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EXHIBIT 10.52
SECOND ADDENDUM
TO JOINT VENTURE AGREEMENT
This Second Addendum ("Addendum") dated as of September 29, 1996 is by
and between Read-Rite Corporation, a Delaware corporation ("Read-Rite"), and
Sumitomo Metal Industries, Ltd., a Japanese corporation ("SMI"), amends that
certain Joint Venture Agreement dated as of June 14, 1991 by and between
Read-Rite and SMI (the "Agreement"), and supersedes that certain First Addendum
to the Agreement dated as of December 14, 1993 between Read-Rite and SMI ("First
Addendum"). Capitalized terms not otherwise defined herein shall have the
meanings assigned thereto in the Agreement.
R E C I T A L S
WHEREAS, pursuant to the Agreement, Read-Rite and SMI have formed a
joint venture in Japan, Read-Rite SMI Kabushiki Kaisha, a Japan corporation (the
"Company"); and
WHEREAS, Read-Rite and SMI wish to further expand the business purposes
of the Company beyond those contemplated in the Agreement and the First Addendum
to include certain additional technologies which Read-Rite and SMI believe will
provide the Company an opportunity to promote and expand its thin film head
business in the future, thereby serving the interests of both parties as joint
venturers.
A G R E E M E N T
1. Amendment of Business Purposes. Section 1.3 (a) of the Agreement
shall be amended in its entirety to read as follows:
"(a) To design, develop and manufacture (i) inductive read, inductive
write thin film heads for use in rigid magnetic disk Winchester disk drives,
(ii) magnetoresistive read, inductive write thin film recording heads for use in
Winchester rigid disk drives, (iii) planar recording heads for use in Winchester
rigid disk drives, (iv) spin valve recording heads for use in Winchester rigid
disk drives, and (v) giant magnetoresistive recording heads for use in
Winchester rigid disk drives (hereinafter, collectively, the "Products"), in
Japan and to sell such Products in Japan for integration into such disk drives
in Japan, and to certain Japanese customers outside of North America for
integration by the Japanese customers outside North America, all as provided in
this Agreement and the Ancillary Agreements;"
2. Affirmation. Except as modified by this Addendum, the Agreement
shall remain unmodified and in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
signed by duly authorized officers or representatives as of the date first
written above.
READ-RITE CORPORATION SUMITOMO METAL INDUSTRIES, LTD.
By: ________________________ By: ________________________________
Name: ______________________ Name: ______________________________
Title: _____________________ Title: _____________________________
