<PAGE>

                                                                     EXHIBIT 4.1

                            STOCK PURCHASE AGREEMENT

          THIS STOCK PURCHASE AGREEMENT is made as of the 28th day of June 2000,
by and between Read-Rite Corporation (the "Company"), a corporation organized
under the laws of the State of Delaware, with its principal offices at 345 Los
Coches Street, Milpitas California 95035, and the purchaser whose name and
address is set forth on the signature page hereof (the "Purchaser").

          IN CONSIDERATION of the mutual covenants contained in this Agreement,
the Company and the Purchaser agree as follows:

   SECTION 1.  Authorization of Sale of the Shares. Subject to the terms and
conditions of this Agreement, the Company has authorized the sale of up to
4,000,000 shares of common stock (the "Shares"), par value $0.0001 per share
(the "Common Stock"), of the Company.

   SECTION 2.  Agreement to Sell and Purchase the Shares.  At the Closing (as
defined in Section 3), the Company shall sell to the Purchaser, and the
Purchaser shall buy from the Company, upon the terms and conditions hereinafter
set forth, the number of Shares (at the purchase price) shown below:


                                   Price Per
     Number Shares to Be           Share In                      Aggregate
          Purchased                 Dollars                        Price
          ---------                 -------                        -----

          4,000,000                 2.03125                    $8,125,000.00


   SECTION 3.  Delivery of the Shares at the Closing.  (a)  The completion of
the purchase and sale of the portion of the Shares to be purchased by the
Purchaser (the "Closing") shall occur on the date immediately following
execution and delivery of this Agreement at the offices of Wilson Sonsini
Goodrich & Rosati, 650 Page Mill Road, Palo Alto, California 94304-1050, at such
time and date to be agreed upon by the Company and the Purchaser (the "Closing
Date").

               (b)  At the Closing, the Company shall deliver to the Purchaser
two stock certificates registered in the name of the Purchaser, or in such
nominee name(s) as designated by the Purchaser in writing, with one certificate
representing 800,000 Shares and the other certificate representing 3,200,000
Shares. The name(s) in which the stock certificates are to be registered are set
forth in the Stock Certificate Questionnaire attached hereto as part of Appendix
I. Prior to the Purchaser's delivery of payment for the Shares, the Company
shall deliver via facsimile a copy of the stock certificates to be issued to the
Purchaser upon the Closing. The Company's obligation to complete the purchase
and sale of the Shares and deliver such stock certificates to the Purchaser at
the Closing shall be subject to the following conditions: (i) receipt by the
Company of same-day funds in the full amount of the purchase price for the
Shares being purchased hereunder; and (ii) the accuracy of the representations
and warranties made by the Purchaser as if made on the day of such Closing and
the fulfillment of those undertakings of the Purchaser to be fulfilled prior to
the Closing. The Purchaser's obligation to accept delivery of such stock
certificates and to pay for the Shares evidenced thereby shall be subject only
to the following conditions: (A) the accuracy in all material respects of the
representations and warranties made by the Company herein and the fulfillment in
all material respects of those undertakings of the Company to be fulfilled prior
to Closing and (B)
<PAGE>

the delivery by Wilson Sonsini Goodrich & Rosati, counsel to the Company, to the
Purchaser of a legal opinion in substantially the form attached hereto as
Exhibit A.

   SECTION 4.  Representations and Warranties of the Company. The Company
hereby represents and warrants as of the date hereof and as of the Closing to
the Purchaser as follows:

          4.1  Organization and Standing. The Company is a corporation duly
organized and validly existing under the laws of the State of Delaware and is in
good standing under such laws. The Company has all requisite corporate power to
own and operate its properties and assets, and to carry on its business as
presently conducted. The Company is qualified to do business as a foreign
corporation in the State of California. Such qualification is not presently
required in any other jurisdiction where a failure to so qualify would have a
material adverse effect on the business, financial position or results of
operations of the Company ("Material Adverse Effect").

