
<PAGE>

         (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).

                                      -22-
<PAGE>

                        ARTICLE VII. GENERAL PROVISIONS

         Section 7.01. 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 7.02. 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.

                                      -23-
<PAGE>

         Section 7.03. Deductions. Anything contained in the Plan
notwithstanding, a Participating Employer may deduct from any distribution
hereunder all amounts owed to the Company or a Participating Employer by the
Participant for any reason, and all taxes required by law or government
regulation to be deducted or withheld.

         Section 7.04. 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. 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. 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 90 days of receiving notice of
the claim denial. 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

                                      -24-
<PAGE>

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.

         Section 7.05. 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 7.06. 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,

                                      -25-
<PAGE>

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 7.07. 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 the Committee shall have the exclusive
amendment authority with respect to any amendment that, if adopted, would
increase the benefit payable to the Senior Vice President - Human Resources by
more than a de minimis amount. Any Plan amendment or termination may reduce or
eliminate a Participant's benefit under the Plan, including, without limitation,
an amendment to eliminate future benefit payments for some or all Participants,
whether or not in pay status at the time such action is taken.

         Section 7.08. Administrative Expenses. Costs of establishing and
administering the Plan will be paid by the Participating Employers.

         Section 7.09. 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
(b) 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 7.10. 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.

                                         VISTEON CORPORATION

                                         /s/ Robert H. Marcin
                                         -------------------------------------
                                         ROBERT H. MARCIN
                                         SENIOR VICE PRESIDENT-HUMAN RESOURCES

                                      -26-<PAGE>
                                                                   EXHIBIT 10.21

                                SERVICE AGREEMENT

                                     between

                Visteon International Business Development, Inc.
                            728 PARKLANE TOWERS EAST
                               DEARBORN, MI 48126

                  - hereinafter referred to as the "Company" -

                                       and

                             Dr. Heinz Pfannschmidt

                  - hereinafter referred to as the "Director" -

                - jointly hereinafter referred to as "Parties" -

<PAGE>

GENERAL

By resolution of the Board of Directors of Visteon Corporation of Sept. 20, 2001
Dr. Heinz Pfannschmidt has been appointed an officer of Visteon Corporation. The
appointment will become effective on November 1, 2001. With regard to the
advisory services that Dr. Pfannschmidt will render to the Company, the Parties
enter into the following

                               Service Agreement.

SECTION 1 POSITION OF THE DIRECTOR

(1)      The Director has been assigned the title and function of the "President
         Europe and South America". He shall be appointed to the Board of
         Directors and be a statutory representative of the Company.

(2)      The Director will be assigned to Visteon Holdings GmbH, Cologne and
         will render comprehensive management services and other advisory
         services related to the business operations and the entities of Visteon
         Corporation in Europe and South America. He shall render his services
         in accordance with applicable law, the Articles of Incorporation and
         By-laws of the Company and this Advisory Services Agreement, all as
         applicable from time to time.

         The Company may request the Director to assume specific functions and
         positions in entities affiliated with the Company that are incorporated
         in Europe or South America.

(3)      The Director shall always safeguard the interests of the Company. Any
         business relations with suppliers, clients or other business partners
         of the Company must not be used for the personal benefit of the
         Director.

(4)      The Director declares that he is not bound by obligations to provide
         services outside the Visteon group of companies, nor that he is subject
         to non-competition obligations.

SECTION 2 DUTIES AND RESPONSIBILITIES

         The Director shall conduct the business with the diligence of a
         conscientious businessman and shall conscientiously fulfill the
         services pursuant to Section 1 (2) of this Service Agreement.

                                       2
<PAGE>

SECTION 3 FREE DETERMINATION OF WORK PLACE AND TIME AND ADDITIONAL ACTIVITIES

(1)      The Director shall be free to determine where and when he conducts the
         work underlying the services. The place and time for the performance of
         the actual advice shall be agreed among the Parties.

(2)      The Company and the Director can agree that the Director shall, without
         additional compensation, also assume assignments to the Board of
         Directors, the Supervisory Board or similar functions in affiliated
         companies. The same shall apply to honorary functions in associations
         and similar organizations in which the Company participates or is a
         member.

(3)      The assumption of any other paid or unpaid additional activity or
         honorary position including appointments to supervisory boards etc.
         require the prior written approval of the Board of Directors of the
         Company. The approval can be revoked at any time, whereby any
         provisions as to notice periods for termination of an assumed office
         must be taken into consideration.

SECTION 4 SALARY AND FULL COMPENSATION

(1)      The annual base salary shall amount to

                                DM 950,000 gross
             (in words: Deutsche Mark nine hundred fifty thousand).

