exv10w60



 





Exhibit 10.60




PATENT SECURITY AGREEMENT




     Patent Security Agreement, dated as of November 30, 2007, by Smith & Wesson Corp., a Delaware
corporation, Thompson/Center Arms Company, Inc., a New Hampshire corporation, and Bear Lake
Holdings, Inc., a Delaware corporation (collectively, the “Pledgors”), in favor of Toronto
Dominion (Texas) LLC, in its capacity as Administrative Agent pursuant to the Credit Agreement (in
such capacity, the “Administrative Agent”).



WITNESSETH:




     WHEREAS, the Pledgors are party to a Pledge and Security Agreement, dated as of
November 30, 2007 (as amended, restated, supplemented or otherwise modified from time to time, the
“Security Agreement”) in favor of the Administrative Agent pursuant to which the Pledgors
are required to execute and deliver this Patent Security Agreement;



     NOW, THEREFORE, in consideration of the premises and to induce the Administrative
Agent, for the benefit of the Secured Parties, to enter into the Credit Agreement, the Pledgors
hereby agree with the Administrative Agent as follows:



     SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the
Security Agreement and used herein have the meaning given to them in the Security Agreement.



     SECTION 2. Confirmation of Grant of Security Interest in Patent Collateral. The
Pledgors hereby confirm the grant to the Administrative Agent for the benefit of the Secured
Parties in the Security Agreement of a lien on and security interest in and to all of their right,
title and interest in, to and under all the following Pledged Collateral of the Pledgors:




     (a) Patents of the Pledgors, including but not limited to the Patents listed on
Schedule A attached hereto, in each case whether now owned or existing or hereafter
acquired or arising and wherever located; and




     (b) all Proceeds of any and all of the foregoing (other than Excluded Property).



     SECTION 3. Security Agreement. The Pledgors hereby acknowledge and affirm that the
rights and remedies of the Administrative Agent with respect to the security interest in the
Patents confirmed hereby are more fully set forth in the Security Agreement, the terms and
provisions of which are incorporated by reference herein as if fully set forth herein. In the
event that any provision of this Patent Security Agreement is deemed to conflict with the Security
Agreement, the provisions of the Security Agreement shall control unless the Administrative Agent
shall otherwise determine.



     SECTION 4. Termination. Upon the payment in full of the Obligations (other than
contingent indemnification obligations) and automatic termination of the Security Agreement, the
Administrative Agent shall execute, acknowledge, and deliver to the Pledgors an instrument in
writing in recordable form evidencing the release of the collateral pledge, grant, assignment,



 









 







lien and security interest in the Patents under the Security Agreement and this Patent
Security Agreement.



     SECTION 5. Counterparts. This Patent Security Agreement may be executed in any number
of counterparts, all of which shall constitute one and the same instrument, and any party hereto
may execute this Patent Security Agreement by signing and delivering one or more counterparts.



[Signature Page Follows]




-2-









 









[Signature Page to Smith & Wesson Corp. Patent Security Agreement]




     IN WITNESS WHEREOF, the Pledgors have caused this Patent Security Agreement to be
executed and delivered by its duly authorized offer as of the date first set forth above.



	 	 	 	 	 
	 	

Very truly yours,



SMITH & WESSON CORP.

 	 
	 	By:  	/s/ John A. Kelly 	 
	 	 	Name:  	John A. Kelly 	 
	 	 	Title:  	Vice President 	 
	 
	 	THOMPSON/CENTER ARMS COMPANY, INC.

 	 
	 	By:  	/s/ John A. Kelly 	 
	 	 	Name:  	John A. Kelly 	 
	 	 	Title:  	Vice President 	 
	 
	 	

BEAR LAKE HOLDINGS, INC.

 	 
	 	By:  	/s/ John A. Kelly 	 
	 	 	Name:  	John A. Kelly 	 
	 	 	Title:  	Vice President 	 
	 



	 	 	 	 	 
	Accepted and Agreed:



TORONTO DOMINION (TEXAS) LLC,

as Administrative Agent

 	 	 
	By:  	/s/ Ian Murray 	 	 
	 	Name:  	Ian Murray 	 	 
	 	Title:  	Authorized Signatory 	 	 
	 




 









 








SCHEDULE A

PATENTS




Registered Patents




	 	 	 	 	 	 	 	 	 
	 	 	 	 	REGISTRATION	 	REGISTRATION
	HOLDER	 	PATENT	 	NUMBER	 	DATE
	Smith & Wesson Corp.
	 	Handgun