          4.2  Capitalization. The authorized capital stock of the Company
consists of 160,000,000 shares of Common Stock and 4,000,000 shares of Preferred
Stock. Approximately 56,973,159 shares of Common Stock are issued and
outstanding. No shares of Preferred Stock are issued and outstanding. All such
issued and outstanding shares have been duly authorized and validly issued, and
are fully paid and nonassessable. Options to purchase 14,186,658 shares of the
Company's Common Stock are outstanding under the Company's CEO Stock Option
Plan, the Company's 1987 Stock Option Plan, the Company's 1995 Stock Option
Plan, the Company's 1998 Stock Option Plan and the Company's 1991 Director's
Stock Option Plan, and 2,1556,761 shares are available for future grant under
these Plans. The Company has issued 2,348,669 shares of Common Stock under its
Employee Stock Purchase Plan and 1,151,331 shares are available for future
issuance. The Company has issued 991,276 shares of Common Stock under the stock
match provisions of its 401(k) Retirement Savings Plan and 408,724 shares are
available for future issuance. Except as disclosed in the Company SEC Documents
(as defined below), there are no other options, warrants, conversion privileges,
or preemptive or other rights or agreements presently outstanding to purchase or
otherwise acquire any authorized but unissued shares of the capital stock or
other securities of the Company.

          4.3 Authority. The Company has full power and authority to execute and
deliver this Agreement, and to consummate the transactions contemplated by this
Agreement. All corporate action on the part of the Company, its officers,
directors and stockholders necessary for the execution and delivery of, and the
consummation of the transactions contemplated by, this Agreement. This
Agreement, upon execution and delivery by the Company and assuming the due and
proper execution and delivery by the Purchaser, constitutes a legal, valid and
binding obligation of the Company, enforceable in accordance with its respective
terms, except as may be limited by (i) applicable bankruptcy, insolvency,
reorganization or other laws of general application relating to or affecting the
enforcement of creditors rights generally, and (ii) the effect of rules of law
governing the availability of specific performance and other equitable remedies.

          4.4 Valid Issuance of Common Stock. The Common Stock to be sold hereby
has been duly authorized and, when issued, delivered and paid for in the manner
set forth in this Agreement, shall be duly authorized, validly issued, fully
paid and nonassessable, and shall be free of restrictions on transfer other than
restrictions on transfer under this Agreement and under applicable state and
federal securities laws. No preemptive rights, anti-dilution rights or other
rights to subscribe for or purchase exist with respect to the issuance and sale
of the Common Stock by the Company pursuant to this Agreement. No stockholder of
the Company has any right (which has not been waived or has not expired by
reason of lapse of time following the notification of the Company's intent to
file the Registration Statement (as defined below)) to request or require the
Company to register the sale of any shares owned by such

                                      -3-
<PAGE>

stockholder under the Securities Act of 1933, as amended (the "Securities Act"),
in the Registration Statement.

          4.5  Governmental Consents. Other than compliance with the Securities
Act and other state or federal securities laws, and such filings as may be
required to be made under such laws or with the National Association of
Securities Dealers (the "NASD"), which shall be complied with and made at or
prior to the Closing, no consent, approval, order or authorization of, or
registration, qualification, designation, declaration or filing with, any
federal, state or local governmental authority on the part of the Company is
required in connection with the consummation of the transactions contemplated by
this Agreement.

          4.6  Conflicts.  The execution and delivery of this Agreement shall
not conflict with or result in a material breach of the terms, conditions or
provisions of, or constitute a material default under, any material contract,
material covenant or material instrument under which the Company is now
obligated.

          4.7  SEC Documents.  The Company has filed each statement, annual,
quarterly and other report, registration statement and definitive proxy
statement ("Company SEC Documents") required to be filed (other than preliminary
material) by the Company with the SEC.  As of their respective filing dates, the
Company SEC Documents complied in all material respects with the requirements of
the Securities Act or the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), as the case may be, and none of the Company SEC Documents
contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary to make the statements made
therein, in light of the circumstances in which they were made, not misleading,
except to the extent corrected by any subsequently filed Company SEC Document.

          4.8  Changes.  Since March 31, 2000, there has not been any event or
condition that would reasonably likely result in a Material Adverse Effect.

