Document:

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EXHIBIT 10.82 LETTER AGREEMENT, DATED AS OF MAY 15, 2003, BETWEEN JPE, INC. AND
ROBERT A. NAGLICK

                                    JPE, INC.

                                                                    May 15, 2003

Robert A. Naglick
31375 W. Rutland Street
Beverly Hills, MI  48025

                  Re:   JPE, Inc. Letter

Dear Bob:

         In connection with the acquisition by QP Acquisition #2, Inc. of
substantially all of the capital stock of JPE, Inc. ("JPE"), you (sometimes you
are referred to in this letter as "Executive") entered into the following
agreements with JPE: (i) an Executive Severance Agreement dated as of June 21,
2002 (the "Executive Severance Agreement"), (ii) a Bonus Award letter dated as
of June 21, 2002 (the "Bonus Award Letter") and (iii) a Completion Bonus award
letter dated July 15, 2002 (the "Completion Bonus Letter," and, together with
the Executive Severance Agreement and the Bonus Award Letter, the "Severance and
Bonus Agreements").

         Under the terms of the Severance and Bonus Agreements, you will be
eligible to receive certain payments in connection with a Change of Control of
JPE (as defined in the Severance and Bonus Agreements), provided, among other
things, that you are employed by JPE as of the date of a Change of Control or,
in the case of certain payments under the Bonus Award Letter, as of the Recovery
Date (as defined therein).

         JPE is presently involved in negotiations relating to the sale (the
"Sale") of substantially all of the assets of its wholly-owned subsidiary,
Plastic Trim, Inc. ("PTI"), and certain of the assets of JPE used in the
business of PTI, to a company owned by C. William Mercurio ("Mercurio"), which
transaction, if consummated, would constitute a Change of Control for purposes
of each of the Severance and Bonus Agreements. In connection with the closing of
the Sale, the Board of Directors and the majority shareholder of JPE have
approved a Plan of Dissolution pursuant to which JPE will be dissolved and will
liquidate its remaining assets (the "Dissolution").

         You have advised us that you have received and accepted an offer of
employment which could require you to voluntarily terminate your services to JPE
prior to the closing of the Sale.
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As you are aware, such voluntary termination of your services to JPE prior to
such date would make you ineligible to receive any of the payments or other
benefits offered under the Severance and Bonus Agreements. Nonetheless, in order
to induce you to continue to provide services to JPE during substantially all of
the remaining negotiations anticipated in connection with the Sale, and to
remain available to provide certain services to JPE in connection with the
Dissolution, JPE has offered to amend or otherwise modify certain of the terms
of the Severance and Bonus Agreements and to make certain payments and other
benefits available to you in accordance with the terms and conditions set forth
in this Agreement.

         In consideration of the foregoing premises and the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and intending to be
legally bound, JPE and Executive agree as follows:

1.   Executive shall continue to provide services to JPE and its affiliates on a
     full-time basis, in his current capacity and position with each and at his
     current level of compensation and other benefits, through and including
     June 8, 2003 (the "Termination Date"). Executive shall be entitled to one
     week of paid vacation between the date of this letter and the Termination
     Date. Subsequent to the Termination Date, Executive shall be reasonably
     available to provide such services to JPE as may be required in connection
     with the Dissolution ("Additional Services"). On the Termination Date, and
     as a condition to JPE making payments and providing any other benefits to
     Executive under the Severance and Bonus Agreements, Executive shall execute
     a General Release in favor of JPE and its affiliates in form satisfactory
     to JPE ("General Release").

2.   The Executive Severance Agreement is hereby terminated, except that the
     provisions of Section 7 of such agreement regarding protection of
     confidential and proprietary information and prohibited competition and
     Section 10 regarding arbitration shall survive termination of such
     agreement.

