Document:

EXHIBIT 10.104

July 27, 1999

Edmund J. Schwartz
8410 Lazy Oaks Court
Dunwoody, GA  30350

Re:      Position with Lund International Holdings, Inc.

Dear Mr. Schwartz:

         As per our recent discussions, Lund International Holdings, Inc.
("LIH") is interested in offering you the position of Chief Financial Officer of
Lund International Holdings, Inc. This correspondence sets out the terms of our
offer to you. Also, the terms of any employee handbook for Lund International
Holdings, Inc. ("LIH"), LIH's Insider Trading Policy and Insider Trading
Compliance Program, which reflect the current policies and procedures of LIH
apply to you, and are all subject to change. You will shortly receive a copy of
the Insider Trading Policy, and Insider Trading Compliance Program, which
reflect the current Securities and Exchange statutory and regulatory dictates
for employees who work for publicly traded companies.

         Please sign the letter at the bottom if the terms offered in this
letter are acceptable to you. We hope that you will accept our offer of
employment in the position of Chief Financial Officer of Lund International
Holdings, Inc.

POSITION: Chief Financial Officer of Lund International Holdings, Inc. LIH and
its subsidiaries and their subsidiaries reserve the right to modify your job
responsibilities and its reporting and organizational structure at its
discretion.

BASE SALARY: $160,000 on an annual basis subject to adjustment, if any, at LIH's
sole discretion on a yearly basis after any performance review. The first
performance review that relates to any potential base salary adjustment will be
twelve (12) months after your official date of hire.

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July 27, 1999
E. Schwartz
Page 2

BONUS: You will be eligible for any bonus plan offered by the LIH, subject to
its terms and conditions. For calendar year 1999, you will be eligible to
participate in LIH's Results Sharing Plan, on a pro rata basis, but in no case
will your bonus be less than Twenty-Five Thousand Dollars ($25,000.00) for 1999.
In addition, it may be greater than Twenty-Five Thousand Dollars ($25,000.00) if
you actually earn more than this amount under the formula as set forth in the
LIH's Results Sharing Plan for 1999. Payment for any pro rata 1999 bonus to you
will be sometime within the first quarter of calendar year 2000. However, Lund
International Holdings, Inc. reserves the right to change the bonus plan at the
end of any plan year as applied to the following or next plan year, including
but not limited to the year 2000. Also, each bonus plan will be evaluated for
any particular year, and it is understood that future bonus plans, are
discretionary, have not been adopted and have yet to be determined or approved
by the Board of Directors, and are subject to LIH's interpretation.

BENEFITS: You are entitled to all current benefits, according to their terms and
conditions, that are offered to other senior management members in an equivalent
position with LIH. You are also eligible for Exec-u-care benefits. LIH and its
subsidiaries reserve the right to change its benefits package and plans.

STOCK OPTION PLAN: You are eligible for Seventy Thousand (70,000) stock options
of Lund International Holdings, Inc. The Seventy Thousand (70,000) stock options
vest on a vesting schedule and you must be employed on each successive
anniversary date of your first day of employment with no break in service for
the stock options to vest. On that schedule, Fourteen Thousand (14,000) will
vest one (1) year from your anniversary date of employment and Fourteen Thousand
(14,000) will vest on your successive anniversary dates thereafter, until all
Seventy Thousand (70,000) stock options have vested. This vesting schedule would
be accelerated in the event of a "Change of Control", as defined and set forth
in the stock option plan. All of these stock options, are subject to, and will
be issued according to, our stock option plan and may require Board and/or
stockholder approval.

VACATIONS: You will be eligible for a three (3) week paid vacation, accruing
according LIH's current vacation policies, which are subject to change.