          4.9  Litigation.  Other than as disclosed and discussed in the
Company's annual filings with the SEC, there is no pending or, to the Company's
knowledge, threatened lawsuit, administrative proceeding, arbitration, patent or
licensing challenge or infringement, labor dispute or governmental investigation
to which the Company is a party or by which any material portion of its assets,
taken as a whole, may be bound, which, if adversely determined, would have a
Material Adverse Effect.

   SECTION 5.  Representations and Warranties of the Purchaser.  The Purchaser
hereby represents and warrants as of the date hereof and as of the Closing to
the Company as follows:

          5.1  Organization and Standing.  The Purchaser is an independent state
agency created under and validly existing under the laws of the State of
Wisconsin.  The Purchaser has all requisite corporate power to own and operate
its properties and assets, and to carry on its business as presently conducted.

          5.2  Authority.  The Purchaser has full power and authority to execute
and deliver, and to consummate the transactions contemplated by this Agreement.
All corporate action on the part of the Purchaser, its officers, directors and
stockholders necessary for the execution and delivery of, and the consummation
of the transactions contemplated by, this Agreement.  This Agreement, upon
execution and delivery by the Purchaser and assuming the due and proper
execution and delivery by the Company, constitutes a legal, valid and binding
obligation of the Purchaser, enforceable in accordance with its terms, except as
may be limited by (i) applicable bankruptcy, insolvency, reorganization or other
laws of

                                      -4-
<PAGE>

general application relating to or affecting the enforcement of creditors rights
generally, and (ii) the effect of rules of law governing the availability of
equitable remedies.

          5.3  Purchase Entirely for Own Account.  This Agreement is made with
the Purchaser in reliance upon the Purchaser's representation to the Company,
which by the Purchaser's execution of this Agreement, the Purchaser hereby
confirms, that the Shares shall be acquired for investment for the Purchaser's
own account, not as a nominee or agent, and not with a view to the distribution
of any part thereof, and that the Purchaser has no present intention of selling,
granting any participation in, or otherwise taking an action that would
constitute a distribution of the same.

          5.4  Disclosure of Information.  The Purchaser has received all the
information it considers necessary or appropriate for deciding whether to
purchase the Common Stock.  The Purchaser further represents that it has had an
opportunity to ask questions and receive answers from the Company regarding the
terms and conditions of the offering of the Common Stock and the business,
properties, prospects and financial condition of the Company.

          5.5  Investment Experience.  The Purchaser acknowledges that it is
able to fend for itself, can bear the economic risk of its investment, and has
such knowledge and experience in financial or business matters that it is
capable of evaluating the merits and risks of the investment in the Common
Stock.  The Purchaser has not been organized for the purpose of acquiring the
Common Stock.

          5.6  Accredited Investor.  The Purchaser is an "accredited investor"
within the meaning of Rule 501 of Regulation D, promulgated under the Securities
Act.

          5.7  Restricted Securities.  The Purchaser understands that the Shares
it is purchasing are characterized as "restricted securities" under the federal
securities laws inasmuch as they are being acquired from the Company in a
transaction not involving a public offering and that under such laws and
applicable regulations such securities may be resold without registration under
the Securities Act only in certain limited circumstances.  In this connection,
the Purchaser represents that it is familiar with SEC Rule 144 or Rule 144A, as
presently in effect, and understands the resale limitations imposed thereby and
by the Securities Act.

   SECTION 6.  Survival of Representations, Warranties and Agreements.
Notwithstanding any investigation made by any party to this Agreement, all
covenants, agreements, representations and warranties made by the Company and
the Purchaser herein shall survive until the third anniversary of the Closing.

   SECTION 7.  Covenants of the Company.

          7.1  Sale of Common Stock.  The Company shall not, from the Closing
Date until after the date which is 90 days after the Closing Date, sell (a)
shares of Common Stock at a price per share less than [closing price on 6/28/00]
or (b) options, warrants, convertible securities or any other instruments
convertible or otherwise exchangeable into shares of Common Stock at a price per
share less than [closing price on 6/28/00] (other than at a price per share
equal to the then current fair market value pursuant to the Company's stock
option plans, or Employee Stock Purchase Plan).

