Document:

<PAGE>   1
                                                                     Exhibit 4.6

     THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED
     UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS,
     AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE
     REGISTRATION STATEMENT THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 OR AN
     OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL,
     THAT SUCH REGISTRATION IS NOT REQUIRED, EXCEPT AS PROVIDED HEREIN.

                                 NEW FOCUS, INC.
                        WARRANT TO PURCHASE COMMON STOCK

<TABLE>
<S>                         <C>
Warrant Holder:             Komag, Incorporated

Class of Stock:             New Focus, Inc. Common Stock (the "Common Stock")

Number of Shares:           20,000 shares of Common Stock (the "Warrant Shares")

Warrant Exercise Price:     The price per share of Common Stock shall be $ ____ (the "Warrant Exercise
                            Price"), subject to adjustments from time to time as specified in Section 5,
                            below

Issue Date:                 May ___, 2000
</TABLE>

     THIS WARRANT CERTIFIES THAT, for value received, Komag Incorporated, (the
"Holder") is entitled to subscribe for and purchase, subject to the provisions
and upon the terms and conditions hereinafter set forth, 20,000 fully paid and
nonassessable shares of Common Stock of New Focus, Inc., a Delaware corporation
(the "Company") at the Warrant Exercise Price (subject to adjustments from time
to time, as specified in Section 5 hereof) (such agreement, the "Warrant").

     1.   Term and Expiration. The purchase right represented by this Warrant is
exercisable, in whole or in part during the period beginning on the Issue Date,
and ending on May __, 2002 (the "Exercise Period").

     2.   Method of Exercise; Cash Payment; Issuance of New Warrant. Subject to
Section 1, the purchase right represented by this Warrant may be exercised by
the Holder hereof, in whole or in part and from time to time, at the election of
the Holder hereof, by the surrender of this Warrant (with the notice of exercise
substantially in the form attached hereto as Exhibit A duly completed and
executed) at the principal office of the Company and by the payment to the
Company, by cancellation of indebtedness, certified or bank check, or by wire
transfer to an account designated by the Company of an amount equal to the then
applicable Warrant Exercise Price multiplied by the number of shares then being
purchased.

     The person or persons in whose name(s) any certificate(s) representing the
shares of Common Stock shall be issuable upon exercise of this Warrant shall be
deemed to have become the holder(s) of record of, and shall be treated for all
purposes as the record holder(s) of, the shares represented thereby (and such
shares shall be deemed to have been issued) immediately prior to the close of
business on the date or dates upon which this Warrant is exercised. In the event
of any exercise of the rights represented by this Warrant,

<PAGE>   2

certificates for the shares of Common Stock so purchased shall be delivered to
the Holder hereof as soon as reasonably practicable and, unless this Warrant has
been fully exercised or expired, a new Warrant representing the portion of such
shares, if any, with respect to which this Warrant shall not then have been
exercised shall also be issued to the Holder hereof as soon as reasonably
practicable.

     3. Right to Convert Warrant.

          (a)  Conversion Right. In lieu of the payment set forth in Section 2
above, the Holder shall have the right to convert this Warrant ( the "Conversion
Right"), in whole or in part, at any time during the Exercise Period, into
shares of Common Stock as provided for in this Section 3. Upon exercise of the
Conversion Right, the Company shall deliver to the Holder (without payment by
the Holder of any Warrant Exercise Price) that number of shares of Common Stock
equal to the quotient obtained by dividing (x) the value of the Warrant at the
time the Conversion Right is exercised (determined by subtracting the aggregate
Warrant Exercise Price for the Warrant Shares in effect immediately prior to the
exercise of the Conversion Right from the aggregate Fair Market Value, as
defined below, for the Warrant Shares immediately prior to the exercise of the
Conversion Right) by (y) the Fair Market Value of one share of the Warrant
Shares immediately prior to the exercise of the Conversion Right.

          (b)  Exercise of the Conversion Right. The Conversion Right may be
exercised by the Holder on any business day during the Exercise Period. Such
exercise shall be effected by (a) the surrender of this Warrant and (b) delivery
of the Notice of Conversion attached hereto as Exhibit B at the office of the
Company.

          (c)  Effect of Conversion. This Warrant shall be deemed to have been
converted immediately prior to the close of business on the date of its
surrender for conversion as provided above, and the person entitled to receive
the shares of Common Stock issuable upon such conversion shall be treated for
all purposes as the holder of record of such shares as of the close of business
on such date. As promptly as practicable on or after such date, the Company, at
its expense, shall issue and deliver to the person or persons entitled to
receive the same a certificate or certificates for the number of shares issuable
upon such conversion.

          (d)  Fair Market Value. Fair Market Value of a Warrant Share as of a
particular date (the "Determination Date") shall mean the Fair Market Value of a
share of the Company's Common Stock as of such Determination Date multiplied by
the number of shares of Common Stock into which a Warrant Share is then
convertible. Fair Market Value of a share of Common Stock as of a Determination
Date shall mean:

               (i)  If the Company's Common Stock is traded on an exchange or is
quoted on the National Association of Securities Dealers, Inc. Automated
Quotation ("NASDAQ") National Market System, then the closing or last sale
price, respectively, reported for the business day immediately preceding the
Determination Date.

               (ii) If the Company's Common Stock is not traded on an exchange
or on the NASDAQ National Market System but is traded in the over-the-counter
market, then the mean of the closing bid and asked prices reported for the
business day immediately preceding the Determination Date.

               (iii) If the Determination Date is the date on which the
Company's Common Stock is first sold to the public by the Company in a firm
commitment public offering under the Securities Act of 1933, as amended, then
the initial public offering price (before deducting commissions, discounts or
expenses) at which the Common Stock is sold in such offering.

