Amendment to Visteon Corporation Employees Equity Incentive Plan (Effective June 14, 2007)
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Summary
This amendment updates the Visteon Corporation Employees Equity Incentive Plan, specifically changing how employees can pay for shares when exercising stock options. The amendment allows the plan administrator to accept various forms of payment, including cash, surrendering company stock, a cashless exercise through a broker, or a combination of these methods. The value of any stock used as payment will be based on its fair market value at the time of exercise. The administrator will also decide if physical share certificates must be delivered to the company.
EX-10.2 3 k16110exv10w2.htm AMENDMENT TO VISTEON CORPORATION EMPLOYEES EQUITY INCENTIVE PLAN exv10w2
Exhibit 10.2
Amendment to
Visteon Corporation Employees Equity Incentive Plan
(Effective as of June 14, 2007)
(Effective as of June 14, 2007)
Subsection 4(e)(2) of the Visteon Corporation Employees Equity Incentive Plan is hereby amended to read as follows:
(2) Subject to applicable law and/or accounting expense implications, the consideration to paid for shares of Stock purchased upon exercise of an Option granted hereunder shall be determined by the Administrator, which, in addition to any other types of consideration the Administrator may so determine, may include the acceptance of the following: (i) cash, (ii) the delivery or surrender of shares of Stock (including the withholding of Stock otherwise deliverable upon exercise of the Option), (iii) a “cashless” sale and remittance procedure executed through a broker-dealer, or (iv) any combination of the foregoing methods of payment. Any such shares of Stock so delivered or surrendered shall be valued at their Fair Market Value on the date of such exercise. The Administrator shall determine whether and if so the extent to which actual delivery of share certificates to the Company shall be required.
