Document:

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Exhibit 10.10 - Amendment to Letter Agreement with Roy E. Parrot

JUNE 23, 2000

Roy E. Parrott
Simpson Industries, Inc.
47603 Halyard Drive
Plymouth, MI  48170-2429

         Re:      Change in Control Agreement Modification

Dear Mr. Parrott:

      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 12, 1989 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.

      1.    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 36 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 36, reduced by applicable income and
            employment tax withholding requirements; (b) full benefits for up to
            36 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 for up to 36
            months under the Company's Supplemental Executive Retirement Plan;
            and (d) 100% vesting in all outstanding stock options that were
            granted to you prior to the Change in Control under any of the
            Company's stock plans.

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      2.    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 that they would (a)
            disqualify an employee benefit plan under the Internal Revenue Code
            of 1986, as amended (the "Code"); (b) cause an employee benefit plan
            to violate the Employee Retirement Income Security Act of 1974, as
            amended ("ERISA"); or (c) 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.    Subsection (v) shall be added to Section 5 - Compensation upon
            Termination or During Disability to read as follows:

                  (v) Payments under this Agreement, when aggregated with any
            other "golden parachute" amounts (defined under Section 280G of the
            Code as compensation that becomes payable or accelerated due to a
            Change in Control) payable under this Agreement or any other plans,
            agreements or policies of the Company, shall not be subject to the
            golden parachute caps under Sections 280G and 4999 of the Code. To
            the extent that the amount of aggregate parachute payments provided
            to you by the Company or the Company's employee benefits plans
            equals or exceeds the golden parachute cap set forth in Code
            Sections 280G and 4999, the Company shall pay you the additional
            compensation as is necessary (after taking into account all Federal,
            state and local income taxes payable by you as a result of the
            receipt of such compensation) to place you in the same after-tax
            position as you would have been in had no such excise tax (or any
            interest or penalties thereon) been paid or incurred. The Company
            shall pay such additional compensation at the time when the Company
            withholds such excise tax from any payments to you. The calculation
            of the tax gross-up shall be approved by the independent certified
            public accounting firm that was used by the Company immediately
            prior to the Change in Control.

      4.    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

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            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.

      5.    Section 11 - Covenant Not to Compete shall be added to the Agreement
            to read as follows:

            11. Covenant Not to Compete.

                  (i)   During the term of your employment with the Company and
                        for a period of 36 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.

                  (ii)  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

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                        processes; and (e) the good and valuable consideration
                        provided to you by the Company.

                  (iii) During the term of your employment with the Company and
                        for a period of 36 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 any other entity, including but not
                        limited to you or your new employer, if any.

                  (iv)  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.

                  (v)   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:
                             ---------------------------------------
                          F. Lee Weaver, Chair, Compensation Committee

Agreed to this 23rd day of June, 2000

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Roy E. Parrott<PAGE>   1

Exhibit 10.25 - Third Amendment to Credit Agreement

THIRD AMENDMENT TO CREDIT AGREEMENT (364 DAY)

      THIS THIRD AMENDMENT TO CREDIT AGREEMENT (364 Day), dated as of June 14,
2000 (this "Amendment"), amends the Credit Agreement (364 Day), dated as of June
17, 1997 (the "Credit Agreement"), among SIMPSON INDUSTRIES, INC., a Michigan
corporation ("Simpson"), certain subsidiaries of Simpson (together with Simpson,
the "Borrowers"), the various financial institutions parties thereto
(collectively, the "Lenders") and ABN AMRO BANK N.V, as agent (the "Agent") for
the Lenders. Terms defined in the Credit Agreement are, unless otherwise defined
herein or the context otherwise requires, used herein as defined therein.

      WHEREAS, the parties hereto have entered into the Credit Agreement, which
provides for the Lenders to extend certain credit facilities to the Borrowers
from time to time;

      WHEREAS, the parties amended the Credit Agreement (the "First Amendment")
in certain respects on June 16, 1998, and again on June 15, 1999 (the "Second
Amendment"); and

      WHEREAS, the parties hereto desire to amend the Credit Agreement again in
certain respects as hereinafter set forth;

      NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties hereto agree as follows:

            1.   SECTION  AMENDMENT. Effective as of June 14, 2000, Section 1.1
                          of the Credit Agreement is hereby amended by the
                          deletion of the date "June 14, 2000" in the definition
                          of "Stated Maturity Date" (amended to read as such by
                          the Second Amendment) and the substitution therefor of
                          the date "June 13, 2001."

            2.   SECTION  CONDITIONS PRECEDENT. This Amendment shall become
                          effective when each of the conditions precedent set
                          forth in this Section 2 shall have been satisfied, and
                          notice thereof shall have been given by the Agent to
                          Simpson and the Lenders.