                                       2

<PAGE>   3

               (iv) Otherwise, as determined in good faith by the Company's
Board of Directors upon a review of relevant factors, including, without
limitation, the price per share that the Company could obtain from a willing
third party buyer for shares of Common Stock sold by the Company and
communicated in writing to the Holder upon Holder's written request. If this
Warrant shall have deemed to be "net exercised" pursuant to the terms of Section
3 hereof and this Section 3 (d)(iv) is invoked, then the good faith
determination by the Company's Board of Directors of the fair market value of
one share of Warrant Stock shall be final and binding on the Holder.

     4.   Stock Fully Paid; Reservation of Shares. All shares of Common Stock
that may be issued upon the exercise of the rights represented by this Warrant
will, upon issuance pursuant to the terms and conditions herein, be fully paid
and nonassessable, and free from all preemptive rights, taxes, liens and charges
with respect to the issue thereof. During the Exercise Period, the Company will
at all times have authorized, and reserved for the purpose of the issue upon
exercise of the purchase rights evidenced by this Warrant, a sufficient number
of shares of its capital stock to provide for the exercise of the rights
represented by this Warrant.

     5.   Adjustment of Warrant Exercise Price and Number of Shares. The number
and kind of securities purchasable upon the exercise of this Warrant and the
Warrant Exercise Price shall be subject to adjustment from time to time upon the
occurrence of certain events, as follows:

          (a)  Reclassification. In case of any reclassification or change of
securities of the class issuable upon exercise of this Warrant (other than a
change in par value, or from par value to no par value, or from no par value to
par value), or as a result of a subdivision or combination or any
reorganization, merger or sale of all or substantially all of the assets of the
Company, the Company shall duly execute and deliver to the holder of this
Warrant a new warrant (in form and substance satisfactory to the Holder of this
Warrant), so that the Holder of this Warrant shall have the right to receive, at
a total purchase price not to exceed that payable upon the exercise of the
unexercised portion of this Warrant, and in lieu of the shares of Common Stock
theretofore issuable upon exercise of this Warrant, the kind and amount of
shares of stock, other securities, money and property receivable by a holder of
the number of shares then purchasable under this Warrant upon such
reclassification, change, reorganization, merger or sale of all or substantially
all of the assets of Company. Such new warrant shall provide for adjustments
that shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Section 5. The provisions of this subparagraph (a) shall
similarly apply to successive reclassifications or changes.

          (b)  Stock Splits or Combination of Shares. If the Company at any time
while this Warrant remains outstanding and unexpired shall subdivide or combine
its outstanding shares of capital stock into which this Warrant is exercisable,
the Warrant Exercise Price shall be proportionately decreased in the case of a
subdivision or increased in the case of a combination, effective at the close of
business on the date the subdivision or combination becomes effective. The
provisions of this subparagraph (b) shall similarly apply to successive stock
splits or combinations of outstanding shares.

          (c)  Stock Dividends and Other Distributions. If the Company at any
time while this Warrant is outstanding and unexpired shall (i) pay a dividend
with respect to Common Stock payable in Common Stock, then the Warrant Exercise
Price shall be adjusted, from and after the date of determination of
stockholders entitled to receive such dividend or distribution, to that price
determined by multiplying the Warrant Exercise Price in effect immediately prior
to such date of determination by a fraction (A) the numerator of which shall be
the total number of shares of Common Stock outstanding immediately prior to such
dividend or distribution, and (B) the denominator of which shall be the total
number of shares of

                                       3

<PAGE>   4

Common Stock outstanding immediately after such dividend or distribution; or
(ii) make any other distribution with respect to Common Stock (except any
distribution specifically provided for in Sections 5(a) and 5(b) above), then,
in each such case, provision shall be made by the Company such that the holder
of this Warrant shall receive upon exercise of this Warrant a proportionate
share of any such dividend or distribution as though it were the holder of
Common Stock as of the record date fixed for the determination of the
stockholders of the Company entitled to receive such dividend or distribution.
The provisions of this subparagraph (c) shall similarly apply to successive
stock dividends and other distributions by the Company.

     Upon each adjustment in the Warrant Exercise Price specified in Sections
5(a), (b) or (c) above, the number of shares of Common Stock purchasable
hereunder shall be adjusted, to the nearest whole share, to the product obtained
by multiplying the number of shares of Common Stock purchasable immediately
prior to such adjustment in the Warrant Exercise Price by a fraction, the
numerator of which shall be the Warrant Exercise Price immediately prior to such
adjustment and the denominator of which shall be the Warrant Exercise Price
immediately thereafter.

     6.   Notice of Adjustments. Whenever the Warrant Exercise Price or the
number of shares of Common Stock purchasable hereunder shall be adjusted
pursuant to Section 5 hereof, the Company shall notify the Holder of the
adjustment, the method by which such adjustment was calculated, and the Warrant
Exercise Price and the number of shares of Common Stock purchasable hereunder
after giving effect to such adjustment.

     7.   Fractional Shares. No fractional shares will be issued in connection
with any exercise hereunder, but in lieu of such fractional shares the Company
shall make a cash payment therefor based on the fair value of such shares on the
date of exercise as reasonably determined at the sole discretion of and in good
faith by the Company's Board of Directors.