3.   The third paragraph of the Completion Bonus Letter is amended and restated
     as follows:

     For purposes of this letter agreement, the term "Change of Control" means
     that C. W. Mercurio ("Mercurio") or any entity owned or controlled by
     Mercurio, becomes (in one transaction or in a series of related
     transactions) the beneficial owner of all or substantially all of the
     shares of JPE held by QP Acquisition #2, Inc. or becomes the owner of all
     or substantially all of the assets of JPE and its subsidiaries.

4.   The definition of "Change of Control" in paragraph 1 of the Bonus Award
     Letter is hereby amended and restated as follows:

     "Change of Control" means that C. W. Mercurio ("Mercurio") or any entity
     owned or controlled by Mercurio, becomes (in one transaction or in a series
     of related transactions) the beneficial owner of all or substantially all
     of the shares of JPE held by Questor or becomes the owner of all or
     substantially all of the assets of JPE and its subsidiaries.

                                      -2-
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5.   Paragraph 2 of the Bonus Award Letter is hereby amended and restated as
     follows:

     If there is a Change of Control on or prior to December 31, 2003, you are
     employed by JPE on June 8, 2003 and you provide the Additional Services,
     you shall be entitled to receive a payment from JPE equal to 2% of the
     Recovery Amount. The amount payable to you under this paragraph 2, if any,
     will be payable within 30 days after the Recovery Date. If you are not
     employed by JPE on June 8, 2003, do not provide Additional Services, or the
     Recovery Amount is $0, you are not entitled to a payment, and JPE is under
     no obligation to make any payment to you, under this paragraph. If you are
     entitled to a payment under this paragraph 2, but die prior to the time
     that the payment is to be made, the payment due under this paragraph 2
     shall be made to your estate.

6.   The second paragraph of the Completion Bonus Letter is hereby amended and
     restated as follows:

     If you are employed by JPE on June 8, 2003 and you sign a General Release
     then, as soon as such General Release becomes effective and non-revocable,
     you shall be paid $40,000 arising from the sale of Dayton Parts, Inc. In
     addition, if such conditions are satisfied and you provide the Additional
     Services, you shall be paid $26,875 in connection with the Change of
     Control if the Change of Control is completed by December 31, 2003. Such
     payment shall be paid within 5 business days after such Change of Control.
     If you are not employed by JPE on June 8, 2003, you do not provide the
     Additional Services or if you do not sign a General Release which becomes
     effective, you are not entitled to any payment under this paragraph, and
     JPE is under no obligation to make any payment to you, under this
     paragraph. If you are entitled to a payment under this paragraph but die
     prior to the time that the payment is to be made, the payment due shall be
     made to your estate.

7.   Except as specifically set forth herein, the terms and provisions of each
     of the Bonus Award Letter and Completion Bonus Letter shall continue in
     full force and effect in accordance with its terms.

8.   This Agreement, together with the Severance and Bonus Agreements, contains
     the entire agreement of the parties relating to the subject matter hereof
     and thereof and supercedes any prior written or oral agreements relating to
     the same subject matter.

9.   Any dispute in respect to this letter agreement shall be submitted to
     arbitration as provided in Section 10 of the Executive Severance Agreement,
     which shall remain in force notwithstanding termination of the Executive
     Severance Agreement.

10.  This letter agreement is governed by Michigan law.

11.  This Agreement may be executed in any number of counterparts (including by
     facsimile signatures), all of which taken together shall constitute one and
     the same instrument.

                                      -3-
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Please acknowledge your agreement to the terms of this Agreement by signing
below.

                                                        Sincerely,

                                                        JPE, INC.

                                                        By:
                                                           ---------------------
                                                           Scott K. Koepke
                                                           President

Acknowledged and Agreed to:

------------------------------------
Robert A. Naglick

                                      -4-Specimen of Common Stock Certificate

 
EXHIBIT 4.1

 

	 NUMBER
	 	 SHARES

	    P0799
	 	 

PATH 1 NETWORK TECHNOLOGIES INC. 
 
