Document:

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                                                                   EXHIBIT 10.90

PERSONAL AND CONFIDENTIAL

December 5, 2001

Gerald Schenkkan

Dear Tex:

Pursuant to our discussions over the past several months, we are pleased to
offer you a long-term incentive bonus opportunity. This letter amends and
replaces the "CEBU-specific long-term incentive plan" provisions in the March
23, 2000 letter from Mr. John Gannon to you (copy attached).

1. LONG-TERM INCENTIVE PLAN.

     a. PART 1. Based on your April 19, 2001 email (copy attached) and the March
        23 letter, Maxtor agrees to pay you $500,000 in recognition of your
        results relative to established goals regarding Consumer Electronics.
        This amount will be targeted for payout as soon as administratively
        feasible after you sign and accept this letter agreement and return it
        to Maxtor.

     b. PART 2. Maxtor also agrees to provide you with an incentive opportunity
        target of $250,000. Pay-out would be based on achievement of certain
        corporate financial metrics established by the Maxtor Board of Directors
        for the Maxtor Merger Incentive Plan. If the metrics are achieved payout
        would be targeted for April 2003. Based on the Boards assessment of the
        achievement of the metrics, the pay-out could range from zero (0) to
        200% of the target amount. This incentive opportunity is in addition to
        your Annual Incentive Program opportunity.

     c. All payments made under this letter agreement shall be subject to
        applicable tax withholding requirements. In order to receive a payment
        hereunder, you must be employed by Maxtor on the date such payment is
        scheduled by Maxtor to be made.

2. NON-INTERFERENCE. Recognizing that an important element of the Company's
   business success is the information and/or business relationships entrusted
   to the Company's employees, you agree that during the term of your employment
   and for a period of two (2) years thereafter, regardless of how or why your
   termination occurs, you will not directly or indirectly (i) solicit, cause or
   attempt to cause any customer or prospective customer of the Company with
   whom you dealt, or with respect to which you were provided or had access to
   any confidential information at any time during your employment with the
   Company, to divert, terminate, limit or in any manner fail to enter into any
   actual or potential business relationship with the Company; or (ii) in any
   way disrupt, damage, impair or interfere with the business of the Company,
   whether by way of interfering with or soliciting its employees, disrupting
   its relationship with customers, agents, vendors, distributors or
   representatives, or otherwise. These obligations are in addition to any
   similar obligations set forth in the Confidentiality Agreement or any other
   Agreement between you and the Company.

<PAGE>
Mr. Tex Schenkkan
December 3, 2001
Page 2

3.   At-Will Employment. Nothing contained herein shall be interpreted as
     changing the fact that your employment relationship with Maxtor is at
     will, which means that either you or Maxtor may terminate the relationship
     at any time for any reason.

4.   Governing, Law, Interpretation. This letter shall be interpreted in
     accordance with and governed by the laws of the State of California,
     exclusive of choice of law provisions. If any one or more of the
     provisions (or any part thereof) of this letter agreement shall be held
     invalid, illegal or unenforceable in any respect, the validity, legality
     and enforceability of the remaining provisions (or any part thereof) shall
     not in any way be affected or impaired thereby.

5.   Miscellaneous. This letter shall supercede all prior arrangements, whether
     written or oral, and understandings regarding the subject matter of this
     letter. This letter and its terms may only be modified or amended by a
     supplemental written agreement signed by you and an authorized
     representative of Maxtor. You agree that no person has made any promise or
     representation to you related to the subject matter herein, except for the
     promises and representations expressly written in this letter, and that you
     have not relied on any such promise or representation and you understand
     that Maxtor does not allow any person to make any such promise or
     representation.

To indicate your acceptance of the terms of this letter, please sign and date
where indicated below and return it to me within one (1) week of the date that
you received this letter.

<PAGE>
Mr. Tex Schenkkan
December 3, 2001
Page 3

Sincerely,

MAXTOR CORPORATION

/S/ Phil Duncan
Executive Vice President
Human Resources, Facilities

ACCEPTED AND AGREED.