(2)      The annual base salary shall be paid in thirteen equal installments.
         The 13th monthly salary shall be paid together with the salary for the
         month of November. When joining or leaving during the course of the
         calendar year, the 13th monthly salary shall be paid pro rata temporis.
         This compensation shall cover holiday pay, Christmas bonus and the
         like, as well as any overtime worked. The salary is payable at the end
         of each respective month and shall be transferred to the checking
         account indicated by the Director.

(3)      The base salary and the other compensation and benefits agreed in this
         Service Agreement shall constitute the full and entire compensation of
         the Director for the services rendered under this Agreement.

SECTION 5 VARIABLE COMPENSATION

         The Director will be entitled to participate in Visteon Corporation's
         Long Term Incentive Plans (currently in the form of the Visteon
         Corporation 2000 Incentive Plan), as it exists from time to time. The
         amounts named below are gross amounts and will be payable net of all
         applicable taxes and contributions to social security institutions. The
         Director shall be responsible for the payment of all

                                       3
<PAGE>

         taxes, in particular income tax and contributions to social security
         institutions. The performance targets will be determined by the Board
         of Directors of the Company in accordance with any available
         compensation plans applicable to the Company. They also require the
         approval of Visteon Corporation.

         (a)    Under the Short Term Incentive Opportunity the Director shall be
                eligible for an amount of sixty percent of the annual base
                salary of the Director if the performance targets are reached in
                all respects.

         (b)    Under the Long Term Incentive Plan the Director shall be
                eligible for an incentive opportunity of two hundred percent of
                the annual base salary of the Director if the performance
                targets are reached in all respects. The performance targets
                shall be determined as the achievement of certain financial and
                operational goals for Visteon Corporation and its affiliates
                over a three year period. Fifty percent of the opportunity shall
                be paid out in cash adjusted for performance, and twenty-five
                percent in Visteon Corporation common stock adjusted for
                performance. Twenty-five percent of the opportunity will be
                delivered in options relating to common stock in Visteon
                Corporation.

SECTION 6 RESTRICTED STOCK, STOCK OPTIONS AND STOCK OWNERSHIP

(1)      The Director will be granted, within three months of the commencement
         of this Advisory Services Agreement, 25,000 shares of common stock of
         Visteon Corporation in the form of restricted stock. The restricted
         stock shall not be salable before the fifth anniversary of the
         commencement of this Service Agreement. Further details are set forth
         in the restricted stock plan of Visteon Corporation (currently in the
         form of the Visteon Corporation 2000 Incentive Plan), as it exists from
         time to time. The Director shall be responsible for all taxes, in
         particular income tax, and contributions payable in connection with the
         receipt and sale of the restricted stock.

(2)      The Director will be granted, within three months of the commencement
         of this Service Agreement, stock options relating to 45,000 shares of
         common stock of Visteon Corporation that will vest ratably over a
         three-year period starting with the commencement of this Service
         Agreement. The strike price for these options shall be the average of
         the high and low prices for shares of common stock in Visteon
         Corporation quoted on the New York Stock Exchange on the date this
         Service Agreement commences or on the next following trading day if
         trading does not occur on the commencement date of this agreement.
         Further details are set forth in the stock option plan of Visteon
         Corporation, as it exists from time to time. The Director shall be
         responsible for all taxes, in particular income tax, and contributions
         payable in connection with the receipt and exercise of the stock
         options and the sale of the shares received upon such exercise.

                                       4
<PAGE>

SECTION 7 SIGN-ON BONUS

         The Director will receive, within three months of the commencement of
         this Service Agreement, a sign-on bonus in the amount of the sum of the
         lost bonus from his previous employer and the Visteon target for two
         months of 2001. The amounts named in this Section 7 are gross and will
         be payable net of all applicable taxes and contributions to social
         security institutions. The Director shall be responsible for the
         payment of all taxes, in particular income tax and contributions to
         social security institutions.

         (a)   The lost bonus constitutes the amount that the Director would
               have received as a bonus from his previous employer for the full
               calendar year 2001 had he not terminated his employment with his
               previous employer effective October 31, 2001. The lost bonus for
               the purposes of this Section 7 shall not exceed US$ 350,000
               gross.

         (b)   The Visteon target for the Director for the year 2001 amounts to
               US$ 95,000. For the purposes of this Section 7 the annual target
               is divided by six to obtain the two-months number.

SECTION 8 FLEXIBLE PERQUISITE PLAN

         For each complete calendar year, the Director shall receive
         reimbursement of expenses for financial planning, security, physical
         examination, membership in clubs or for other purposes, and it shall be
         available to the Director during the course of the calendar year as he
         sees fit. Reimbursements will be made up to an amount equivalent to US$
         15,000.00 gross. If the Director either starts or ends his services
         during the course of a calendar year, the amount payable under the
         flexible perquisite plan shall be prorated. The Director shall be
         liable for all taxes, dues and contributions payable for this amount.

