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VISTEON HOURLY EMPLOYEE LEASE
AGREEMENT
This Amendment
No. 1 dated November 16, 2006 amends the Visteon Hourly
Employee Lease Agreement effective October 1, 2005 (the
“Lease Agreement”) between Visteon Corporation, a
Delaware corporation (“Visteon”), and Automotive
Components Holdings, LLC, a Delaware limited liability company
(“ACH”). ACH and Visteon are referred to herein
individually as a “Party” and collectively as the
“Parties”.
The Parties wish
to amend the Lease Agreement to allow the hire of certain temporary
hourly employees and extend the indemnity from ACH to Visteon to
address certain issues associated with ACH’s plan to request
Visteon to hire such employees, including certain former Ford
hourly employees who have or will have accepted buyouts from
Ford.
The Parties agree
as follows:
The fifth
“WHEREAS” clause is amended to read as follows:
WHEREAS, pursuant to the terms of a Memorandum of Agreement dated
as of May 24, 2005 by and between the UAW, Ford and Visteon
(“MOA”) the parties thereto agreed that all Visteon
employees represented under the Master Visteon CBA as of the
Effective Date would be converted to Ford employees and that after
the Effective Date, Visteon would hire any new hourly
employee
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