Honda calls it's version of it the VTC. It consists of the solenoid and an actuator attached to the end of the intake cam. Other manufacturers have nearly identical systems, but call them different acronymns (Toyota calls theirs the VVT-i). They are very common in modern engines.
There is also a "VTEC" solenoid which serves a different function - opening the oil flow pathway that locks the extended lobes on the cam shaft in place - and I would bet they call it by some odd name. The VTC solenoid and actuator make up the "i" portion of the i-VTEC system, as Honda calls it. Older models had VTEC without the variable valve timing - hence no "i" on the sticker.
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