Document:

<PAGE>   1

Exhibit 10.27 - Amendment to Letter Agreement with Vinod M. Khilnani

JUNE 23, 2000

Vinod M. Khilnani
Simpson Industries, Inc.
47603 Halyard Drive
Plymouth, MI  48170-2429

         Re:      Change in Control Agreement Modification

Dear Vinod:

       As you are aware, the Board of Directors of Simpson Industries, Inc. (the
"Company") previously determined that you should be protected in the event of a
Change in Control of the Company, and you received a letter from me dated
September 1, 1997 setting forth the terms of compensation that you would receive
if your employment is terminated pursuant to a Change in Control (the
"Agreement"). Recently, the Board of Directors reviewed the terms of the
Company's Change in Control provisions, which have been in effect for a long
period of time, and concluded that the individual agreements should be updated
to reflect the current economic environment. For purposes of this letter,
"Change in Control" has the same definition as set forth in Section 3 of your
Agreement.

       This letter is intended to constitute an amendment to your Agreement and
describes certain changes in the benefits that will be provided to you if your
employment is terminated pursuant to a Change in Control. Unless specifically
addressed in this letter, the terms in your Agreement will remain unchanged.

       3.     Subsection (iii)(B) of Section 5 - Compensation upon Termination
              or During Disability is amended and restated in its entirety to
              read as follows:

                     (iii) (B) You shall be entitled to receive as severance pay
              (a) a lump sum payment to be made within 30 days of your Date of
              Termination in an amount equal to 30 months of your base monthly
              compensation, as in effect on the Date of Termination, plus the
              average of the actual short-term incentive bonus payments made to
              you during the two years prior to the Date of Termination, divided
              by 12 and multiplied by 30, reduced by applicable income and
              employment tax withholding requirements; (b) full benefits for up
              to 30 months under each employee welfare benefit plan in which you
              were entitled to participate immediately prior to the Date of
              Termination, with the health and dental continuation coverage to
              run concurrently with your COBRA rights; (c) vesting credit up to
              a maximum of 30 months under the Company's Supplemental Executive
              Retirement Plan; and (d) 100% vesting in all

<PAGE>   2

              outstanding stock options that were granted to you prior to the
              Change in Control under any of the Company's stock plans.

       4.     Subsection (iv) of Section 5 - Compensation upon Termination or
              During Disability is amended and restated in its entirety to read
              as follows:

                     (iv) Notwithstanding the foregoing, no benefits shall be
              provided under subsection (iii) to the extent (a) that the
              aggregate present value of any "parachute payments" provided to
              you under this Agreement (determined under Section 280G of the
              Internal Revenue Code of 1986, as amended [the "Code"]), when
              aggregated with parachute payments to you under all other Company
              plans, programs or agreements, exceeds 2.99 times your "base
              amount," as defined under Code Section 280G and the regulations
              thereunder, in which case, the amounts payable under this
              Agreement, when aggregated with your other parachute payments,
              shall be reduced until the present value of your aggregate
              parachute payments does not exceed 2.99 times the base amount; (b)
              they would disqualify an employee benefit plan under the Code; (c)
              they would cause an employee benefit plan to violate the Employee
              Retirement Income Security Act of 1974, as amended ("ERISA"); or
              (d) they would be denied by the insurance carrier that provides
              such coverage to the Company. Health and dental benefits shall
              cease upon eligibility through another employer's plan.

       3.     Section 10 - Arbitration is amended and restated in its entirety
              to read as follows:

                     10. Arbitration. Any dispute or controversy arising under
              or in connection with this Agreement (except as set forth in
              Section 11 below), shall be settled exclusively by arbitration in
              Oakland County, Michigan in accordance with the American
              Arbitration Association's National Rules for the Resolution of
              Employment Disputes. The arbitrator shall not have jurisdiction or
              authority to change, add to or subtract from any of the provisions
              of this Agreement. The parties to this Agreement hereby
              acknowledge that with arbitration as the exclusive remedy with
              respect to any grievance hereunder (except as set forth in Section
              11 below), neither party has the right to resort to any Federal,
              state or local court or administrative agency concerning breaches
              of this Agreement (except as set forth in Section 11 below), and
              that the decision of the arbitrator shall be a complete defense to
              any suit, action or proceeding instituted in any Federal, state or
              local court or before any administrative agency with respect to
              any dispute which is arbitrable as set forth herein. The decision
              of the arbitrator shall be final and enforceable in any court of
              competent jurisdiction.

