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This excerpt taken from the VC DEF 14A filed Mar 31, 2008. Nonqualified
Deferred Compensation for 2007
Table of Contents
Prior to June 2005, U.S. based executive officers were
eligible to defer up to 50% of their base salary and up to 100%
of bonuses under the Visteon Deferred Compensation Plan. In June
2005, the plan was closed to further deferrals. The investment
options in that plan generally mirror the options available
under the Visteon Investment Plan, described below, with the
addition of a Visteon stock fund. There are no limits on the
number of investment elections a participant may make. Amounts
deferred into the Visteon stock fund of the plan were allocated
based on the price of the Company’s common stock at the
time of deferral, and the value of this account is directly
related to the performance of the Company’s common stock.
Amounts deferred under the plan are generally payable in a year
specified by the employee at the time of deferral or, if
earlier, on or after the first day of the seventh month
following termination of employment.
The Named Executive Officers, as well as most U.S. salaried
employees, are also entitled to participate in the Visteon
Investment Plan, Visteon’s 401(k) investment and savings
plan. The Company matches employee contributions of up to 6% of
pay at a rate of 25% of the employee’s eligible
contributions. Amounts deferred and matched in 2007 for each
Named Executive Officer are reflected in the “Salary”
and “All Other Compensation” columns, respectively, of
the above “Summary Compensation Table.” The amounts
that may be deferred are limited by the Code.
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