SECTION 9 STATUTORY SOCIAL SECURITY CONTRIBUTIONS

         The Company shall pay 50% of the contributions to be made to the
         statutory pension-, unemployment-, health-, and nursing insurance on
         behalf of the Director. To the extent that the Director is not a member
         of a statutory health- or nursing insurance (Pflegeversicherung), the
         Company shall pay the Director 50% of those contributions that would
         otherwise be made to the respective social security carrier.

                                       5
<PAGE>

SECTION 10 GROUP ACCIDENT INSURANCE

         Within the scope of a voluntary casualty insurance program, the Company
         shall take out a casualty insurance (in addition to the statutory
         casualty insurance with the vocational league or Berufsgenossenschaft)
         for following amounts:
<Table>

         <S>                                         <C>
         In case of death                            DM 300,000.00
         Invalidity                                  DM 600,000.00
         Per diem allowance from the 43rd day        DM     100.00
         Medical care (Heilkosten) up to             DM   2,000.00 (secondary)
         Recovery costs up to                        DM   5,000.00.
</Table>

         The insurance coverage shall include any business related or private
         accidents of daily life and shall be applicable anywhere in the world
         at land, at sea, or in the air.

         In the event of death the legal heirs shall be the beneficiaries.
         However, the Director shall be entitled to name a different person as
         beneficiary by submitting a respective declaration to the personnel
         department.

         The Company retains the right to revoke at any time the described
         insurance coverage.

         Taxes due in connection with the monetary advantages based on payment
         of premiums shall be paid as a lump sum. The Company shall charge the
         Director the amount of the taxes paid.

         The insurance coverage shall expire upon termination of this Service
         Agreement.

SECTION 11 LIFE INSURANCE

         The Company shall take out a renewable term insurance policy
         (Risikolebensversicherung) for the event of death of the Director in
         the amount of DM 400,000. The beneficiaries of this insurance policy
         shall be the heirs of the Director.

SECTION 12 COMPANY PENSION SCHEME

         The Director shall receive a company pension.  The terms shall be
         subject to a separate agreement

                                       6
<PAGE>

SECTION 13 COMPANY CAR

         The use of company cars will be provided by Visteon Holdings GmbH under
         its pertinent terms and conditions.

SECTION 14 SALARY PAYMENT IN THE EVENT OF ILLNESS OR DEATH

(1)      In the event of disability for service due to illness
         (krankheitsbedingte Arbeitsunfahigkeit), the Company shall continue to
         pay the Director the monthly salary pursuant to Section 4 for up to six
         weeks. In addition, the Company shall pay the difference between the
         last net monthly salary pursuant to Section 4 and the amount which the
         statutory health insurance pays, or would pay, if the Director had
         statutory health insurance coverage (company health insurance benefits
         or BKK-Krankengeldsatz) for a total period of up to twelve months.

(2)      To the extent that the Director has damage claims towards third party
         for loss of wages due to disability of service, the Director hereby
         assigns such claim to the Company insofar as the Company continues to
         pay his salary or other benefits in money's worth and to make
         contributions to the social security carrier and other third parties in
         accordance with this Agreement. The Director shall immediately provide
         the Company with the information which is necessary for the assertion
         of the claim.

(3)      In the event of death, the dependants (widow and children entitled to
         support) shall receive the full salary for the month of death and the
         three subsequent months.

SECTION 15 DATA STORAGE

         The Director agrees that his personal data is stored and processed in
         accordance with statutory provisions.

SECTION 16 NON-COMPETE

         During the term of this Service Agreement, the Director shall not be
         allowed to act as a self-employed entrepreneur, an employee or in any
         other way for or on behalf of a direct or indirect competitor of the
         Company. Furthermore, the Director shall not be allowed to establish or
         to acquire such a competitor or to directly or indirectly participate
         in such a competing company.

                                       7
<PAGE>

SECTION 17 RETURN OF DOCUMENTS

(1)      At the termination of this Service Agreement, or in the event of a
         release of the Director from his duties, the Director is obliged to
         immediately and fully return to the Company all items of property and
         documents that relate to the Company. This shall apply, in particular,
         to keys, books, data-carriers, printed items of any kind, documentation
         or drafts as well as extracts or copies thereof. The Director shall
         have no right of retention with respect to these items and documents.

(2)      All aforementioned items shall remain, or become at the time of
         creation, the property of the Company.

SECTION 18 INVENTIONS

(1)      The Director transfers to the Company in advance all patentable or
         other inventions, developments, and industrial property rights eligible
         for protection made or acquired by him during the term of this Service
         Agreement. To the extent that such transfer cannot be made in advance,
         the Director is under the obligation to make such transfers as soon as
         possible. These obligations shall apply to domestic, foreign, and
         international rights.