         In the position of Chief Financial Officer of Lund International
Holdings, Inc., you will be provided with confidential, trade secret, and/or
proprietary information of Lund International Holdings, Inc., and all of its
subsidiaries and their subsidiaries, whether actually merged or not, and/or any
company to be acquired by Lund International Holdings, Inc. or its subsidiaries,
or any restructured entities, (collectively referred to in this letter as the
"Company"). This includes, but is not limited to, the following confidential,
trade secret and/or proprietary information:

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July 27, 1999
E. Schwartz
Page 3

         1.       Sales activities, sales records, sales histories and/or how
                  sales have developed or changed in a particular geographical
                  area or market or for a particular product; customer lists
                  and/or vendor lists; and

         2.       The quantity of products purchased from the Company by its
                  customers and the prices paid, the Company's purchasing
                  activities, advertising and promotional activities, past and
                  present, potential sales and/or markets, market strategies;
                  and

         3.       Products' specifications, materials, costs; development of new
                  products; inventions, modifications of current products, and
                  information pertaining to all aspects of the Company's
                  research and development; and

         4.       The quantity of various products purchased from the Company
                  and/or the product mix as they relate to overall sales of all
                  products and/or a particular product; and

         5.       The reasons for the use by the Company of certain methods of
                  attachment of its products to the vehicles; manufacturing
                  processes and/or costs and/or time and/or labor studies; the
                  products' designs, dimensions, and tolerances; and

         6.       The quantity of materials purchased from suppliers and/or the
                  reason for the use of certain materials; and

         7.       Shipping methods, pricing, profit margins per product or
                  product lines, labor costs, cost of goods sold, and other
                  internal non-public financial data; and

         8.       Other financial information which is not made public in the
                  Company's press releases, quarterly reports, Securities and
                  Exchange Filings and/or the Company's annual reports; and

         9.       Information concerning the Company's management, financial
                  conditions, financial operations, purchasing activities,
                  marketing plans, strategic plans, information systems,
                  communication systems, planning activities, acquisition
                  activities, operational activities and plans, investor
                  relations activities, interdepartmental communication or
                  operational communication activities and business or strategic
                  or consolidation plans, e-commerce plans; and

                                       3
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July 27, 1999
E. Schwartz
Page 4

         10.      All other types and categories of information which are
                  generally understood by persons involved in the automotive
                  industry, aftermarket automotive industry, and any
                  manufacturing operations to be trade secrets, and/or
                  confidential information and/or proprietary information.

         You agree that you will not disclose or use at any time (as limited by
applicable law) in any manner, either during your employment or after your
employment, any confidential trade secret and/or proprietary information as
defined in this letter, or elsewhere, or subsequently revealed to you to be
confidential, a trade secret or proprietary information.

         You agree in the event your employment with LIH is terminated, whether
voluntarily or otherwise, and/or you are separated from your employment with
LIH, that you, for a period of twelve (12) months from the date of separation of
your employment, shall not, either directly or indirectly, provide services to
or engage in or participate in any activities (whether as an employee, greater
than 5% shareholder, investor, owner, officer, director, partner, consultant,
advisor, principal, agent, or in any other capacity) in any business which
engages in the invention, design, development, marketing, and/or selling, and/or
distributing, and/or manufacturing of products competitive with those which are
then listed in the Company's current catalogs or marketing materials, and/or
such products which the Company has, in the preceding one (1) year before your
separation, or at your separation from employment, under design, development,
modification, alteration, or purchase from another company, or for which
conception has occurred.

         You further agree that you will not, for a period of twelve (12) months
from the date of your separation of employment with LIH, whether voluntarily or
otherwise, engage in or participate in, in any capacity, either directly or
indirectly, the solicitation of or the attempt to solicit or divert or the
attempt to divert from the Company any potential or actual product designer,
supplier, customer, and/or distributor, and/or manufacturer of the Company's
that you have had contact with for the two (2) years preceding your separation
from employment. This restriction encompasses any business which engages in any
or all of the following activities: the invention, design, development,
marketing, and/or selling, and/or distributing, and/or manufacturing of products
competitive with those which are then listed in the Company's current catalogs
or marketing materials, which also includes such products that the Company has,
in the preceding one (1) year before your separation, or at your separation from
employment, under design, development, modification, alteration, or purchase
from another company, or for which conception has occurred.