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

 
 

	 COMMON STOCK
	 	 CUSIP    703186    10    6            

	 	 	 SEE REVERSE FOR CERTAIN DEFINITIONS

 
 
THIS CERTIFIES THAT: 
 
 
 
 
is the owner of 
 
 
FULLY PAID AND NON-ASSESSABLE SHARES OF THE PAR VALUE OF
$.001 PER SHARE OF THE COMMON STOCK OF 
 
CERTIFICATE OF STOCK 
 
PATH 1 NETWORK
TECHNOLOGIES INC. (The “Company”) transferable on the books of the Company by the holder hereof in person or by duly authorized Attorney upon surrender of this certificate properly endorsed. 
This certificate is not valid until countersigned and registered by the Transfer Agent and Registrar. 
WITNESS the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. 
 
Dated: 
 
 

	 /s/    [SIGNATURE
ILLEGIBLE]        

 SECRETARY
	  	 [SEAL]
	 	 /s/    [SIGNATURE
ILLEGIBLE]        

 PRESIDENT

 
 

	 COUNTERSIGNED AND REGISTERED:
	 	 	 	 
	 	 	 REGISTRAR AND TRANSFER COMPANY
 (CRANFORD, NJ)
	 	 TRANSFER AGENT

	 	 	 	 	 AND REGISTRAR
  
  
 AUTHORIZED
SIGNATURE

PATH 1 NETWORK TECHNOLOGIES INC. 
 

 
THE COMPANY WILL FURNISH WITHOUT CHARGE TO ANY SHAREHOLDER WHO SO REQUESTS A FULL STATEMENT OF THE AUTHORIZED CAPITAL STOCK AND OF ALL
DESIGNATIONS, VOTING RIGHTS, PREFERENCES, LIMITATIONS AND SPECIAL RIGHTS OF THE SHARES OF EACH CLASS OR SERIES OF THE CAPITAL STOCK AUTHORIZED TO BE ISSUED SO FAR AS THEY HAVE BEEN FIXED AND DETERMINED, AND OF THE AUTHORITY OF THE BOARD OF DIRECTORS
TO FIX AND DETERMINE THE DESIGNATIONS, VOTING RIGHTS, PREFERENCES, LIMITATIONS AND SPECIAL RIGHTS OF THE CLASSES AND SERIES OF SHARES OF THE COMPANY. 
 

 
The following
abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
 

	 JT TEN
	 	 —
	 	 as joint tenants with right of survivorship and not as tenants in common
	 	 UNIF GIFT MIN ACT —
	 	 	 	                     Custodian              
      
       (Cust)                      (Minor)
	 	 UNIF TRAN MIN ACT
	 	 —
	 	 	 	                     Custodian              
      
       (Cust)                      (Minor)

	 TEN COM
	 	 —
	 	 as tenants in common
	 	 	 	 	 	 under Uniform Gifts to Minors
	 	 	 	 	 	 	 	 under Uniform Transfers to Minors

	 TEN ENT
	 	 —
	 	 husband and wife as tenants by the entireties
	 	 	 	 	 	 Act
                        
               (State)
	 	 	 	 	 	 	 	 Act
                        
               (State)

 
Additional abbreviations may also be used though not in the above list. 
 
For value received,
                                        
                                        
                             hereby sell, assign and transfer unto 
 
PLEASE INSERT SOCIAL SECURITY OR OTHER 
TAXPAYER IDENTIFYING NUMBER OF ASSIGNEE 
 

 
 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE) 
 
 

 
 

 
 
_________________________________________________________________________________________________________________________________ shares 
of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

 
 
_______________________________________________________________________________________________________________________________ Attorney 
to transfer the said stock on the books of the within named Company with full power of substitution in the premises. 
 
 
Dated
                                        
                                      
 

	 	  	  
  
 NOTICE:
 

	  	  

 THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

	
	 	  	  
  
 SIGNATURE(S) GUARANTEED:
 

	  	  

 THE SIGNATURE SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO
S.E.C. RULE 17Ad-16.

 
KEEP THIS CERTIFICATE
IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR DESTROYED, THE COMPANY WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.

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