     8.   Compliance with Securities Act of 1933. The Holder of this Warrant, by
acceptance hereof, agrees that this Warrant, and the shares of Common Stock to
be issued upon exercise hereof (and the securities issuable, directly or
indirectly, upon conversion of the Common Stock), are being acquired for
investment and that such holder will not offer, sell or otherwise dispose of
this Warrant, or any such shares except under circumstances which will not
result in a violation of the Securities Act or any applicable state securities
laws. Upon exercise of this Warrant, unless the shares being acquired are
registered under the Securities Act and any applicable state securities laws or
an exemption from such registration is available, the holder hereof shall
confirm in writing that the shares so purchased are being acquired for
investment and not with a view toward distribution or resale in violation of the
Securities Act and shall confirm such other matters related thereto as may be
reasonably requested by the Company. The shares of Common Stock issued upon
exercise of this Warrant (and the securities issuable, directly or indirectly,
upon conversion of the Common Stock) shall be stamped or imprinted with a legend
in substantially the following form (unless registered under the Securities Act
and any applicable state securities laws):

     "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
     INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
     AS AMENDED, (THE "ACT") OR ANY STATE SECURITIES LAWS. SUCH SHARES MAY NOT
     BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF SUCH REGISTRATION OR AN
     OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL
     THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT. COPIES OF THE
     AGREEMENTS COVERING THE PURCHASE OF THESE SHARES AND RESTRICTING

                                       4

<PAGE>   5

     THEIR TRANSFER MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE
     HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF NEW FOCUS
     SOLUTIONS, INC. AT THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY."

     9.   Transferability/Assignment. This Warrant and all rights hereunder may
be assigned by the Company in connection with a merger, reorganization,
reincorporation, sale of assets or similar event, but may only be transferred or
assigned, in whole or in part, by the Holder, subject to compliance with
applicable federal and state securities laws, (i) to any partner, member,
subsidiary or affiliate of the Holder; (ii) to any successors or assigns in
connection with any merger, sale of assets, reorganization, or similar event or
to an affiliate of such assignee or successor, without charge to the Holder and
without the requirement of an opinion of counsel, upon surrender of this Warrant
provided that (a) the transferee or assignee of such Warrant agrees in writing
for the benefit of the Company to comply with all terms and obligations of this
Warrant; and (b) that the Company is given written notice by the Holder within
five (5) business days of said transfer or assignment of this Warrant, stating
the name, address and relationship of said transferee or assignee; and (iii) to
any third party to which the Company agrees in writing, provided that the Holder
provides a legal opinion as to the compliance with applicable securities laws,
which is reasonably acceptable to the Company and its counsel.

     10.  Limited Rights as Stockholders; Information. No holder of this
Warrant, as such, prior to exercise thereof shall be entitled to vote or receive
dividends or be deemed the holder of shares, nor shall anything contained herein
be construed to confer upon the Holder of this Warrant, as such, any of the
rights of a stockholder of the Company or any right to vote for the election of
directors or upon any matter submitted to stockholders at any meeting thereof,
or to receive notice of meetings, or to receive dividends or subscription rights
or otherwise until this Warrant shall have been exercised and the shares of
Common Stock purchasable upon the exercise hereof shall have become deliverable,
as provided herein.

     11.  Representations and Warranties of the Company.

          (a)  Organization of the Company. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware; has all requisite power and authority to own or lease its properties
and to carry on its business as now conducted and proposed to be conducted; and
is duly qualified or licensed to do business as a foreign corporation in good
standing in each jurisdictions in which it conducts business and where the
failure to be so qualified or licensed would have a material adverse effect on
the business, assets, operations, results of operations or financial condition
of the Company.

          (b)  Authority. The Company has all requisite power and authority to
enter into and perform all of its obligations under this Warrant, to issue this
Warrant and to carry out the transactions contemplated hereby. The execution and
delivery by the Company of this Warrant and the performance of all obligations
of the Company hereunder, have been duly authorized by all necessary corporate
or stockholder action on the part of the Company and this Warrant is not
inconsistent with the Company's certificate of incorporation or bylaws. The
Warrant constitutes the legal, valid and binding obligation of the Company, and
is enforceable in accordance with its terms, except as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or
other laws of general application affecting enforcement of creditors' rights
generally and as may be limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies.

                                       5

<PAGE>   6

          (c)  Valid Reservation and Issuance of Warrant Shares. The Warrant
Shares have been duly and validly reserved and, when issued in accordance with
the provisions of this Warrant, will be validly issued, fully paid and
non-assessable, and will be free of any taxes, liens, charges or encumbrances of
any nature whatsoever; provided, however, that the Common Stock issuable
pursuant to this Warrant may be subject to restrictions on transfer under
applicable state and/or federal securities laws. The Company covenants and
agrees that at all times it shall reserve and keep available for the exercise of
this Warrant such number of authorized shares of Common Stock as are sufficient
to permit the exercise in full of this Warrant.

          (d)  Good Faith. The Company will not, by amendment of its certificate
of incorporation or bylaws, or through reorganization, consolidation, merger,
dissolution, issue or sale of securities, sale of assets or any other voluntary
action, willfully avoid or seek to avoid the observance or performance of any of
the terms hereof, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such actions as may be necessary or
appropriate in order to protect the rights of the Holder under the Warrants
against wrongful impairment. Without limiting the generality of the foregoing,
the Company: (i) will not set nor increase the par value of any Warrant Shares
above the amount payable therefor upon such exercise, and (ii) will take all
actions that are necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable Warrant Shares upon the exercise
of the Warrant.

          (e)  Listing. Prior to the issuance of any shares of Common Stock upon
exercise of this Warrant, the Company shall secure the listing of such shares of
Common Stock upon any securities exchange upon which the shares of Common Stock
are then listed.

     12.  Modification and Waiver; Effect of Amendment or Waiver. This Warrant
and any provision hereof may be changed, waived, discharged or terminated with
the written consent of the Company and the holders of a majority of shares of
the Common Stock issued or issuable upon exercise of the Warrant. Any waiver or
amendment effected in accordance with this Section 12 shall be binding upon each
holder of any Shares purchased under this Warrant at the time outstanding
(including securities into which such Shares have been converted), each future
holder of all such Shares, and the Company. The holder of this Warrant hereby
acknowledges that by operation of this Section 12, the holders of a majority of
the Shares purchased under this Warrant will have the right and power to
diminish or eliminate the rights of such holder under this Warrant.