          7.2  Option Pricing.  The Company shall, within 30 days after the
Closing Date, adopt such amendments to the Company's stock option plans and the
Company's By-laws to provide that:  (a) the exercise price of any option grants
made to employees under Company's stock option plans, or option grants pursuant
to other arrangements or agreements, shall be equal to, or in excess of, the
fair market value of the Company's Common Stock on the date of such the grant;
and (b) the Company shall not,

                                      -5-
<PAGE>

without the consent of the stockholders entitled vote thereon, decrease the
exercise price of any stock option grants made under such Plans or any other
arrangements or agreements.

   SECTION 8.  Covenants of the Purchaser.

          8.1  Limitations on Disposition.  Without in any way limiting any
other provision set forth herein, the Purchaser further agrees not to make any
disposition of all or any portion of the Shares unless and until:

               (a) There is then in effect a registration statement under the
Securities Act covering such proposed disposition and such disposition is made
in accordance with such Registration Statement;

               (b) Such disposition shall be permitted under the provisions of
Rule 144; or

               (c) There is a valid exemption from registration under the
Securities Act and other applicable securities laws and, if requested by the
Company, the Purchaser shall have furnished the Company with an opinion of
counsel, reasonably satisfactory to the Company, that such disposition shall not
require registration.

          8.2  Prospectus Delivery.  The Purchaser hereby covenants with the
Company not to make any sale of the Shares under a registration statement
without effectively causing the prospectus delivery requirement under the
Securities Act to be satisfied.  The Purchaser acknowledges and agrees that the
Shares are not transferable on the books of the Company pursuant to a resale
under a registration statement unless the certificate submitted to the transfer
agent evidencing the Shares is accompanied by a separate officer's certificate,
(a) which may be in the form of Appendix II hereto, (b) executed by an officer
of, or other authorized person designated by, the Purchaser, and (c) to the
effect that (i) the Shares have been sold in accordance with the registration
statement and (ii) the requirement of delivering a current prospectus has been
satisfied.  The Purchaser acknowledges that there may occasionally be times when
the Company must suspend the use of the prospectus forming a part of the
registration statement until such time as an amendment to the registration
statement has been filed by the Company and declared effective by the Securities
and Exchange Commission (the "Commission"), or until such time as the Company
has filed an appropriate report with the Commission pursuant to the Exchange
Act.  The Purchaser hereby covenants that it shall not sell any Shares pursuant
to such prospectus during the period commencing at the time at which the Company
gives the Purchaser written notice of the suspension of the use of such
prospectus and ending at the time the Company gives the Purchaser written notice
that the Purchaser may thereafter effect sales pursuant to such prospectus and
any amendments thereto.  In no event shall the Company suspend the use of the
Prospectus for periods exceeding 45 days during any 12-month period.

   SECTION 9.  Legends.  Each certificate or instrument representing Shares
delivered at the Closing shall bear legends in substantially the following
forms:

               (i) "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
     REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') AND ARE
     'RESTRICTED SECURITIES' AS DEFINED IN RULE 144 PROMULGATED UNDER THE
     SECURITIES ACT.  THE SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR
     OTHERWISE DISTRIBUTED EXCEPT (I) IN CONJUNCTION WITH AN EFFECTIVE
     REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT, OR (II)
     IN COMPLIANCE WITH RULE 144, OR (III) PURSUANT TO AN

                                      -6-
<PAGE>

     OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES THAT SUCH
     REGISTRATION OR COMPLIANCE IS NOT REQUIRED AS TO SUCH SALE, OFFER OR
     DISTRIBUTION."

               (ii) Any other legends required by California law or other
     applicable blue sky or state securities laws.

The Company need not register a transfer of any Shares, and may also instruct
its transfer agent not to register a transfer of any Shares, unless the
conditions specified in the foregoing legends are satisfied to the extent
applicable.

  SECTION 10.  Registration of the Shares; Compliance with the Securities
Act.