                                       4
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July 27, 1999
E. Schwartz
Page 5

         You also agree that for a period of twelve (12) months from your
separation from employment with LIH, whether voluntarily or otherwise, that you
will not, directly or indirectly, hire or offer to hire any of the Company's
directors, officers, employees, and/or agents, or attempt to and/or entice them
to discontinue their relationship with the Company, and/or directly or
indirectly attempt to divert and/or divert any potential or actual product
designer, customer, distributor, manufacturer, and/or supplier of the Company's
that you have had contact with for the two (2) years preceding your separation
from employment from continuing to do business with or provide services to the
Company.

         Your obligations under this covenant not to compete shall apply to any
geographical area in which the Company has engaged in business before and during
your employment through production, operations, promotional, sales,
distribution, or marketing activities, or has otherwise established its good
will, business reputation, or any potential or actual product designer, or
customer, or supplier, or distributor or manufacturing relations during the two
(2) years preceding your separation from employment.

         These confidentiality and non-compete terms of this agreement extend
beyond the termination and/or separation of your employment and shall continue
in full force and effect after the termination and/or separation of your
employment or this agreement. You agree to always keep confidential and to not
use any trade secret and/or proprietary information, as limited by applicable
law.

         You agree that at the time of your termination and/or separation of
employment at LIH, that you will promptly deliver to the Company all
confidential, trade secret, or proprietary information and all Company property,
equipment and materials. You agree that the Company may seek injunctive relief
to enforce the non-competition, confidentiality and Company property provisions
of this letter agreement. You and the Company agree that in the event the
Company seeks injunctive relief to enforce the provisions of the letter
agreement, the party that ultimately prevails, after all appeals have been
exhausted or the time for appeal has run, shall be awarded its or his reasonable
attorneys fees and costs for such injunctive relief proceeding. This agreement
on the allocation of reasonable attorneys fees and costs related to an
injunctive relief proceeding does not limit or restrict either parties' rights
or other remedies, either in law or in equity, arising out of the employment
relationship and for those claims, each party shall bear its own attorneys' fees
and costs.

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July 27, 1999
E. Schwartz
Page 6

         This agreement refers to Lund International Holdings, Inc. and its
subsidiaries and their subsidiaries, and any restructured entities or
acquisitions, because you will be privy to all operations of Lund International
Holdings, Inc. and its subsidiaries', any restructured entities' or acquired
entities' confidential information, operations and trade secret or proprietary
information.

         If you accept the position of Chief Financial Officer of Lund
International Holdings, Inc. offered in this letter agreement, you understand
that your employment is for an indefinite duration, and that either you or LIH
may terminate the employment relationship at any time for any reason or no
reason and without just cause or cause. This agreement is not to be interpreted
as an agreement for continued employment or employment for a specific time
period or for any particular time period because either party may terminate it
at any time for any reason or no reason and your employment is "at will".
Further, you agree that this letter agreement, and the employment relationship
do not contain or have any covenant of good faith and fair dealing, either
expressed or implied.

         It is LIH's understanding that you are not subject to any agreements or
restrictions arising out of any prior employment or consulting relationship, and
that by accepting this offer of the position of Chief Financial Officer, you
will not be breaching or violating any other obligations. If any breach of a
prior obligation occurs, LIH reserves the absolute right to immediately
terminate your employment.

         This agreement may be severed, if any portion is determined to be
unenforceable or void, with the other terms remaining in full force and effect.
Also, this agreement, where not pre-empted by federal law, will be interpreted
under the laws of the State of Minnesota and the United States of America, and
is binding on the parties, their heirs, successors, personal representative and
assigns.

         This letter agreement supersedes, revokes, or voids all other offers,
or agreements, oral or written made by Lund International Holdings, Inc.,
regarding any position with Lund International Holdings, Inc., or any position
with any of its subsidiaries.

                                       6
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July 27, 1999
E. Schwartz
Page 7

         Please accept our offer as set out in this letter agreement by
executing this letter agreement at the bottom. Thank you for your time and
interest in becoming the Chief Financial Officer of Lund International Holdings,
Inc. Please feel free to call me at your convenience if you have any questions.
I look forward to your response in the very near future.

