The current paper investigates German verb-noun compounds like Parkticket (‘park ticket’) and examines the structural and semantic visibility of the verbal modifier and, in particular, its situation variable. The latter will be analyzed as generically bound while pronominal access to this variable will be explained with the permeability of the Principle of Lexical Integrity. Several test criteria, like argument saturation and PRO control, lead to the assumption of a phrasal projection below the word level, which is ...