       4.     Section 11 - Covenant Not to Compete shall be added to the
       Agreement to read as follows:
<PAGE>   3

              11. Covenant Not to Compete.

                     (vi)   During the term of your employment with the Company
                            and for a period of 30 months after your termination
                            of employment with the Company for any reason, or
                            for such shorter period as the Company may agree in
                            writing, you shall not directly or indirectly engage
                            in any activity, whether on your own behalf or as an
                            employee, consultant or independent contractor of
                            any other person or entity which competes with the
                            Company within North America for the development,
                            production or sale of any product, material or
                            process to be sold, produced or used by the Company
                            during the course of your employment with the
                            Company, including any product, material or process
                            which may be under development by the Company during
                            the course of your employment with the Company and
                            of which you have, or hereafter may gain, knowledge.

                     (vii)  You agree that the covenant not to compete set forth
                            above shall not impose undue hardship on you and is
                            reasonable in both geographic scope and duration in
                            view of: (a) the Company's legitimate interest in
                            protecting proprietary information, the disclosure
                            of which to the Company's competitors would
                            substantially and unfairly impair the Company's
                            ability to compete in the marketplace or
                            substantially and unfairly benefit the Company's
                            competitors; (b) the specialized training and
                            experience that continues to be provided to you by
                            the Company in the course of your employment with
                            the Company; (c) the fact that the services rendered
                            by you on behalf of the Company are specialized,
                            unique and extraordinary; (d) the fact that the
                            Company directly competes within North America in
                            the sale, production and development of products,
                            materials and processes; and (e) the good and
                            valuable consideration provided to you by the
                            Company.

                     (viii) During the term of your employment with the Company
                            and for a period of 30 months after your termination
                            of employment with the Company for any reason, you
                            shall not employ, hire, solicit, induce, or attempt
                            to employ, hire, solicit, or induce for employment,
                            directly or indirectly any employee(s) of the
                            Company to leave his or her employment and become an
                            employee, consultant or representative of

<PAGE>   4
                            any other entity, including but not limited to you
                            or your new employer, if any.

                       (ix) The covenant not to compete set forth herein is of a
                            special, unique, extraordinary and intellectual
                            character, which gives the Company a peculiar value,
                            the loss of which cannot be reasonably or adequately
                            compensated for in damages in an action at law. A
                            breach by you of the covenant not to compete shall
                            cause the Company great and irreparable injury and
                            damage. Therefore, the Company will be entitled to
                            injunctive relief, specific performance and other
                            equitable relief to prevent your breach of the
                            covenant not to compete. This subsection shall not,
                            however, be construed to constitute a waiver of any
                            of the rights which the Company may have for damages
                            or otherwise.

                       (x)  This covenant not to compete inures to the benefit
                            of the Company and any successors and assigns of the
                            Company.

       To confirm your acceptance of the terms of this letter as a valid
modification to your Agreement, kindly sign and return to the Company the
enclosed copy of this letter.

                                        Sincerely,

                                        SIMPSON INDUSTRIES, INC.

                                        By:
                                           ---------------------------------
                                        Roy E. Parrott, CEO and Chairman

Agreed to this 23rd day of June, 2000

-------------------------------
Vinod M. Khilnani<PAGE>   1

Exhibit 10.29 - Amendment to Letter Agreement with George A. Thomas

JUNE 23, 2000

George A. Thomas
Simpson Industries, Inc.
47603 Halyard Drive
Plymouth, MI  48170-2429

         Re:      Change in Control Agreement Modification

Dear George:

       As you are aware, the Board of Directors of Simpson Industries, Inc. (the
"Company") previously determined that you should be protected in the event of a
Change in Control of the Company, and you received a letter from me dated March
1, 1999 setting forth the terms of compensation that you would receive if your
employment is terminated pursuant to a Change in Control (the "Agreement").
Recently, the Board of Directors reviewed the terms of the Company's Change in
Control provisions, which have been in effect for a long period of time, and
concluded that the individual agreements should be updated to reflect the
current economic environment. For purposes of this letter, "Change in Control"
has the same definition as set forth in Section 3 of your Agreement.