     13.  Notices. Any notice, request, communication or other document required
or permitted to be given or delivered to the Holder hereof or the Company shall
be delivered, or shall be sent by certified or registered mail, postage prepaid,
to each such holder at its address as shown on the books of the Company or to
the Company at the address indicated therefor on the signature page of this
Warrant.

     14.  Binding Effect on Successors. The obligations of the Company relating
to the shares of Common Stock issuable upon the exercise or conversion of this
Warrant shall survive the exercise, conversion and termination of this Warrant
and all of the covenants and agreements of the Company pursuant to this Warrant
shall inure to the benefit of the successors and assigns of the Holder hereof.

     15.  Lost Warrants or Stock Certificates. The Company covenants to the
Holder hereof that, upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant or any
stock certificate and, in the case of any such loss, theft or destruction, upon
receipt of an indemnity reasonably satisfactory to the Company, or in the case
of any such mutilation upon surrender and cancellation of such Warrant or stock
certificate, the Company will make and deliver a new Warrant or stock
certificate, in lieu of the lost, stolen, destroyed or mutilated Warrant or
stock certificate.

                                       6

<PAGE>   7

     16.  Descriptive Headings. The descriptive headings of the several
paragraphs of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant. The language in this Warrant shall be
construed as to its fair meaning without regard to which party drafted this
Warrant.

     17.  Governing Law. This Warrant shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the laws of
the State of California.

     18.  Severability. The invalidity or unenforceability of any provision of
this Warrant in any jurisdiction shall not affect the validity or enforceability
of such provision in any other jurisdiction, or affect any other provision of
this Warrant, which shall remain in full force and effect.

     19.  Counterparts. This Warrant may be executed in counterparts, each of
which shall be an original, but all of which together shall constitute one
instrument.

                                       7

<PAGE>   8

     20.  Entire Agreement. This Warrant constitutes the entire agreement
between the parties pertaining to the subject matter contained in it and
supersedes all prior and contemporaneous agreements, representations, and
undertakings of the parties, whether oral or written, with respect to such
subject matter.

                                       NEW FOCUS, INC.,
                                       a Delaware corporation

                                       By:
                                          --------------------------------------
                                          Kenneth E. Westrick, President
                                       Address:  2630 Walsh Avenue
                                                 Santa Clara, California 95051

Accepted and Agreed:

KOMAG, INCORPORATED

-------------------------------
By: Edward H. Siegler, Vice President and
    Chief Financial Officer
Address:  1710 Automation Parkway
          San Jose, California  95131
Phone:    (408) 576-2000
Fax:      (408) 944-9234

                                       8

<PAGE>   9

                                    EXHIBIT A

                               NOTICE OF EXERCISE

To:  New Focus, Inc. (the "Company")

     1.   The undersigned hereby elects to purchase __________ shares of Common
Stock of the Company pursuant to the terms of the attached Warrant, and tenders
herewith payment of the purchase price of such shares in full.

     2.   Please issue a certificate or certificates representing said shares in
the name of the undersigned or in such other name or names as are specified
below:

                                     ----------------------------------------
                                     (Name)

                                     ----------------------------------------
                                    (Address)

                                     ----------------------------------------
                                    (City, State)

     3.   The undersigned represents that the aforesaid shares being acquired
for the account of the undersigned for investment and not with a view to, or for
resale in connection with, the distribution thereof and that the undersigned has
no present intention of distributing or reselling such shares, all except as in
compliance with applicable securities laws.

------------------------
       (Date)
                                       -----------------------------------------
                                                    (Signature)

                                       9

<PAGE>   10

                                    EXHIBIT B

                              NOTICE OF CONVERSION

TO:  NEW FOCUS, INC.

     (1)  The undersigned hereby elects to convert the attached Warrant to the
extent of __________ shares of Common Stock of New Focus, Inc. pursuant to the
terms of the attached Warrant.

     (2)  In connection with the purchase of the Common Stock (the
"Securities"), I, the Purchaser, represent to the Company the following:

          (a)  I am aware of the Company's business affairs and financial
condition, and have acquired sufficient information about the Company to reach
an informed and knowledgeable decision to acquire the Securities. I am
purchasing these Securities for my own account for investment purposes only and
not with a view to, or for the resale in connection with, any "distribution"
thereof for purposes of the Securities Act of 1933 ("Securities Act").

          (b)  I understand that the Securities have not been registered under
the Securities Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature of my
investment intent as expressed herein. In this connection, I understand that, in
the view of the Securities and Exchange Commission ("SEC"), the statutory basis
for such exemption may be unavailable if my representation was predicated solely
upon a present intention to hold these Securities for the minimum capital gains
period specified under tax statutes, for a deferred sale, for or until an
increase or decrease in the market price of the Securities, or for a period of
one year or any other fixed period in the future.

          (c)  I further understand that the Securities must be held
indefinitely unless subsequently registered under the Securities Act or unless
an exemption from registration is otherwise available. Moreover, I understand
that the Company is under no obligation to register the Securities. In addition,
I understand that the certificate evidencing the Securities will be imprinted
with a legend which prohibits the transfer of the Securities unless they are
registered or such registration is not required in the opinion of counsel for
the Company.

          (d)  I am aware of the provisions of Rule 144, promulgated under the
Securities Act, which, in substance, permits limited public resale of
"restricted securities" acquired, directly or indirectly, from the issuer
thereof (or from an affiliate of such issuer), in a non-public offering subject
to the satisfaction of certain conditions.

          (e)  I further understand that at the time I wish to sell the
Securities there may be no public market upon which to make such a sale.