	 	 	D359098	 	 	6/6/95
	Smith & Wesson Corp.
	 	Rear sight for a handgun

	 	 	D352087	 	 	11/1/94
	Smith & Wesson Corp.
	 	Pistol grip

	 	 	D325953	 	 	5/5/92
	Smith & Wesson Corp.
	 	Handgun

	 	 	D377513	 	 	1/21/97
	Smith & Wesson Corp.
	 	Two-piece trigger

	 	 	D371591	 	 	7/9/96
	Smith & Wesson Corp.
	 	Magazine butt plate

	 	 	D362044	 	 	9/5/95
	Smith & Wesson Corp.
	 	Reversible magazine catch mechanism for handguns

	 	 	4899476	 	 	2/13/90
	Smith & Wesson Corp.
	 	Retainer for revolver yoke stud

	 	 	4934081	 	 	6/19/90
	Smith & Wesson Corp.
	 	Integral grip construction for handguns

	 	 	4936036	 	 	6/26/90
	Smith & Wesson Corp.
	 	Decocking mechanism for a semi-automatic firearm

	 	 	5086579	 	 	2/1//92
	Smith & Wesson Corp.
	 	Fail safe stop for a drill press control device

	 	 	5127775	 	 	7/7/92
	Smith & Wesson Corp.
	 	Hinged handcuffs

	 	 	5205142	 	 	4/27/93
	Smith & Wesson Corp.
	 	Square extractor for the removal of cartridge
cases from the chambers of a revolver

	 	 	5218148	 	 	6/8/93
	Smith & Wesson Corp.
	 	Fire control mechanism for semi-automatic pistols

	 	 	5386659	 	 	2/7/95
	Smith & Wesson Corp.
	 	Safety trigger for a firearm

	 	 	5402593	 	 	4/4/95
	Smith & Wesson Corp.
	 	Butt plate assembly for handgun magazines

	 	 	5438783	 	 	8/8/95
	Smith & Wesson Corp.
	 	Magazine safety

	 	 	5438784	 	 	8/8/95
	Smith & Wesson Corp.
	 	Magazine cartridge guide

	 	 	5615505	 	 	4/1/97
	Smith & Wesson Corp.
	 	Semi-automatic pistol

	 	 	5717156	 	 	2/10/98
	Smith & Wesson Corp.
	 	Firearm having chamber status indicator and
firearm retrofitting method

	 	 	6161322	 	 	12/19/00
	Smith & Wesson Corp.
	 	Biometrically activated lock and enablement system

	 	 	6260300	 	 	7/17/01
	Smith & Wesson Corp.
	 	Firearm frame and barrel assembly, method of
assembling and assembly tool

	 	 	6266908	 	 	7/31/01
	Smith & Wesson Corp.
	 	Process for treating metal workpieces

	 	 	6267825	 	 	7/31/01






 









 






	 	 	 	 	 	 	 	 	 
	 	 	 	 	REGISTRATION	 	REGISTRATION
	HOLDER	 	PATENT	 	NUMBER	 	DATE
	Smith & Wesson Corp.
	 	Firing control system for non-impact fired
ammunition

	 	 	6286241	 	 	9/11/01
	Smith & Wesson Corp.
	 	A security apparatus for a firearm

	 	 	6286242	 	 	9/11/01
	Smith & Wesson Corp.
	 	Firearm having an intelligent controller

	 	 	6321478	 	 	11/27/01
	Smith & Wesson Corp.
	 	Blast shield apparatus and method of assembly for
a revolver

	 	 	6330761	 	 	12/18/01
	Smith & Wesson Corp.
	 	Backstrap module for a firearm

	 	 	6345461	 	 	2/12/02
	Smith & Wesson Corp.
	 	Firing mechanism for use in a firearm having an
electronic firing probe for discharging
non-impact fired ammunition

	 	 	6345462	 	 	2/12/02
	Smith & Wesson Corp.
	 	Authorization module for activating a firearm and
method of using same

	 	 	6357156	 	 	3/19/02
	Smith & Wesson Corp.
	 	Firing control system for non-impact fired
ammunition

	 	 	6357157	 	 	3/19/02
	Smith & Wesson Corp.
	 	Security apparatus for authorizing use of a
non-impact firearm

	 	 	6360468	 	 	3/26/02
	Smith & Wesson Corp.
	 	An electronically fired revolver utilizing
percussively actuated cartridges

	 	 	6360469	 	 	3/26/02
	Smith & Wesson Corp.
	 	Firing probe for use in a non-impact firearm