       This letter is intended to constitute an amendment to your Agreement and
describes certain changes in the benefits that will be provided to you if your
employment is terminated pursuant to a Change in Control. Unless specifically
addressed in this letter, the terms in your Agreement will remain unchanged.

       5.     Subsection (iii)(B) of Section 5 - Compensation upon Termination
              or During Disability is amended and restated in its entirety to
              read as follows:

                     (iii) (B) You shall be entitled to receive as severance pay
              (a) a lump sum payment to be made within 30 days of your Date of
              Termination in an amount equal to 30 months of your base monthly
              compensation, as in effect on the Date of Termination, plus the
              average of the actual short-term incentive bonus payments made to
              you during the two years prior to the Date of Termination, divided
              by 12 and multiplied by 30, reduced by applicable income and
              employment tax withholding requirements; (b) full benefits for up
              to 30 months under each employee welfare benefit plan in which you
              were entitled to participate immediately prior to the Date of
              Termination, with the health and dental continuation coverage to
              run concurrently with your COBRA rights; (c) vesting credit up to
              a maximum of 30 months under the Company's Supplemental Executive
              Retirement Plan; and (d) 100% vesting in all

<PAGE>   2

              outstanding stock options that were granted to you prior to the
              Change in Control under any of the Company's stock plans.

       6.     Subsection (iv) of Section 5 - Compensation upon Termination or
              During Disability is amended and restated in its entirety to read
              as follows:

                     (iv) Notwithstanding the foregoing, no benefits shall be
              provided under subsection (iii) to the extent (a) that the
              aggregate present value of any "parachute payments" provided to
              you under this Agreement (determined under Section 280G of the
              Internal Revenue Code of 1986, as amended [the "Code"]), when
              aggregated with parachute payments to you under all other Company
              plans, programs or agreements, exceeds 2.99 times your "base
              amount," as defined under Code Section 280G and the regulations
              thereunder, in which case, the amounts payable under this
              Agreement, when aggregated with your other parachute payments,
              shall be reduced until the present value of your aggregate
              parachute payments does not exceed 2.99 times the base amount; (b)
              they would disqualify an employee benefit plan under the Code; (c)
              they would cause an employee benefit plan to violate the Employee
              Retirement Income Security Act of 1974, as amended ("ERISA"); or
              (d) they would be denied by the insurance carrier that provides
              such coverage to the Company. Health and dental benefits shall
              cease upon eligibility through another employer's plan.

       3.     Section 10 - Arbitration is amended and restated in its entirety
              to read as follows:

                     10. Arbitration. Any dispute or controversy arising under
              or in connection with this Agreement (except as set forth in
              Section 11 below), shall be settled exclusively by arbitration in
              Oakland County, Michigan in accordance with the American
              Arbitration Association's National Rules for the Resolution of
              Employment Disputes. The arbitrator shall not have jurisdiction or
              authority to change, add to or subtract from any of the provisions
              of this Agreement. The parties to this Agreement hereby
              acknowledge that with arbitration as the exclusive remedy with
              respect to any grievance hereunder (except as set forth in Section
              11 below), neither party has the right to resort to any Federal,
              state or local court or administrative agency concerning breaches
              of this Agreement (except as set forth in Section 11 below), and
              that the decision of the arbitrator shall be a complete defense to
              any suit, action or proceeding instituted in any Federal, state or
              local court or before any administrative agency with respect to
              any dispute which is arbitrable as set forth herein. The decision
              of the arbitrator shall be final and enforceable in any court of
              competent jurisdiction.

       4.     Section 11 - Covenant Not to Compete shall be added to the
       Agreement to read as follows:
<PAGE>   3

              11. Covenant Not to Compete.

                     (xi)   During the term of your employment with the Company
                            and for a period of 30 months after your termination
                            of employment with the Company for any reason, or
                            for such shorter period as the Company may agree in
                            writing, you shall not directly or indirectly engage
                            in any activity, whether on your own behalf or as an
                            employee, consultant or independent contractor of
                            any other person or entity which competes with the
                            Company within North America for the development,
                            production or sale of any product, material or
                            process to be sold, produced or used by the Company
                            during the course of your employment with the
                            Company, including any product, material or process
                            which may be under development by the Company during
                            the course of your employment with the Company and
                            of which you have, or hereafter may gain, knowledge.

