Pension Plan (2003)Full Document 

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Visteon Holdings GmbH                                                     Page 1
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TRANSLATION OF THE GERMAN DOCUMENT, WHICH IS THE LEGALLY BINDING VERSION

Between Visteon Holdings GmbH, Koln
(hereinafter referred to as "Company")

and Mr Dr Heinz Pfannschmidt
(hereinafter referred to as "Employee")

the following is agreed:

                                  PENSION PLAN


                         1. PURPOSE OF THE PENSION PLAN

1.1    With this Pension Plan the Company has the objective in mind of providing
       to the Employee and his dependents additional financial security after
       retirement and in the event of death.

1.2    The benefits provided by this Pension Plan are paid in addition to the
       benefits provided by Social Security.

1.3    The costs of this Pension Plan are borne by the Company. The Employee
       does not have to make own contributions.


                              2. TYPES OF BENEFITS

2.1    The Company grants the following benefits:

           (a)   normal retirement pension

           (b)   early retirement pension

           (c)   disability pension

           (d)   widow's pension

           (e)   orphans' pension

2.2    The Employee and his eligible dependents have a legal right to these
       pension benefits, in accordance with the provisions of this Pension
       Plan.




                          3. NORMAL RETIREMENT PENSION


3.1    Normal retirement pension shall be paid for lifetime to the Employee if
       his service with the Company terminates upon or after attaining the
       Normal Retirement Date.




Visteon Holdings GmbH                                                     Page 2
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3.2    The amount of normal retirement pension depends on the Pensionable
       Service Time and the Final Pensionable Earnings.

3.3    The monthly normal retirement pension equals

       0,5% of Final Pensionable Earnings up to the Applicable Social Security
       Contribution Ceiling, multiplied by the Pensionable Service Time

       plus

       1,5% of Final Pensionable Earnings in excess of the Applicable Social
       Security Contribution Ceiling, multiplied by the Pensionable Service
       Time.


                           4. EARLY RETIREMENT PENSION

4.1    Early retirement pension shall be paid upon request to the Employee if
       his service with the Company terminates after age 55.

       Early retirement pension is also paid upon request to the Employee if the
       employment is terminated due to drawing early retirement pension under
       Social Security prior to completing age 65.

4.2    If the employee meets the requirements of Section 4.1 he may select any
       month prior to attaining the Normal Retirement Date for the commencement
       of pension payments. The early retirement pension will be calculated
       according to the provisions of Section 3.3 on the basis of accrued
       Pensionable Service Time and Final Pensionable Earnings determined as of

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