          (f)  I further understand that in the event all of the requirements of
Rule 144 are not satisfied, registration under the Securities Act or some other
registration exemption will be required; and that, notwithstanding the fact that
Rule 144 is not exclusive, the Staff of the SEC has expressed its opinion that
persons proposing to sell private placement securities other than in a
registered offering and otherwise than pursuant to Rule 144 will have a
substantial burden of proof in establishing that an exemption from

                                       10

<PAGE>   11

registration is available for such offers or sales, and that such persons and
their respective brokers who participate in such transactions do so at their own
risk.

     (3)  Please issue a certificate or certificates representing said shares of
Common Stock in the name of the undersigned or in such other name as is
specified below:

Print Name:
            ----------------------------
Sign Name:
            ----------------------------
Date:
      ----------------------------------

                                       11<PAGE>   1

                                                                    EXHIBIT 10.8

                                  CONFIDENTIAL

                        AGREEMENT ON TERMS AND CONDITIONS
                   OF PURCHASE AND SALE OF OPTICAL COMPONENTS

        This Agreement ("Agreement") is made as of this 1st day of January, 2000
by and between Corning Incorporated, a New York Corporation, with an address at
Houghton Park, Corning, NY 14831 ("Corning") and New Focus, Inc. with an address
at 2630 Walsh Avenue, Santa Clara, CA 95051 ("Seller").

        WHEREAS, Corning and certain of its affiliated companies plan to place
with Seller from time to time during the terms of this Agreement specific orders
for the purchase of certain Optical Components ("Materials"); and

        WHEREAS, the parties wish to provide for the general terms and
conditions upon which such Materials purchase transactions shall be made; and

        WHEREAS, the parties may wish to subsequently provide for certain
services for processing or additional goods and services related to the
Materials;

        NOW THEREFORE, in consideration of the mutual covenants herein, Corning
and Seller hereby agree as follows:

1.   Term. The Term of this Agreement shall be from January 1, 2000 through
     December 31, 2000 If the parties are not in breach at the expiration of the
     Term, then they may mutually agree in writing to continue this Agreement,
     upon thirty (30) days' notice prior to the term expiration date, for an
     additional one (1) year term.

2.   Scope. During the Term of this Agreement, the terms and conditions
     specified by this Agreement shall apply to all purchases of the Materials
     by Corning from Seller. This Agreement is based upon an anticipated
     procurement of Materials described in Appendix 1. The estimated quantity of
     each item of Materials to be purchased hereunder is described in the same
     Appendix. That estimated quantity for each item is based on an allocation
     to Seller of a share (expressed as a percentage) of Corning's purchases
     from unaffiliated companies of that item. Corning anticipates that this
     share allocation to the Seller will not change during the term of this
     Agreement provided the Seller can meet its delivery and other obligations
     under this Agreement, and can continuously keep Corning competitive in the
     market place. Corning may conduct business reviews with the Seller on a
     periodic basis (monthly, quarterly, semi-annually) to review the overall
     market situation and discuss changes needed to maintain a competitive
     position in the communications industry.

3.   Releases. When Corning wishes to purchase Materials pursuant to this
     Agreement, it shall submit a written release form for a specific quantity
     to Seller. Seller shall ship Materials in accordance with the Corning
     release. Release forms may be delivered to Seller via fax, email, EDI, or
     U.S. mail.

4.   Schedule and Safety Stock. Corning's schedules depend upon timely delivery
     of Materials and therefore, time is of the essence in Corning's release
     forms issued to Seller hereunder. Seller agrees to make timely delivery in
     accordance with agreed

<PAGE>   2

     upon delivery dates. In order to assure Corning of continuity of supply,
     Seller will keep as a safety stock a four-week supply of finished goods of
     each Material exclusively for Corning for which Corning shall be
     responsible to purchase upon termination or Material discontinuance.
     Corning will authorize and update, on a quarterly basis, the safety stock
     level required by product that the Seller will have available to ship. If
     this level exceeds four (4) weeks of the demand, Corning shall only be
     obligated to purchase the authorized four (4) weeks supply upon termination
     or material discontinuance.

5.   Price(s) and Quantity. During the Term, the guaranteed prices, and
     estimated quantities of the Materials sold by Seller to Corning shall be as
     specified in Appendix I hereto.

6.   Delivery. Unless otherwise agreed, all price and delivery terms shall be on
     a delivered basis, broken out specifying price, insurance, and freight
     separately.

7.   Performance. Corning will provide a minimum of 3 weeks lead time on new
     purchase orders and 2 weeks lead time on schedule changes on forecasts.

     Corning will provide at least a three (3) month or greater rolling Forecast
     reflecting, by time period, shipping quantities required for each part
     number to support Corning's manufacturing schedules.

     Seller agrees to make timely deliveries in accordance with agreed upon
     delivery dates.

8.   Title. Title to and possession of all Materials shipped by Seller to
     Corning shall pass to Corning upon delivery of materials at the Corning
     location.

9.   Warranty/Specifications. At the time of delivery, Seller warrants that
     title to the Materials shall pass to Corning, free and clear of claims or
     liens of third parties. Seller also warrants that the Materials supplied by
     Seller to Corning hereunder shall meet the quality levels and specification
     levels defined in Appendix II. Materials shall be free of objects or other
     substances which, in the opinion of Corning, could render them until for
     intended use. If quality levels are not defined in Appendix II for a
     particular item, then Seller warrants that such Materials shall be
     merchantable, of best quality and free from defects in materials,
     processing or workmanship. This warranty shall survive any inspection by
     Corning.

     Any attempt by Seller to limit, disclaim, or restrict any such warranties
     or any remedies of Corning, by acknowledgment or otherwise, in accepting or
     performing this order, shall be null, void and ineffective without
     Corning's written consent.