       12/09/01                                         /S/ Gerard Schenkkan
DATED:---------------------                   SIGNATURE:---------------------

                                                        /s/ Gerard Schenkkan
                                              PRINT NAME:--------------------<PAGE>
                                                                   EXHIBIT 10.91

                         FIRST AMENDMENT TO AMENDED AND
                     RESTATED RECEIVABLES PURCHASE AGREEMENT

        This First Amendment to Amended and Restated Receivables Purchase
Agreement, dated as of February 15, 2002 (this "Amendment"), is among MAXTOR
RECEIVABLES CORPORATION, a California corporation ("Seller"), MAXTOR
CORPORATION, a Delaware corporation ("Maxtor"), the commercial paper conduits
named herein (the "Conduit Purchasers"), the financial institutions named herein
(the "Committed Purchasers"), the parties named herein as agents (the "Agents"),
and FLEET NATIONAL BANK, a national banking association, as administrator for
the Purchasers (in such capacity, the "Administrator").

                                   BACKGROUND

        1. Seller, Maxtor, the Conduit Purchasers, the Committed Purchasers, the
Agents and the Administrator are parties to that certain Amended and Restated
Receivables Purchase Agreement, dated as of November 15, 2001 (the "Receivables
Purchase Agreement").

        2. The parties hereto desire to amend the Receivables Purchase Agreement
in certain respects as set forth herein.

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

        SECTION 1. Definitions. Capitalized terms used in this Amendment and not
otherwise defined herein shall have the meanings assigned thereto in the
Receivables Purchase Agreement.

        SECTION 2. Tangible Net Worth. Subject to Section 5 hereof, the
definition of "Tangible Net Worth" that appears in Appendix A to the Receivables
Purchase Agreement is hereby amended by adding the following clause at the end
thereof: "and $90,000,000 for goodwill recorded on December 31, 2001, net of any
recoveries".

        SECTION 3. Waiver of Liquidation Event. The Purchasers hereby waive the
occurrence of a Liquidation Event pursuant to Section 10.01(p)(i) that occurred
as of December 31, 2001. The foregoing waiver is limited to the specific
circumstance set forth in the foregoing sentence, and for the specific date
referred to therein, and only for the time period set forth in Section 5 hereof,
and is not intended to be, nor shall it be deemed to be, a waiver of any other
Liquidation Event, whether now existing or hereafter occurring.

        SECTION 4. Amendment Fee. Seller has paid to (i) each Committed
Purchaser (other than Comerica Bank and ING Baring (U.S.) Capital Markets LLC
("ING")) an amendment fee of $37,500 and (ii) Comerica Bank, an amendment fee of
$10,000.

<PAGE>

        SECTION 5. Effectiveness. The terms of this Amendment shall be effective
for the period from the date hereof until May 15, 2002, at which time the terms
hereof, including the waiver set forth in Section 3, shall cease to be effective
and the Administrator, the Agents and the Purchasers shall have all of their
rights and remedies pursuant to the Receivables Purchase Agreement with respect
to the Liquidation Event described in Section 3 hereof, and any other
Liquidation Event, whether now existing or hereafter occurring, provided that if
the Commitment of Holland Limited Securitization Inc., as a Conduit Purchaser,
and ING, as a Committed Purchaser, are replaced in full by one or more Conduit
Purchasers and Committed Purchasers on or before May 15, 2002, or if ING
consents in writing on or before May 15, 2002 to the continued effectiveness of
this Amendment, then the terms of this Amendment shall not expire on May 15,
2002, but shall continue in full force and effect.

        SECTION 6. Representations and Warranties. Each of Parent and Seller
hereby represents and warrants that, after giving effect to this Amendment, (i)
the representations and warranties contained in Article VI of the Receivables
Purchase Agreement are true and correct on and as of the date hereof and shall
be deemed to have been made on such date (except that any such representation or
warranty that is expressly stated as being made only as of a specified earlier
date shall be true and correct in all material respects as of such earlier date)
and (ii) no Liquidation Event or Unmatured Liquidation Event has occurred and is
continuing.

