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                                                                EXHIBIT 10.50

                             FOURTH AMENDMENT TO THE
                            READ-RITE EMPLOYEE 401(K)
                             RETIREMENT SAVINGS PLAN

         The Read-Rite Employee 401(k) Retirement Savings Plan (the "Plan") is
amended by this Fourth Amendment, effective November 1, 1996.

         Before January 1, 1995, Plan participants had the right to direct the
Plan trustee to purchase group universal life insurance contracts ("GULP
Contracts") with assets in their accounts. This right to purchase GULP contracts
was terminated on January 1, 1995, but participants were permitted to continue
to hold those GULP contracts purchased before January 1, 1995, in their Plan
accounts. Effective November 1, 1996, the Plan Administrative Committee amended
the Plan to require the surrender or sale of all GULP contracts held by the
Plan, as follows:.

         The subparagraph (d) Section 3.16 is amended and restated in its
entirety to read as follows:

                           "(d) Before January 1, 1995, group universal life
                           insurance policy contracts ("GULP Contracts") issued
                           by one or more insurance companies could be purchased
                           from assets in the Participant's Accounts by the Plan
                           Trustee upon written direction from a Participant.
                           Effective January 1, 1995, GULP Contracts were
                           discontinued as an investment option under the Plan.
                           Notwithstanding the foregoing sentence, Participant
                           Accounts could continue to hold those GULP Contracts
                           purchased before January 1, 1995, in accordance with
                           the rules applicable to investments in life insurance
                           contracts set forth in Appendix A to this Plan.
                           Effective November 1, 1996, Participant Accounts
                           shall be prohibited from investing in GULP Contracts.
                           As soon as administratively feasible after November
                           1, 1996, any GULP Contract held by a Participant's
                           account on that date shall be surrendered to the
                           issuing insurance company in exchange for the total
                           accumulated cash value under the contract or, at the
                           Participant's option, sold to the Participant by the
                           Plan Trust in accordance with the requirements of
                           Prohibited Transaction Class Exemption 92-6 (57 Fed.
                           Reg. 5189, 2/11/92)."

         b. Effective November 1, 1996, Appendix A to the Plan is deleted in its
entirety.




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         The above Fourth Amendment to the Plan has been adopted by the Plan
Administrative Committee pursuant to and in a manner consistent with a valid
delegation of authority from the Board of Directors of Read-Rite Corporation.

         IN WITNESS WHEREOF the Plan Administrative Committee hereby adopts the
Fourth Amendment to the Plan, effective November 1, 1996.


                                        PLAN ADMINISTRATIVE COMMITTEE FOR THE
                                        READ-RITE EMPLOYEE 401(k) RETIREMENT
                                        SAVINGS PLAN



                                        By: /s/ LUCIA BRANNON
                                           ------------------------
                                        Lucia Brannon
                                        Chairman, Plan Administrative Committee







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                             FIFTH AMENDMENT TO THE
                               READ-RITE EMPLOYEE
                         401(K) RETIREMENT SAVINGS PLAN


         Effective March 20th, 1997, the Read-Rite Corporation Employee 401(k)
Retirement Savings Plan (the "Plan") is hereby amended pursuant to Section 12.1
of the Plan.

         1.    Investment Options. Section 3.16(c) of the Plan is hereby
deleted.


         2.    Shareholder Voting Rights With Respect To Employer Stock. Section
3.17 of the Plan is amended in its entirety to read as follows:

                  "3.17 Shareholder Voting Rights With Respect To Employer
Stock. Except to the extent an Investment Manager or independent fiduciary has
been appointed for such purpose as provided in Section 10.4(b), the Plan
Committee shall direct the Trustee whether to vote or tender (in the event of a
tender offer) shares of Employer Stock in Participants' Employer Matching
Contribution Accounts," subject to the provisions of Appendix B

         3.    Designation of Named Fiduciary. Article 10 is amended as follows:


                  (a)    The following new Section 10.4 is added:

                  (b)    Sections 10.4-10.6 are renumbered accordingly

                  "10.4 (a) Named Fiduciary for Investments. The Plan Committee
is the Named Fiduciary for Investments and shall have authority and
responsibility with respect to the control or management of the Plan assets
provided for by ERISA, including without limitation, selecting, reviewing and
retaining or changing investment options offered under the Plan, reviewing the
Trustee's performance with respect to the Trustee's duties, responsibilities and
obligations under the Plan and Trust Agreement, directing the investments of the
Trust's assets , communicating Participants' investment elections to the
Trustee, and directing the Trustee to vote or tender shares of Employer Stock
held by the Plan in accordance with the provisions of the Plan and Appendix B.