	 	 	6360470	 	 	3/26/02
	Smith & Wesson Corp.
	 	Ammunition magazine for use in a firearm adapted
for firing non-impact detonated cartridges

	 	 	6370806	 	 	4/16/02
	Smith & Wesson Corp.
	 	Firing pin block for pistol

	 	 	6374526	 	 	4/23/02
	Smith & Wesson Corp.
	 	A modular firearm and method for making the same

	 	 	6393751	 	 	5/28/02
	Smith & Wesson Corp.
	 	Electric firing probe for detonating
electrically-fired ammunition in a firearm

	 	 	6397508	 	 	6/4/02
	Smith & Wesson Corp.
	 	Slide assembly for a firearm

	 	 	6405473	 	 	6/18/02
	Smith & Wesson Corp.
	 	Electronic sight assembly for use with a firearm

	 	 	6412208	 	 	7/2/02
	Smith & Wesson Corp.
	 	A security apparatus for use in a firearm

	 	 	6421944	 	 	7/23/02
	Smith & Wesson Corp.
	 	A trigger assembly for use in a firearm having a
security apparatus

	 	 	6425199	 	 	7/30/02






 









 






	 	 	 	 	 	 	 	 	 
	 	 	 	 	REGISTRATION	 	REGISTRATION
	HOLDER	 	PATENT	 	NUMBER	 	DATE
	Smith & Wesson Corp.
	 	Method of assembling a firearm having a security
apparatus

	 	 	6430860	 	 	8/13/02
	Smith & Wesson Corp.
	 	Backstrap module configured to receive components
and circuitry of a firearm capable of firing
non-impact fired ammunition

	 	 	6434875	 	 	8/20/02
	Smith & Wesson Corp.
	 	Magazine safety

	 	 	6457271	 	 	10/1/02
	Smith & Wesson Corp.
	 	Firearm having chamber status indicator and
firearm retrofitting method

	 	 	6493977	 	 	12/17/02
	Smith & Wesson Corp.
	 	Magazine safety

	 	 	6519887	 	 	2/18/03
	Smith & Wesson Corp.
	 	Revolver-safety lock mechanism

	 	 	6523294	 	 	2/25/03
	Smith & Wesson Corp.
	 	Backstrap assembly for an electronic firearm

	 	 	6523296	 	 	2/25/03
	Smith & Wesson Corp.
	 	Scandium containing aluminum alloy firearm

	 	 	6557289	 	 	5/6/03
	Smith & Wesson Corp.
	 	Electronically fired revolver utilizing a latch
mechanism between trigger and hammer to implement
firing

	 	 	6571502	 	 	6/3/03
	Smith & Wesson Corp.
	 	Firearm frame and barrel assembly

	 	 	6574898	 	 	6/10/03
	Smith & Wesson Corp.
	 	Firearm having chamber status indicator and
firearm retrofitting method

	 	 	6622411	 	 	9/23/03
	Smith & Wesson Corp.
	 	Scandium containing aluminum alloy firearm

	 	 	6711819	 	 	3/30/04
	Smith & Wesson Corp.
	 	Firearm including biometric skin sensor

	 	 	6711843	 	 	3/30/04
	Smith & Wesson Corp.
	 	Apparatus and method for removing the slide of a
semi-automatic pistol

	 	 	6865979	 	 	3/15/05
	Smith & Wesson Corp.
	 	Compact locking block for semi-automatic pistols

	 	 	6993864	 	 	2/7/06
	Smith & Wesson Corp.
	 	Cylinder retaining mechanism

	 	 	7059075	 	 	6/13/06
	Smith & Wesson Corp.
	 	Magazine and slide lever assembly for a
semi-automatic firearm

	 	 	7069683	 	 	7/4/06
	Smith & Wesson Corp.
	 	Apparatus and method for removing the slide of a
semi-automatic pistol

	 	 	7140141	 	 	11/28/06
	Smith & Wesson Corp.
	 	Double locking handcuffs

	 	 	7251964	 	 	08/07/07
	Smith & Wesson Corp.
	 	Firing mechanism for semi-automatic pistols

	 	 	7194833	 	 	03/27/07
	Smith & Wesson Corp.
	 	Rimfire extractor for a revolver

	 	 	7263795	 	 	09/04/07






 









 






	 	 	 	 	 	 	 	 	 
	 	 	 	 	REGISTRATION	 	REGISTRATION
	HOLDER	 	PATENT	 	NUMBER	 	DATE
	Smith & Wesson Corp.
	 	Revolver for firing high velocity ammunition