Sincerely,

/s/ J. Timothy Yungers

J. Timothy Yungers
Vice President of Human Resources for Lund International
  Holdings, Inc.,

Accepted by:  /s/ Edmund J. Schwartz
              ----------------------
                Edmund J. Schwartz

Dated:          _____________________________

                                       7EXHIBIT 10.105

                                                                  EXECUTION COPY

          WAIVER AND FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENTS

Reference is made to the Securities Purchase Agreements dated as of December 23,
1998 (the "SPA") between the Companies (the "Companies"), and Massachusetts
Mutual Life Insurance Company, MassMutual Corporate Investors, MassMutual
Participation Investors, MassMutual Corporate Value Partners Limited, National
City Venture Corporation, and Great Lakes Capital Investments I L.L.C.
(together, the "Holders").

WHEREAS, Events of Default exist under the Sections 14.7(a)(ii) and 14.7(b)(ii)
of the SPA; and

WHEREAS, the Companies and the Holders are desirous of waiving the existing
Events of Default and amending the SPA on the terms and conditions set forth
below.

NOW THEREFORE, in consideration of the mutual conditions and agreements set
forth in the SPA and herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Companies and the
Holders agree as follows:

1.       Section 14.7(a)(ii) of the SPA is amended by replacing the dollar
         limits for the four consecutive fiscal quarter periods ending,
         respectively, on March 31, 2000, June 30, 2000, September 30, 2000, and
         December 31, 2000 with the minimum amount figures set forth below:

                         ---------------------------------- --------------------
                         Period of Four Consecutive
                         Fiscal Quarters Ending             Minimum Amount
                         ---------------------------------- --------------------
                         March 31, 2000                     $18,270,000
                         ---------------------------------- --------------------
                         June 30, 2000                      $18,990,000
                         ---------------------------------- --------------------
                         September 30, 2000                 $20,250,000
                         ---------------------------------- --------------------
                         December 31, 2000                  $23,670,000
                         ---------------------------------- --------------------

2.       Section 14.7(b)(ii) of the SPA is amended by replacing the minimum
         ratios for the four consecutive fiscal quarter periods ending,
         respectively, on March 31, 2000, June 30, 2000, September 30, 2000, and
         December 31, 2000 with the minimum ratios set forth below:

                         ---------------------------------- --------------------
                         Period of Four Consecutive
                         Fiscal Quarters Ending             Minimum Ratio
                         ---------------------------------- --------------------
                         March 31, 2000                     0.90 to 1.00
                         ---------------------------------- --------------------
                         June 30, 2000                      1.00 to 1.00
                         ---------------------------------- --------------------
                         September 30, 2000                 1.10 to 1.00
                         ---------------------------------- --------------------
                         December 31, 2000                  1.55 to 1.00
                         ---------------------------------- --------------------

                                       1
<PAGE>

3.       The definition of "Consolidated EBITDA" in Section 15.1 of the SPA is
         amended by inserting, immediately prior to the period at the end of the
         defined term that includes the definition of "Consolidated EBITDA" the
         following:
                  "provided further, that in determining Consolidated EBITDA,
                  the Companies will be permitted to add back during the
                  'Permitted Testing Periods' (as defined below), the
                  'Restructuring Charges' as defined on the attached Schedule
                  II, up to an aggregate amount of $4,100,000 for costs incurred
                  from the period beginning January 1, 2000 through December 31,
                  2001. The term `Permitted Testing Periods' shall mean the four
                  fiscal quarters of the Companies beginning with and including
                  the fiscal quarter in which the actual Restructuring Charge is
                  incurred and ending with and including the next three fiscal
                  quarters thereafter."

4.       The Events of Default currently existing under Section 14.7(a)(ii) and
         Section 14.7(b)(ii) of the SPA are hereby waived.

