Second Amendment to Purchase Agreement between Matsushita Kotobuki Electronics Industries, Ltd. and Maxtor Corporation

Summary

This amendment extends the existing Purchase Agreement between Matsushita Kotobuki Electronics Industries, Ltd. (MKE) and Maxtor Corporation. The agreement, originally set to expire on November 2, 2002, is now extended to March 31, 2004, unless renewed again by both parties. All other terms of the original agreement remain unchanged except as modified by this amendment. The amendment is effective retroactively from November 2, 2002, and is signed by authorized representatives of both companies.

EX-10.77 10 f88421exv10w77.txt EXHIBIT 10.77 Exhibit 10.77 SECOND AMENDMENT TO PURCHASE AGREEMENT BETWEEN MATSUSHITA KOTOBUKI ELECTRONICS INDUSTRIES, LTD. AND MAXTOR CORPORATION DATED APRIL 2, 2001 This Second Amendment ("Second Amendment") to Purchase Agreement between Matsushita Kotobuki Electronics Industries, Ltd., a Japanese corporation, having its principal place of business at 2131-1 Minamigata, Kawauchi-Cho, Onsen-Gun, Ehime ###-###-#### Japan ("MKE") and Maxtor Corporation, a Delaware corporation, having its principal place of business at 500 McCarthy Boulevard, Milpitas, California 95035 ("Maxtor") dated April 2, 2001 ("Purchase Agreement") is entered into by and between MKE and Maxtor. WHEREAS, the Purchase Agreement between MKE and Maxtor is due to terminate on November 2, 2001 unless otherwise renewed by the parties. WHEREAS, the parties executed the First Amendment to the Purchase Agreement effective November 2, 2001 to extend the term of the Purchase Agreement for another one year period such that the Purchase Agreement will terminate, unless otherwise renewed by the parties, on November 2, 2002. WHEREAS, MKE and Maxtor are desirous of continuing their business relationship contemplated in the Purchase Agreement. NOW, THEREFORE, the parties hereto agree as follows: 1. The term of the Purchase Agreement shall be further extended such that the Purchase Agreement will terminate, unless otherwise renewed by the parties, on March 31, 2004. 2. All of the terms of the Purchase Agreement shall continue to apply to the transactions between MKE and Maxtor except for those terms which are amended by this Second Amendment. 3. This Second Amendment shall be effective as of November 2, 2002 retroactively. MATSUSHITA KOTOBUKI ELECTRONICS INDUSTRIES, LTD. MAXTOR CORPORATION By: /s/ Takao Kanamura By: /s/ Paul Tufano --------------------------- --------------------------- Takao Kanamura Paul Tufano Title: Senior Managing Director Title: President and Chief Executive Officer Date: February 5, 2003 Date: February 5, 2003 ------------------------- -------------------------