                           (b) The Plan Committee may, in its discretion,
appoint (or remove) one or more Investment Managers as defined in ERISA to
direct the investment and management of all or part of the assets of the Trust.
Such Investment Manager shall have the power to manage, acquire and dispose of
the part of the assets of the Trust designated by the Plan Committee. In
addition, the Plan Committee may, in its discretion, appoint (or remove) an
independent fiduciary to discharge any of its responsibilities as the Named
Fiduciary for Investments. Any appointment of an Investment Manager or an
independent fiduciary shall be in writing and shall clearly specify the actions
for which such Investment Manager or independent fiduciary is responsible. Any
Investment Manager or independent fiduciary appointed under this section shall
accept the 




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responsibilities delegated to him, her or it and shall acknowledge that he, she
or it is a fiduciary of the Plan subject to the provisions of ERISA."


         4. Tender Offers. Appendix B is hereby added to the Plan to read as
follows:

                                   "APPENDIX B
                     VOTING EMPLOYER STOCK AND TENDER OFFERS

         1.    Voting Rights.

                  (a)    Each Participant shall be entitled to direct the Plan
Committee or such Investment Manager or independent fiduciary who has been
appointed for this purpose with respect to voting on those certain matters
listed below (the "Pass-Through Voting Rights") as to all shares of Employer
Stock allocated to such Participant's Employer Matching Contribution Accounts,
whether or not vested, in accordance with the provisions of this Appendix B. For
purposes of this Appendix B, the Plan Committee, any such Investment Manager or
independent fiduciary is referred to as the "Employer Stock Fiduciary." The Plan
Committee shall conclusively determine the number of shares of Employer Stock
that are subject to each Participant's Pass-Through Voting Rights and shall
advise the Employer Stock Fiduciary accordingly.

                  (b)    With respect to any matter which is the subject of
Pass-Through Voting Rights, the Employer Stock Fiduciary shall direct the
Trustee not to vote any shares of Employer Stock held in the Trust Fund with
respect to which the Employer Stock Fiduciary has not received, prior to the
date specified therefor, written instructions on the prescribed form from the
Participants who are entitled to direct the manner in which such shares shall be
voted.

                  (c)    The matters which are the subject of Pass-Through
Voting Rights with respect to the Employer Stock are as follows:

                          (i)      all matters which are the subject of proxy or
written consent solicitation if any proposal or election contained in such
solicitation is the subject of an opposing solicitation;

                          (ii)     all matters contained in any opposing
solicitation described in paragraph 1(c)(i), above; and

                          (iii)    any matters which are the subject of a proxy
or written consent solicitation which is made in connection with or is related
to a tender offer described in paragraph 2, below.

         2.    Tender Offer Instructions by Participants. Consistent with
section 403(a)(1) of ERISA, in the event that any person or group makes an offer
subject to section 13(e) or section 14(d) of the Securities Exchange Act of 1934
to acquire all or part of the outstanding shares of Employer Stock, including
Employer Stock held in the Plan, each Participant shall be entitled to




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direct the Employer Stock Fiduciary whether to tender all or part of those
shares of Employer Stock, whether or not vested, which are allocated to the
Participant's Employer Matching Contribution Accounts. The Employer Stock
Fiduciary shall direct the Trustee to tender or not to tender such Employer
Stock in accordance with the Participant's instructions (the "Tender
Instructions"). The Employer Stock Fiduciary shall direct the Trustee not to
tender any Employer Stock held in the Trust Fund with respect to which the
Employer Stock Fiduciary does not receive Tender Instructions as provided in
this section.

         3.    Named Fiduciary. With respect to Voting Rights and Tender
Instructions, each participant is considered a named fiduciary pursuant to ERISA
section 403(a)(1) for the limited purpose of giving such directions.

         4.    Procedures for Voting and Tender Instructions. The Employer Stock
Fiduciary shall, in its discretion, establish such procedures as may be
appropriate to enable Participants to exercise their Pass Through Voting Rights
and/or issue Tender Instructions including, but not limited to, such procedures
as may:

                  (a)    Specify the date by which such voting or Tender
Instructions must be received and the method by which such voting or Tender
Instructions shall be given;

                  (b)    Ensure confidentiality of Participants' votes or Tender
Instructions;

                  (c)    Protect Participants from coercion or undue pressure in
the exercise of their Pass Through Voting Rights or issuance of Tender
Instructions.

                  (d)    Specify the method for determining the number of shares
of Employer Stock which are subject to each Participant's Pass Through Voting
Rights and/or Tender Instructions.

All procedures established hereunder shall be applied in a nondiscriminatory and
uniform manner."

         5.    Full Force and Effect.  Except as otherwise provided in this
Fifth Amendment, the Plan shall remain in full force and effect.




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         The above Fifth Amendment to the Plan has been adopted by the Plan
Committee pursuant to and in a manner consistent with a resolution of the Board
of Directors of Read-Rite Corporation.

         IN WITNESS WHEREOF, the Plan Committee hereby adopts the Fifth
Amendment to the Plan on this 20th day of March, 1997.



                                      PLAN COMMITTEE FOR THE READ-RITE
                                      EMPLOYEE 401(k) RETIREMENT SAVINGS PLAN



                                      By: /s/ LUCIA BRANNON
                                         ---------------------------------------
                                         Lucia Brannon, Chairman, Plan Committee








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