(2)      The Company shall be obliged to register the inventions of the
         Director and to inform the Director of such registration.

(3)      The Director receives no special compensation. The compensation for the
         transfer of these rights pursuant to subsection (1) is included in the
         compensation stipulated in this Agreement.

SECTION 19 TERM

(1)      This Service Agreement shall become effective on November 1, 2001.

(2)      This Service Agreement ends automatically at the respective times
         stated in the cases listed below without requiring a special
         termination notice:

         (a)    upon expiration of the time period for which the Director has
                been appointed an officer of Visteon Corporation;

         (b)    upon resignation from the appointment as an officer of Visteon
                Corporation; and

         (c)    when the Managing Director-Service Agreement between the
                Director and Visteon Holdings GmbH ends.

                                       8
<PAGE>

(3)      In addition, the Service Agreement may be terminated by either side (i)
         within the first 12 months of this Agreement with a notice period of 36
         months, and (ii) after expiry of the first 12 months with a notice
         period of 24 months.

         Upon declaration of termination of this Service Agreement or upon
         declaration of termination of the Managing Director-Service Agreement
         between the Director and Visteon Holdings GmbH, the Director may demand
         that the payments payable to him under this Service Agreement during
         the notice period are settled by payment of a singular amount. This
         singular amount shall consist of the sum of all individual amounts
         after they have been discounted. In the event of termination after the
         expiry of the first 12 months of this Agreement, the Managing Director
         may also demand that the payments due to him be distributed evenly over
         a period of 36 months. Such distribution shall not otherwise constitute
         an extension of this Agreement.

(4)      The appointment of the Director as an officer of Visteon Corporation
         can be revoked by Visteon Corporation at any time. The revocation of
         the appointment shall constitute a termination of this Service
         Agreement by the Company with the notice period stated in subsection
         (3) above.

SECTION 20 CONFIDENTIALITY

         For the duration of this Service Agreement and thereafter the Director
         shall be obliged to treat as confidential all information or data
         relating to the Company, or any of its affiliated companies, of which
         he becomes aware and shall not to disclose any documents concerning the
         Companies, or any of its affiliated companies, either himself or
         through third parties. This refers specifically to business and
         operational secrets, know-how, information, designs, manufacturing
         processes, formulas, patents, and improvements as well as financial
         information and customer lists that concern the business activities or
         products of the Company or of its affiliated companies. The same
         obligations shall apply with regard to any predecessors in business,
         suppliers, agents, distributors or customers.

SECTION 21 POST-CONTRACTUAL NON-COMPETE

(1)      For a duration of two years following the termination of the Service
         Agreement, the Director agrees not to work for a company that competes
         with the Company, or a company affiliated with the Company (competing
         company or Konkurrenzunternehmen). Free-lancing or consulting
         activities shall also not be permissible. The non-compete obligation
         shall not apply if the Service Agreement terminates due to permanent
         disability (dauernde Arbeitsunfahigkeit). The Company may, at any time,
         waive the non-compete obligation with a notice period of three months.

                                       9
<PAGE>

(2)      The Company shall pay the Director a compensation for the duration of
         the non-compete obligation in the amount of 50% of the salary pursuant
         to Section 4.

(3)      If the non-compete obligation is breached, the Company shall be under
         no obligation to pay the compensation.

SECTION 22 FINAL PROVISIONS

(1)      This Service Agreement is agreed under the condition precedent that the
         Managing Director-Service Agreement between the Director and Visteon
         Holdings GmbH has been duly executed and has come into full force and
         effect.

(2)      Furthermore, the Director agrees to inform the Company without delay of
         any change of residence. In this respect all legal acts of the Company
         shall be deemed as having been validly effected, if they have been made
         under the address last notified by the Director.

(3)      Changes or amendments of this Service Agreement require written form.

(4)      If individual provisions of this Service Agreement or parts of
         provisions of this Service Agreement are or become void, the validity
         of the other provisions of this Agreement shall not be affected
         thereby. The void provision shall be replaced by a legal provision
         which comes as close as possible to the economic and legal rationale of
         the void provision. The same shall apply accordingly to gaps in this
         Agreement.

(5)      Claims arising under this Service Agreement are to be made within a
         period of six months after they become due. Otherwise these claims
         shall be excluded.

(6)      This contract will be exclusively governed by Michigan law.

Dearborn, October 23, 2001                          Bargum, October 23, 2001

For the Company

/s/ Robert Marcin                                   /s/ Dr. Heinz Pfannschmidt
-----------------                                   --------------------------
Robert Marcin                                       Dr. Heinz Pfannschmidt

                                       10

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