         10.1  Registration Procedures and Expenses.  The Company shall:

               (a)  within 15 business days after the Closing Date, prepare and
                    file with the Commission a registration statement on Form S-
                    3 (the "Registration Statement") relating to the sale of the
                    Shares by the Purchaser on the Nasdaq National Market or the
                    facilities of any national securities exchange on which the
                    Common Stock is then traded or in privately-negotiated
                    transactions;

               (b)  use its reasonable best efforts, subject to receipt of
                    necessary information from the Purchaser, to cause the staff
                    of the Commission to notify the Company of the staff's
                    willingness to grant acceleration of the effective date of
                    the Registration Statement within 60 days after the
                    Registration Statement is filed by the Company;

               (c)  promptly notify the Purchaser upon the Registration
                    Statement being declared effective by the Commission;

               (d)  provide to the Purchaser any information necessary to permit
                    sale of the Shares under Rule 144 or Rule 144A of the
                    Securities Act.

               (e)  prepare and file with the Commission such amendments and
                    supplements to the Registration Statement and the prospectus
                    used in connection therewith as may be necessary to keep the
                    Registration Statement effective until the date on which the
                    Shares may be resold in any three-month period by the
                    Purchaser without registration and without any restrictions
                    by reason of Rule 144(k) under the Securities Act or any
                    other rule of similar effect;

               (f)  promptly furnish to the Purchaser with respect to the Shares
                    registered under the Registration Statement (and to each
                    underwriter, if any, of such Shares) such number of copies
                    of prospectuses and such other documents as the Purchaser
                    may reasonably request, in order to facilitate the public
                    sale or other disposition of all or any of the Shares by the
                    Purchaser; provided, however, that the obligation of the
                    Company to deliver copies of prospectuses to the Purchaser
                    shall be subject to the receipt by the Company of reasonable
                    assurances from the Purchaser that the Purchaser shall
                    comply with the applicable provisions of the Securities Act
                    and of

                                      -7-
<PAGE>

                    such other securities or blue sky laws as may be applicable
                    in connection with any use of such prospectuses;

               (g)  file documents required of the Company for normal blue sky
                    clearance in all states requiring blue sky clearance;
                    provided, however, that the Company shall not be required to
                    qualify to do business or consent to service of process in
                    any jurisdiction in which it is not now so qualified or has
                    not so consented; and

               (h)  bear all expenses in connection with the procedures in
                    paragraphs (a) through (g) of this Section 10.1 and the
                    registration of the Shares pursuant to the Registration
                    Statement, other than fees and expenses, if any, of counsel
                    or other advisers to the Purchaser or underwriting
                    discounts, brokerage fees and commissions incurred by the
                    Purchaser, if any.

         10.2  Transfer of Shares After Registration. The Purchaser agrees that
it shall not effect any disposition of the Shares or its right to purchase the
Shares that would constitute a sale within the meaning of the Securities Act,
except as contemplated in the Registration Statement referred to in Section 10.1
or as otherwise permitted by law, and that it shall promptly notify the Company
of any changes in the information set forth in the Registration Statement
regarding the Purchaser or its plan of distribution.

         10.3  Indemnification.  In the event any securities are included in a
registration statement under this Section 10:

               (a)  To the extent permitted by law, the Company shall indemnify
and hold harmless the Purchaser and each person, if any, who controls the
Purchaser within the meaning of the Securities Act or the Exchange Act, against
any losses, claims, damages, or liabilities (joint or several) to which they may
become subject under the Securities Act or the Exchange Act or other federal or
state law, insofar as such losses, claims, damages, or liabilities (or actions
in respect thereof) arise out of or are based upon any of the following
statements, omissions or violations (collectively a "Violation"): (i) any untrue
statement or alleged untrue statement of a material fact contained in such
Registration Statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto, (ii) the omission or
alleged omission to state therein a material fact required to be stated therein,
or necessary to make the statements therein not misleading, or (iii) in
connection with the sale or purchase of the Shares, any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation promulgated under the Securities Act,
or the Exchange Act or any state securities law; and the Company shall pay to
the Purchaser or controlling person, as incurred, any legal or other expenses
reasonably incurred by them in connection with investigating or defending any
such loss, claim, damage, liability, or action; provided, however, that the
indemnity agreement contained in this subsection 10.3(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability, or action
if such settlement is effected without the consent of the Company (which consent
shall not be unreasonably withheld), nor shall the Company be liable in any such
case for any such loss, claim, damage, liability, or action to the extent that
it arises out of or is based upon a Violation which occurs in reliance upon and
in conformity with written information furnished expressly for use in connection
with such registration by the Purchaser or controlling person.