5.       The effectiveness of this Waiver and First Amendment is expressly
         subject to the following conditions:

         (a)      The Companies shall have executed and delivered this Waiver
                  and First Amendment to the Holders;

         (b)      All proceedings taken in connection with the transactions
                  contemplated by this Waiver and First Amendment and all
                  documents, instruments and other legal matters incident
                  thereto shall be satisfactory to the Holders;

         (c)      No Default or Event of Default other than the Events of
                  Default waived hereby shall have occurred and be continuing;

         (d)      The accuracy of the representations and warranties set forth
                  in Section 7 below;

         (e)      The Companies shall have paid an amendment fee in the amount
                  of $50,000, such fee to be paid pro rata to the Holders; and

         (f)      The Senior Loan Agreement shall have been amended in a manner
                  satisfactory to the Holders.

6.       The capitalized terms used herein shall have the respective meanings
         specified in the SPA unless otherwise defined herein or if the context
         shall otherwise require.

                                       2
<PAGE>

7.       To induce the Holders to enter into this Waiver and First Amendment,
         the Companies represent and warrant to the Holders that the execution,
         delivery, and performance of this Waiver and First Amendment has been
         duly authorized by all requisite corporate action on the part of each
         of the Companies and that this Waiver and First Amendment has been duly
         executed and delivered by the Companies.

8.       Except as expressly modified herein, the terms and conditions of the
         SPA are hereby ratified, confirmed and approved in all respects.

9.       This document shall be dated as of January 28, 2000.

ACCEPTED AND AGREED TO:

MASSACHUSETTS MUTUAL LIFE               MASSMUTUAL CORPORATE VALUE
INSURANCE COMPANY                       PARTNERS LIMITED
By:  David L. Babson and Company        By:  David L. Babson and Company
Incorporated, its Investment Manager    Incorporated, under delegated authority
                                        from Massachusetts Mutual Life Insurance
                                        Company, its Investment Adviser

/s/ Michael L. Klofas                   /s/ Michael L. Klofas
------------------------------------    ----------------------------------------
By:  Michael L. Klofas                  By:  Michael L. Klofas
Its:  Managing Director                 Its:  Managing Director

MASSMUTUAL CORPORATE                    MASSMUTUAL PARTICIPATION
INVESTORS                               INVESTORS

/s/ Michael L. Klofas                   /s/ Michael L. Klofas
------------------------------------    ----------------------------------------
By:  Michael L. Klofas                  By:  Michael L. Klofas
Its:  Managing Director                 Its:  Managing Director

NATIONAL CITY VENTURE                   GREAT LAKES CAPITAL
CORPORATION                             INVESTMENTS I, L.L.C.

/s/ Richard J. Martinko                 /s/ Richard J. Martinko
------------------------------------    ----------------------------------------
By:  Richard J. Martinko                By:  Richard J. Martinko
Its:  Managing Director                 Its:  Member

                                       3
<PAGE>

LUND INDUSTRIAL HOLDINGS, INC.          LUND INDUSTRIES, INCORPORATED

/s/ Edmund J. Schwartz                  /s/ Edmund J. Schwartz
------------------------------------    ----------------------------------------
By:  Edmund J. Schwartz                 By:  Edmund J. Schwartz
Its:  Chief Financial Officer           Its:  Chief Financial Officer

DFM CORP.                               AUTO VENTSHADE COMPANY

/s/ Edmund J. Schwartz                  /s/ Edmund J. Schwartz
------------------------------------    ----------------------------------------
By:  Edmund J. Schwartz                 By:  Edmund J. Schwartz
Its:  Chief Financial Officer           Its:  Chief Financial Officer

DEFLECTA-SHIELD CORPORATION             SMITTYBILT, INC.

/s/ Edmund J. Schwartz                  /s/ Edmund J. Schwartz
------------------------------------    ----------------------------------------
By:  Edmund J. Schwartz                 By:  Edmund J. Schwartz
Its:  Chief Financial Officer           Its:  Chief Financial Officer

BELMORE AUTOTRON CORP.

/s/ Edmund J. Schwartz
------------------------------------
By:  Edmund J. Schwartz
Its:  Chief Financial Officer

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