        SECTION 7. Miscellaneous. The Receivables Purchase Agreement , as
amended hereby, remains in full force and effect. Any reference to the
Receivables Purchase Agreement from and after the date hereof shall be deemed to
refer to the Receivables Purchase Agreement as amended hereby. This Amendment
may be executed in counterparts, each of which when so executed shall be deemed
to be an original and all of which when taken together shall constitute one and
the same agreement. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York. Seller, on demand, shall
pay, or reimburse the Administrator for, all of the costs and expenses,
including legal fees and disbursements, incurred by the Administrator or any
Purchaser in connection with this Amendment.

                  [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

                                       2
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        IN WITNESS WHEREOF, each of the undersigned has caused this Amendment to
be executed and delivered by its duly authorized officer as of the date first
above written.

                                        MAXTOR RECEIVABLES CORPORATION

                                        By: /s/ GLEN HAUBL
                                            ------------------------------------
                                        Name: Glen Haubl
                                              ----------------------------------
                                        Title: CFO
                                               ---------------------------------

                                        MAXTOR CORPORATION

                                        By: /s/ PAUL J. TUFANO
                                            ------------------------------------
                                        Name: Paul J. Tufano
                                              ----------------------------------
                                        Title: COO & CFO
                                               ---------------------------------

                                      S-1
<PAGE>

                                        BLUE KEEL FUNDING, LLC,
                                        as a Conduit Purchaser

                                        By: /s/ ANDREW M. YEARDE
                                            ------------------------------------
                                        Name Printed: Andrew M. Yearde
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-2
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                                        FLEET NATIONAL BANK, as Administrator
                                        and as Blue Keel Agent

                                        By: /s/ PAUL SCHMIEDER
                                            ------------------------------------
                                        Name Printed: Paul Schmieder
                                                      --------------------------
                                        Title: Director
                                               ---------------------------------

                                      S-3
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                                        FLEET NATIONAL BANK, as a
                                        Committed Purchaser

                                        By: /s/ LEE A. MERKLE-RAYMOND
                                            ------------------------------------
                                        Name Printed: Lee A. Merkle-Raymond
                                                      --------------------------
                                        Title: Director
                                               ---------------------------------

                                      S-4
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                                        COMERICA BANK, as a Committed Purchaser

                                        By: /s/ DEVIN SEATTIHI
                                            ------------------------------------
                                        Name Printed: Devin Seattihi
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-5
<PAGE>

                                        HOLLAND LIMITED SECURITIZATION, INC., as
                                        a Conduit Purchaser

                                        By: ING Baring (U.S.) Capital Markets
                                            LLC, as Attorney-in-Fact

                                        By: /s/  LAUREL S. CHOATE
                                            ------------------------------------
                                        Name Printed: Laurel S. Choate
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-6
<PAGE>

                                        ING BARING (U.S.) CAPITAL MARKETS LLC,
                                        as Holland Limited Agent

                                        By: /s/ LAUREL S. CHOATE
                                            ------------------------------------
                                        Name Printed: Laurel S. Choate
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-7
<PAGE>

                                        ING BARING (U.S.) CAPITAL MARKETS LLC,
                                        as a Committed Purchaser

                                        By: /s/ LAUREL S. CHOATE
                                            ------------------------------------
                                        Name Printed: Laurel S. Choate
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-8
<PAGE>

                                        LIBERTY STREET FUNDING CORP., as a
                                        Conduit Purchaser

                                        By: /s/  KEVIN P. BURNS
                                            ------------------------------------
                                        Name Printed: Kevin P. Burns
                                                      --------------------------
                                        Title: Vice President
                                               ---------------------------------

                                      S-9
<PAGE>

                                        THE BANK OF NOVA SCOTIA, as Liberty
                                        Street Agent

                                        By: /s/ NORMAN H. LAST
                                            ------------------------------------
                                        Name Printed: Norman H. Last
                                                      --------------------------
                                        Title: Director
                                               ---------------------------------

                                      S-10
<PAGE>

                                        THE BANK OF NOVA SCOTIA, as a Committed
                                        Purchaser

                                        By: /s/ NORMAN H. LAST
                                            ------------------------------------
                                        Name Printed: Norman H. Last
                                                      --------------------------
                                        Title: Director
                                               ---------------------------------

                                      S-11

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