            2.1. SECTION  Receipt of Documents. The Agent shall have received
                          all of the following documents duly executed, dated
                          the date hereof or such other date as shall be
                          acceptable to the Agent, and in form and substance
                          satisfactory to the Agent:
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      (a) Amendment. This Amendment, duly executed by Simpson, the Agent and the
      Lenders.

      (b) Secretary's Certificate. A certificate of the secretary or an
      assistant secretary of Simpson, as to (i) resolutions of the Board of
      Directors of Simpson then in full force and effect authorizing the
      execution, delivery and performance of this Amendment and each other
      document described herein, and (ii) the incumbency and signatures of those
      officers of Simpson authorized to act with respect to this Amendment and
      each other document described herein.

            2.2. SECTION  Compliance with Warranties, No Default, etc. Both
                          before and after giving effect to the effectiveness of
                          this Amendment, the following statements by Simpson
                          shall be true and correct (and Simpson, by its
                          execution of this Amendment, hereby represents and
                          warrants to the Agent and each Lender that such
                          statements are true and correct as at such times):

      (a) the representations and warranties set forth in Article VII of the
      Credit Agreement shall be true and correct with the same effect as if then
      made (unless stated to relate solely to an earlier date, in which case
      such representations and warranties shall be true and correct as of such
      earlier date); and

      (b) no Default shall have then occurred and be continuing.

            3.   SECTION  REPRESENTATIONS AND WARRANTIES. To induce the Lenders
                          and the Agent to enter into this Amendment, Simpson
                          hereby represents and warrants to the Agent and each
                          Lender as follows:

            3.1. SECTION  Due Authorization, Non-Contravention, etc. The
                          execution, delivery and performance by Simpson of this
                          Amendment are within Simpson's corporate powers, have
                          been duly authorized by all necessary corporate
                          action, and do not

      (a) contravene Simpson's Organic Documents;

      (b) contravene any contractual restriction, law or governmental regulation
      or court decree or order binding on or affecting Simpson; or

      (c) result in, or require the creation or imposition of, any Lien on any
      of Simpson's properties.
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            3.2. SECTION  Government Approval, Regulation, etc. No authorization
                          or approval or other action by, and no notice to or
                          filing with, any governmental authority or regulatory
                          body or other Person is required for the due
                          execution, delivery or performance by Simpson of this
                          Amendment.

            3.3. SECTION  Validity, etc. This Amendment constitutes the legal,
                          valid and binding obligation of Simpson enforceable in
                          accordance with its terms.

            4.   SECTION MISCELLANEOUS.

            4.1. SECTION  Continuing Effectiveness, etc. This Amendment shall be
                          deemed to be an amendment to the Credit Agreement, and
                          the Credit Agreement, as amended hereby, shall remain
                          in full force and effect and is hereby ratified,
                          approved and confirmed in each and every respect.
                          After the effectiveness of this Amendment in
                          accordance with its terms, all references to the
                          Credit Agreement in the Loan Documents or in any other
                          document, instrument, agreement or writing shall be
                          deemed to refer to the Credit Agreement as amended
                          hereby.

            4.2. SECTION  Payment of Costs and Expenses. Simpson agrees to pay
                          on demand all expenses of the Agent (including the
                          fees and out-of-pocket expenses of counsel to the
                          Agent) in connection with the negotiation,
                          preparation, execution and delivery of this Amendment.

            4.3. SECTION  Severability. Any provision of this Amendment which is
                          prohibited or unenforceable in any jurisdiction shall,
                          as to such provision and such jurisdiction, be
                          ineffective to the extent of such prohibition or
                          unenforceability without invalidating the remaining
                          provisions of this Amendment or affecting the validity
                          or enforceability of such provision in any other
                          jurisdiction.

            4.4. SECTION  Headings. The various headings of this Amendment are
                          inserted for convenience only and shall not affect the

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                          meaning or interpretation of this Amendment or any
                          provisions hereof.

            4.5. SECTION  Execution in Counterparts. This Amendment may be
                          executed by the parties hereto in several
                          counterparts, each of which shall be deemed to be an
                          original and all of which shall constitute together
                          but one and the same agreement.

            4.6. SECTION  Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A
                          CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS
                          OF THE STATE OF ILLINOIS.

            4.7. SECTION  Successors and Assigns. This Amendment shall be
                          binding upon and shall inure to the benefit of the
                          parties hereto and their respective successors and
                          assigns.

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      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                 SIMPSON INDUSTRIES, INC.

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

                                 ABN AMRO BANK N.V., individually
                                 and as Agent

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

                                 COMERICA BANK, individually and as
                                 Documentation Agent

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

                                 HARRIS TRUST AND SAVINGS
                                 BANK as a Lender,

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

                                 THE BANK OF NEW YORK as a
                                 Lender,

                                 By
                                   ---------------------------------------------
                                 Title:
                                       -----------------------------------------

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