     The initial warranty period of Materials shipped under the terms and
     conditions of this Agreement will be [*] from the date of shipment by
     Supplier. Any purchased device which is rejected for non-conformance to
     Corning's specification will be returned to Seller. Seller will, at
     Corning's option and without limiting any other rights of Corning, either:
     (1) credit Corning the value of device, (2) replace the device at no
     expense to Corning, or (3) repair the device at no cost to Corning.

10.  Software & Systems Warranty. Seller warrants that the quality and delivery
     of the Material will not be affected by any computer system and/or software
     related

[*] Certain information on this page has been omitted and
    filed separately with the Commission. Confidential treatment
    has been requested with respect to the omitted portions.
<PAGE>   3

     malfunction including, but not limited to, changes in dates, the passing of
     the calendar years 1999 or 2000, the next millennium and/or leap years.
     Should Seller fail to meet the requirements of this Agreement due to such
     computer system and/or software related malfunctions, Corning may (without
     prejudice to any other available remedy or cause of action) terminate this
     Agreement on five (5) days advance written notice to Seller. Additionally,
     Corning may terminate this Agreement if Seller, when requested, fails to
     give adequate assurance that it or any of its suppliers are Year 2000
     compliant.

11.  Inspection. Corning shall be entitled to inspect Materials upon delivery.
     Any prior inspection of Materials or sampling at the Seller's facility by
     Corning personnel will imply neither delivery or acceptance of such
     Materials by Corning.

12.  Plant Access. Seller will allow representatives of Corning and Corning's
     customers access to the facilities involved in performing this order for
     purposes of reviewing the status and progress of production and witnessing
     any test and inspections. Such access will not relieve Seller of any of its
     obligations.

13.  Inspection Reports. Seller shall furnish Corning with Inspection Reports
     for each shipment of Materials hereunder. Seller shall collect all relevant
     data for each Material prior to shipment. Such Certificates of Analysis
     shall be specific by traceable notations and Corning may reject items that
     do not meet the specifications in Appendix II. Inspection reports shall
     accompany all Materials shipped to Corning. Duplicate copies shall be filed
     and stored by Seller for a period of seven (7) years in case future
     reference is required by Corning.

14.  Invoicing and Payment. Seller shall invoice Corning in duplicate for
     Materials ordered by and delivered to Corning. Corning shall pay such
     invoices within forty-five (45) days after their receipt. Corning shall not
     be required to pay invoices for any Materials which do not meet applicable
     specifications or for quantities other than those it ordered.

15.  Process Changes. Seller shall notify Corning in writing and at least 30
     days in advance of any change in its manufacturing, assurance of supply,
     refining, feedstock, process or equipment that might affect Corning's
     results, its access to, or its use of the Materials purchased from Seller
     hereunder.

16.  Design Changes. In the event that Corning's requirements for Materials
     change, Corning and Seller shall meet in good faith to discuss possible
     changes in the design of Materials and may amend the specifications to
     comply with Corning's new requirements. If Seller has the technical
     capability to meet Corning's new requirements, Seller shall do so. Any
     price adjustments resulting from proposed design changes will be negotiated
     in godd faith by Seller and Corning.

17.  Patents. Seller agrees to indemnify, hold harmless and protect Corning
     against any costs (including reasonable attorneys' fees), liabilities, and
     judgments arising from any claim made by a third party against Corning that
     the materials supplied by Seller under this Agreement infringe patent or
     copyrights of such third party. Corning shall promptly notify Seller of any
     such claim, agrees to provide information and reasonable assistance, and
     give Seller sole authority to defend or settle such claim. Upon notice of
     an alleged infringement, Seller may, at its option and expense, (i) obtain
     for Coming the right to continue using the Materials, (ii) replace or
     modify the product so that is

<PAGE>   4
]
     becomes non-infringing or non-violating, (iii) substitute an equivalent
     non-infringing version of the Materials. In the event that none of the
     above options is reasonably available, either party may terminate this
     Agreement and Corning may return any and all Materials paid for and in
     Corning's inventory and obtain a refund from Seller of the price paid by
     Corning for such inventory. Termination hereunder does not discharge the
     obligations of Seller to defend Corning and pay costs or judgments.

     Notwithstanding the above provisions, Seller assumes no liability for any
     infringement claims based upon the use of the Materials either (i) in
     connection or in combination with equipment, devices, products or software
     not provided by Seller if such claims would not have resulted but for some
     combination or use, or (ii) for other than normal purposes.

     THE FOREGOING STATES EACH PARTY'S SOLE AND EXCLUSIVE REMEDY WITH RESPECT TO
     CLAIMS OF INFRINGEMENT OR VIOLATION OF THIRD PARTY PROPRIETARY RIGHTS OF
     ANY KIND.

18.  Excusable Failure or Delay (Force Majeure). Neither party shall be held
     responsible for the failure or delay in performance hereunder where such
     failure or delay is due to any act of God or of the public enemy, war,
     compliance with laws, governmental acts or regulations, fire, flood,
     epidemic, accident, unusually severe weather or other causes similar to the
     foregoing beyond their reasonable control. Any party whose performance is
     affected by such force majeure shall promptly give notice to the other
     party of the occurrence or circumstance upon which it intends to rely to
     excuse its performance. If the circumstances of force majeure affecting
     either party's performance hereunder delays performance for more than seven
     (7) days, then the other party may terminate this Agreement upon seven (7)
     days' advance written notice. In no event shall a failure or delay in
     performance attributable to the "Year 2000" or other computer system and/or
     software related malfunction be excusable under this paragraph or any other
     paragraph of this Agreement.