	 	 	7254913	 	 	08/14/07
	Smith & Wesson Corp.
	 	Blast Shield Apparatus and Method of Assembly for
a Revolver

	 	 	6330761	 	 	12/18/01
	Bear Lake Holdings, Inc.
	 	Hammer Block Device

	 	 	4854065	 	 	08/08/89
	Bear Lake Holdings, Inc.
	 	Fire Control Mechanism for a Firearm

	 	 	5615507	 	 	04/01/97
	Bear Lake Holdings, Inc.
	 	Barrel for Muzzle Loading Firearm

	 	 	5639981	 	 	06/17/97
	Bear Lake Holdings, Inc.
	 	Fire Control System for Firearms

	 	 	5680722	 	 	10/28/97
	Bear Lake Holdings, Inc.
	 	Barrel for Muzzle Loading Firearm

	 	 	5782030	 	 	07/21/98
	Bear Lake Holdings, Inc.
	 	Ignition Assembly for Muzzle Loading Firearm

	 	 	5907920	 	 	06/01/99
	Bear Lake Holdings, Inc.
	 	Breech Plug for Muzzle Loading Firearm

	 	 	6219951	 	 	04/24/01
	Bear Lake Holdings, Inc.
	 	Breech Plug for Muzzle Loading Firearm

	 	 	6532692	 	 	03/18/03
	Bear Lake Holdings, Inc.
	 	Lever-Operated Breechlock for Muzzle-Loading
Firearm

	 	 	6604311	 	 	08/12/03
	Thompson Center Arms
Company, Inc.
	 	Ramrod for a Muzzle-Loading Firearm

	 	 	6145235	 	 	11/14/00
	Thompson Center Arms
Company, Inc.
	 	Firearm Hammer with Adjustable Spur

	 	 	7140138	 	 	11/28/06
	Thompson Center Arms
Company, Inc.
	 	Muzzle Loading Rifle with Movable Extractor

	 	 	7257917	 	 	08/21/07






 









 






Patent Applications




	 	 	 	 	 	 	 	 	 
	 	 	 	 	APPLICATION	 	APPLICATION
	HOLDER	 	PATENT	 	NUMBER	 	DATE
	Smith & Wesson Corp.
	 	High velocity ammunition system and firearm

	 	 	20060011092	 	 	5/25/05
	Smith & Wesson Corp.
	 	Firearm frame with configurable grip

	 	 	20060150467	 	 	12/22/05
	Smith & Wesson Corp.
	 	Firearm with modular sear and trigger mechanism
housings

	 	 	20060156607	 	 	12/22/05
	Smith & Wesson Corp.
	 	Positive striker lock safety for use with a firearm

	 	 	20060162220	 	 	12/22/05
	Smith & Wesson Corp.
	 	Fire control mechanism for a firearm

	 	 	20060248772	 	 	12/22/05
	Smith & Wesson Corp.
	 	Locking apparatus for a firearm

	 	 	20060191182	 	 	12/22/05
	Smith & Wesson Corp.
	 	Wire brushing for use with a firearm barrel

	 	 	2006085508	 	 	12/22/05
	Smith & Wesson Corp.
	 	Apparatus and method for firearm takedown

	 	 	20060249014	 	 	12/22/05
	Smith & Wesson Corp.
	 	Firearm extractor mechanism

	 	 	20060185212	 	 	12/22/05
	Smith & Wesson Corp.
	 	Objective lens assembly for telescopic device

	 	Serial No.
09/902,807
	 	7/12/01
	Smith & Wesson Corp.
	 	Compensation system for a firearm

	 	Serial No.
10/773,500
	 	2/6/04
	Thompson Center
Arms Company, Inc.
	 	Muzzle Loading Rifle with Removable Breech Plug

	 	 	20070137084	 	 	06/21/07
	Thompson Center
Arms Company, Inc.
	 	Muzzle Loading Rifle with Breech Plug Having Gas
Seal Facility

	 	 	20070163162	 	 	07/19/07
	Thompson Center
Arms Company, Inc.
	 	Rifle Stock with Recoil Absorption Facility

	 	 	20070175077	 	 	08/02/07
	Thompson Center
Arms Company, Inc.
	 	Lubricant Distribution Facility for Threaded Rifle
Breech

	 	Serial No.
11/505,212
	 	08/15/06
	Thompson Center
Arms Company, Inc.
	 	Muzzle Loading Rifle with Removable Breech Plug

	 	Serial No.
11/649,458
	 	01/03/07