                     (xii)  You agree that the covenant not to compete set forth
                            above shall not impose undue hardship on you and is
                            reasonable in both geographic scope and duration in
                            view of: (a) the Company's legitimate interest in
                            protecting proprietary information, the disclosure
                            of which to the Company's competitors would
                            substantially and unfairly impair the Company's
                            ability to compete in the marketplace or
                            substantially and unfairly benefit the Company's
                            competitors; (b) the specialized training and
                            experience that continues to be provided to you by
                            the Company in the course of your employment with
                            the Company; (c) the fact that the services rendered
                            by you on behalf of the Company are specialized,
                            unique and extraordinary; (d) the fact that the
                            Company directly competes within North America in
                            the sale, production and development of products,
                            materials and processes; and (e) the good and
                            valuable consideration provided to you by the
                            Company.

                     (xiii) During the term of your employment with the Company
                            and for a period of 30 months after your termination
                            of employment with the Company for any reason, you
                            shall not employ, hire, solicit, induce, or attempt
                            to employ, hire, solicit, or induce for employment,
                            directly or indirectly any employee(s) of the
                            Company to leave his or her employment and become an
                            employee, consultant or representative of

<PAGE>   4

                            any other entity, including but not limited to you
                            or your new employer, if any.

                     (xiv)  The covenant not to compete set forth herein is of a
                            special, unique, extraordinary and intellectual
                            character, which gives the Company a peculiar value,
                            the loss of which cannot be reasonably or adequately
                            compensated for in damages in an action at law. A
                            breach by you of the covenant not to compete shall
                            cause the Company great and irreparable injury and
                            damage. Therefore, the Company will be entitled to
                            injunctive relief, specific performance and other
                            equitable relief to prevent your breach of the
                            covenant not to compete. This subsection shall not,
                            however, be construed to constitute a waiver of any
                            of the rights which the Company may have for damages
                            or otherwise.

                     (xv)   This covenant not to compete inures to the benefit
                            of the Company and any successors and assigns of the
                            Company.

       To confirm your acceptance of the terms of this letter as a valid
modification to your Agreement, kindly sign and return to the Company the
enclosed copy of this letter.

                                         Sincerely,

                                         SIMPSON INDUSTRIES, INC.

                                         By:
                                            ----------------------------------
                                         Roy E. Parrott, CEO and Chairman

Agreed to this 23rd day of June, 2000

-------------------------------
George A. Thomas

<PAGE>   5

Exhibit (11) - Computation of Earnings Per Share
<TABLE>
<CAPTION>
                                                         Three Months Ended                     Six Months Ended
                                                               June 30                               June 30
                                                       2000               1999               2000               1999
                                                   -----------        -----------        -----------        -----------
<S>                                                <C>                <C>                <C>                <C>
Basic:

Average shares
  outstanding                                       17,874,374         18,065,871         17,890,228         18,105,252
                                                   ===========        ===========        ===========        ===========

Net earnings applicable
  to common stock and
  common stock
  equivalents                                      $ 6,347,000        $ 6,963,000        $12,494,000        $12,692,000
                                                   ===========        ===========        ===========        ===========

Basic earnings per share                                 $0.36              $0.39              $0.70              $0.70
                                                         =====              =====              =====              =====

Diluted:
  Average shares
  outstanding                                       17,874,374         18,065,871         17,890,228         18,105,252

Net effect of dilutive
  stock options based on
  treasury stock method
  using the average
  market price to
  common stock and
  common stock
  equivalents                                              136             32,267             17,499             24,422
                                                   -----------        -----------        -----------        -----------

Average number of common
  shares and common
  equivalent shares                                 17,874,510         18,098,138         17,907,727         18,129,674
                                                   ===========        ===========        ===========        ===========

Net earnings applicable
  to common stock and
  common stock
  equivalents                                      $ 6,347,000        $ 6,963,000        $12,494,000        $12,692,000
                                                   ===========        ===========        ===========        ===========

Diluted earnings
  per share                                              $0.36              $0.38              $0.70              $0.70
                                                         =====              =====              =====              =====

</TABLE>

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