19.  [*] Both parties agree that during the term of this Agreement, periodic
     reviews of technical programs and innovations underway at each parties
     facilities will be held with the mutual goal of enhancing each parties
     understanding of the other's future technical initiatives. All such reviews
     would be subject to the same protection of intellectual property as
     described in the "Confidential Information" clause (Article #27) of this
     Agreement. In the event that Seller develops any new or "next generation"
     products like the Materials sold hereunder, but with improved or enhanced
     performance characteristics, then Seller will make those new products
     available to Corning on terms to be negotiated, but subject to the same [*]
     conditions set out above.

20.  Price Protection. If Corning submits substantial evidence in writing that
     another producer of goods has lawfully offered Corning goods of similar
     quality, in similar quantities and under like terms and conditions, at a
     delivered cost at least [*] lower than the delivered cost hereunder, then
     Corning will give Seller written notice of such lower offer.

[*] Certain information on this page has been omitted and
    filed separately with the Commission. Confidential treatment
    has been requested with respect to the omitted portions.
<PAGE>   5

     If Seller does not agree, in writing and within thirty (30) days of such
     notice, to reduce its price immediately to meet that lower offer, then, at
     the expiration of that thirty (30) day period, Corning's only purchase
     obligation hereunder will be to purchase Materials for which releases have
     already been issued by Corning and accepted by Seller. Upon the purchase by
     Corning of the Materials under those prior releases, Corning will be deemed
     to have satisfied any and all purchase commitments and obligations
     hereunder, and will not be subject to any penalty, price adjustment or
     other liability for failure to purchase any additional Materials from
     Seller.

21.  No Assignment. This Agreement shall not be assigned and is not assignable
     or delegable by either party without the written consent of the other,
     which shall not be unreasonably withheld.

22.  Compliance with Laws. Seller shall comply with all applicable federal,
     state and local laws and regulations in the manufacture, processing, sale
     and transport of the Materials to be delivered hereunder. In the event that
     Seller's work does not comply with any such laws, codes, and regulations,
     Seller shall correct any such noncompliance at its sole expense and
     indemnify and hold Corning harmless from any claims, costs, fines,
     penalties, expenses, liabilities or losses on account of any such
     noncompliance.

23.  Default and Termination. This Agreement and all rights granted hereunder
     may be terminated by either party: (a) in the event of a continuing default
     by the other party of any obligation hereunder, effective seven Corning
     business (7) days after written notice of such default is given to the
     defaulting party; or (b) immediately in the event that either a delivery
     that is more than fifteen (15) Corning business days late, or if any three
     (3) deliveries are more than seven (7) Corning business days late in any
     six-month period; or (c) immediately upon written notice in the event of
     bankruptcy, insolvency or any other financial condition creating reasonable
     doubt as to that party's ability to perform hereunder. If any instance
     under (a) or (b) occur, Corning must notify Seller in writing within (30)
     days of each event. In the event that Corning does not notify Seller,
     termination rights for that event lapse.

     No such termination shall affect or discharge any obligations of either
     party which arose prior to the effective date of termination with respect
     to warranties, indemnification, moneys owed or confidential information.

24.  Cancellation for Buyer's Convenience. Corning may cancel a firm Purchase
     Order at any time prior to delivery. In the event of such cancellation,
     Seller shall immediately cease to incur expense against the affected
     Purchase Order.

     If the purchase order covered standard product which is easily sellable to
     Seller's other customers, the Corning will have no liability to Seller for
     cancellation of the Purchase Order.

     For Purchase Orders for nonstandard products, Corning's liability in the
     event of cancellation shall be limited to the following for deliveries
     cancelled under such Purchase Order:

<PAGE>   6

        a. Actual cost incurred by Seller, up to and including the date of
           cancellation for material costs and direct labor costs; and

        b. Reasonable costs that Seller has reasonably committed to pay to its
           suppliers; and for the materials for undelivered quantities.

     Seller shall use reasonable endeavors to mitigate the amount of such
     charges. Seller will provide Corning with clear documentation of all costs
     and charges which Corning is liable under this provision. In no event will
     Corning be liable for cancellation charges in excess of the contract value
     of the Materials cancelled. Upon payment of such cancellation charges by
     Corning, Seller shall deliver to Corning, in accordance with the delivery
     terms of this Agreement, all work in progress and inventory for which
     Corning has made payment.

25.  Obsolescent. Corning reserves the right to reduce estimated quantities (but
     maintaining share percentage) or substitute new products for those
     referenced in Appendix I, in the event that new products offering a
     superior technological or economic advantage become available during the
     term of this Agreement. Seller shall be given a reasonable amount of time
     to match such new products.

26.  Waiver. The failure of Corning to insist in any one or more instances upon
     the full performance of any of the terms, covenants or conditions of this
     order or to exercise any rights it may have hereunder shall not be
     construed as a waiver of any legal rights it may have with respect to such
     nonperformance or be construed as Corning's condoning further
     nonperformance of such terms, covenants or conditions.

27.  Confidential Information. The nondisclosure agreement entered into by the
     Parties on March 15, 1999 will govern the use of confidential information
     by Seller. The term of the nondisclosure agreement will be the term of this
     Agreement. This Agreement and its terms are subject to that nondisclosure
     agreement.

28.  Promotion Limitation: Seller agrees that it will not use Corning's name
     whether by including reference to Corning in any list of customers
     advertising that its services or products are used by Corning or otherwise,
     without written authorization by Corning's authorized representative.

29.  Liability. To the fullest extent permitted by law, Seller hereby
     indemnifies and agrees to hold harmless Corning, its affiliates,
     subsidiaries, agents, employees, directors, or representatives from and
     against all claims, damages, losses and expenses, including but not limited
     to attorneys' fees, arising out of or resulting from Seller's supply of
     Materials or performance of these services.