               (b) To the extent permitted by law, the Purchaser shall indemnify
and hold harmless the Company, each of its directors, each of its officers who
has signed the registration statement, each person, if any, who controls the
Company within the meaning of the Securities Act, its attorneys, its

                                      -8-
<PAGE>

underwriters, and any controlling person of any such underwriter, against any
losses, claims, damages, or liabilities (joint or several) to which any of the
foregoing persons may become subject, under the Securities Act, or the Exchange
Act or other federal or state law, insofar as such losses, claims, damages, or
liabilities (or actions in respect thereto) arise out of or are based upon any
Violation, in each case to the extent (and only to the extent) that such
Violation occurs in reliance upon and in conformity with written information
furnished by the Purchaser expressly for use in connection with such
registration; and the Purchaser shall pay, as incurred, any legal or other
expenses reasonably incurred by any person intended to be indemnified pursuant
to this subsection 10.3(b), in connection with investigating or defending any
such loss, claim, damage, liability, or action; provided, however, that the
indemnity agreement contained in this subsection 10.3(b) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Purchaser, which
consent shall not be unreasonably withheld; provided, that, in no event shall
any indemnity under this subsection 10.3(b) exceed the gross proceeds from the
offering received by the Purchaser.

               (c) Promptly after receipt by an indemnified party under this
Section 10.3 of notice of the commencement of any action (including any
governmental action), such indemnified party shall, if a claim in respect
thereof is to be made against any indemnifying party under this Section 10.3,
deliver to the indemnifying party a written notice of the commencement thereof
and the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party
(together with all other indemnified parties which may be represented without
conflict by one counsel) shall have the right to retain one separate counsel,
with the fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action, if prejudicial to its ability to defend such action, shall relieve such
indemnifying party of any liability to the indemnified party under this Section
10.3, but the omission so to deliver written notice to the indemnifying party
shall not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 10.3.

               (d)  If the indemnification provided for in this Section 10.3 is
held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage, or expense referred to
therein, then the indemnifying party, in lieu of indemnifying such indemnified
party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage, or expense
in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that resulted in such loss,
liability, claim, damage, or expense as well as any other relevant equitable
considerations; provided that in no event shall any contribution by the
Purchaser under this subsection 10.3(d) exceed the amount of the gross proceeds
received by the Purchaser from the offering. The relative fault of the
indemnifying party and of the indemnified party shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission to state a material fact relates to information
supplied by the indemnifying party or by the indemnified party and the parties'
relative intent, knowledge, access to information, and opportunity to correct or
prevent such statement or omission.

               (e)  The obligations of the Company and the Purchaser under this
Section 10.3 shall survive the completion of any offering of securities in a
registration statement under this Section 10 or otherwise.

                                      -9-
<PAGE>

         10.4  Termination of Registration Obligations.  The obligations of the
Company set forth in Section 10.1 shall cease and terminate as to the Shares on
the date on which all Shares (i) are eligible for sale during any three-month
period without restriction under Rule 144, (ii) have been effectively registered
under the Securities Act and sold or otherwise disposed of by the Purchaser in
accordance with the intended method of disposition set forth in the Registration
Statement or (iii) the Company receives an opinion of counsel satisfactory in
form and substance to the Company to the effect that such conditions are not
necessary in order for a transfer of Shares to comply with the Securities Act.