30.  Insurance. If Seller performs any services for Corning on Corning's
     premises, Seller shall, at any time(s) upon request, furnish Corning with
     an insurance certificate(s) from its insurance carrier(s) naming Corning as
     an additional insured, evidencing the existence of insurance coverage of
     the following kinds in at least the following amounts:

        A. Workers' compensation insurance as required by law and Employer's
           liability insurance with limits not less than One Million Dollars
           ($1,000,000).

<PAGE>   7

        B. Comprehensive public liability insurance for personal injury
           (including death) and property damage with limits of not less than
           Five Million Dollars ($5,000,000) for personal injury and property
           damage, including coverage for owned and nonowned automobiles and
           Seller's contractual obligations.

        C. Umbrella liability insurance with limits not less than Five Million
           Dollars ($5,000,000).

31.  Choice of Law and Forum. This Agreement shall be governed by, interpreted
     and construed and performance hereunder shall be determined in accordance
     with the law of the State of New York, without regard to its conflicts of
     law principles. In the event of disputes or claims relating to this
     Agreement, both parties agree to seek an amicable settlement prior to
     commencing any litigation. In the event of litigation, any action shall be
     venued in either the Supreme Court of the State of New York, Steuben
     County, or in the United States District Court, Western District of New
     York.

32.  Conflict of Terms. The terms and conditions of Corning stated on this
     Agreement shall govern in the event of any conflict with any terms proposed
     by Seller, and are not subject to change by reason of any written or oral
     statements by Seller or by any terms stated in Seller's acknowledgement of
     this order, unless such conflicting or additional terms are accepted in a
     writing making reference to this Agreement and signed by Corning. Shipment
     of goods or materials, or performance of services pursuant to this order
     shall be deemed to be an unqualified acceptance of the terms and conditions
     contained herein.

33.  Counterparts. This Agreement may be executed simultaneously in two or more
     counterparts, each of which shall be deemed an original, but all of which
     together shall constitute one and the same instrument.

34.  Notices, Entire Agreement and Change Orders. All notices delivered or
     demands given by either party under this Agreement shall be delivered in
     person, or forwarded by U.S. Mail, postage prepaid, or they may be faxed
     properly addressed to the authorized representatives of the party. This
     Agreement constitutes the entire agreement between Corning and Seller with
     respect to the Work, and supersedes all prior and contemporaneous
     negotiations, agreements, representations, understandings and commitments.
     No change, modification or extension of this Agreement shall be effective
     unless it is made in writing, makes specific reference to this Agreement
     and signed by duly authorized representatives of Corning and Seller. Such
     approval shall not be unreasonably withheld. For the purposes of this
     Agreement, the following persons are the authorized representatives of
     Buyer and Corning:

     For Corning:   Kathryn M. Murphy, Division Vice President,
                    Materials Management

     For Seller:    Paul G. Smith, Vice President and General Manager

35.  Ownership of Tools and Intellectual Property. Corning shall have title to
     and the right of immediate possession of any tools, equipment or prototypes
     furnished or paid for by Corning, and if and when any such Corning property
     is in the possession of Seller,

<PAGE>   8

     Seller shall not use such property for any work other than that of Corning
     and shall maintain such property in good and usable condition at no further
     cost to Corning.

     Pursuant to the terms of the confidentiality agreement between Corning and
     Seller, Seller will not use any confidential information of Coming (as
     defined in that agreement) for any purpose other than the supply of
     Materials to Corning. Accordingly, if Seller uses any such confidential
     information of Corning to design or make any Materials, then those
     Materials will be sold only to Corning and Seller will not sell or offer to
     sell those Materials to any third party without the prior written consent
     of Corning.

     IN WITNESS WHEREOF, Seller and Corning have executed this Agreement by
     their respective duly authorized representatives as of the date first above
     written.

     SUPPLIER NAME                          CORNING INCORPORATED

     By: /s/ PAUL SMITH                     By: /s/ KATHRYN M. MURPHY
        --------------------------------        --------------------------------
                                                    Kathryn M. Murphy

     Title: VP/GM Telecom Division          Title: Division Vice President,
                                                   Materials Management

     Date: 2/18/00                          Date: 2/14/00

<PAGE>   9

                                   APPENDIX I

                              Quantity and Pricing

1.   Quantity. Corning will purchase from New Focus a percentage (listed below
     in Share) of its external requirements of the Materials during the term of
     this Agreement. The forecasted volumes below are an estimate to be used for
     the Seller's information purposes only, and is not intended to bind or
     obligate Corning to purchase said amount.

2.   Pricing.

<TABLE>
<CAPTION>
     Product                 Share      Est Volume    Price (1/1-6/30)*    Price (7/1-12/31)*
     -----------------       -----      ----------    -----------------    ------------------
<S>                          <C>        <C>           <C>                  <C>
     [*]
</TABLE>

     All pricing takes effect 1/1/00. Any current purchase orders will
     cancelled 12/30/99 and new purchase orders placed at the new pricing.

[*] Certain information on this page has been omitted and
    filed separately with the Commission. Confidential treatment
    has been requested with respect to the omitted portions.
<PAGE>   10

                                   APPENDIX II

                             PURCHASE SPECIFICATION

<TABLE>
<CAPTION>
                                                             CORNING SPEC
CORNING PART NUMBER            DESCRIPTION                   NUMBER/DATE
-------------------            -----------                   ------------
<S>                            <C>                           <C>
[*]
</TABLE>

     This product shall be free from all other material or objects which, in the
     opinion of Corning Incorporated, could render it unfit for its intended
     use.

     All measurements made to determine compliance with this specification shall
     be done in accordance with analytical procedures approved by Corning
     Incorporated.

[*] Certain information on this page has been omitted and
    filed separately with the Commission. Confidential treatment
    has been requested with respect to the omitted portions.

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