         10.5  Information Available.  So long as the Registration Statement is
effective covering the resale of Shares owned by the Purchaser, the Company
shall furnish to the Purchaser:

               (a)  as soon as practicable after the Company has made such
                    information available to the public through submission to
                    the SEC (but in the case of the Company's Annual Report to
                    Stockholders, within 120 days after the end of each fiscal
                    year of the Company), one copy of (i) its Annual Report to
                    Stockholders, (ii) if not included in substance in the
                    Annual Report to Stockholders, its Annual Report on Form 10-
                    K, (iii) its Quarterly Reports on Form 10-Q, (iv) its
                    Current Reports on Form 8-K, and (v) a full copy of the
                    particular Registration Statement covering the Shares (the
                    foregoing, in each case, excluding exhibits); and

               (b)  upon the written request of the Purchaser, a reasonable
                    number of copies of the prospectuses to supply to any other
                    party requiring such prospectuses in connection with the
                    Purchaser's prospectus delivery requirements under the
                    Securities Act;

and the Company, upon the reasonable request of the Purchaser, shall meet with
the Purchaser or a representative thereof at the Company's headquarters to
discuss information relevant for disclosure in the Registration Statement
covering the Shares, subject to appropriate confidentiality limitations as the
Company may require.

  SECTION 11.  Brokers.  Each of the parties hereto hereby represents that,
on the basis of any actions and agreements by it, there are no brokers or
finders entitled to compensation in connection with the sale of the Shares to
the Purchaser.

  SECTION 12.  Notices.  All notices, requests, consents and other
communications hereunder shall be in writing, shall be mailed by first-class
registered or certified airmail, confirmed facsimile or nationally recognized
overnight express courier postage prepaid, and shall be deemed given when so
mailed and shall be delivered as addressed as follows:

               (a)  if to the Company, to:

                                     -10-
<PAGE>

                    Read-Rite Corporation
                    44100 Osgood Road
                    Fremont, California 94539

                    Attention:  John T. Kurtzweil
                    Facsimile:  (510) 683-7102

                    with a copy to:


                    Wilson Sonsini Goodrich & Rosati
                    650 Page Mill Road
                    Palo Alto, California 94304-1050
                    Attention:  Larry Sonsini, Esq.
                    Facsimile:  (650) 493-6811

               or to such other person at such other place as the Company shall
               designate to the Purchaser in writing; and

               (b) if to the Purchaser, at its address as set forth at the end
                   of this Agreement, or at such other address or addresses as
                   may have been furnished to the Company in writing.

  SECTION 13.  Changes.  This Agreement may not be modified or amended except
pursuant to an instrument in writing signed by the Company and the Purchaser.

  SECTION 14.  Headings.  The headings of the various sections of this
Agreement have been inserted for convenience of reference only and shall not be
deemed to be part of this Agreement.

  SECTION 15.  Severability.  In case any provision contained in this
Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby.

  SECTION 16.  Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of California.

  SECTION 17.  No Conflicts of Interest.  The Company represents, warrants
and covenants that, to the knowledge of the Company, no trustee, officer or
employee of the of the Purchaser will receive, directly or indirectly, any
personal interest in the Company or its property of anything of substantial
economic value for his or her private benefit from the Company, or anyone acting
its behalf, in connection with the investment made pursuant to this Agreement.

  SECTION 18.  Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                                     -11-
<PAGE>

          IN WITNESS WHEREOF, each of the parties hereto has executed this
Agreement or caused this Agreement to be executed by its duly authorized
representative as of the day and year first above written.


                              READ-RITE CORPORATION



                              By
                                ---------------------------------

                                  Name:

                                  Title:

Print or Type:

                              Name of the Purchaser
                               (Individual or Institution):

                              ---------------------------------

                              Name of Individual representing
                               the Purchaser (if an Institution):

                              ---------------------------------

                              Title of Individual representing
                               the Purchaser (if an Institution):

                              ---------------------------------

Signature by:

                              Individual Purchaser or Individual
                               representing the Purchaser:

                              ---------------------------------

                              Address:
                                          ---------------------------

                              Telephone:
                                          ---------------------------

                              Facsimile:
                                          ---------------------------

                                     -12-