Document:

<PAGE>
Exhibit 10.29

                FIRST MODIFICATION TO LOAN AND SECURITY AGREEMENT
                        AND REVOLVING LINE OF CREDIT NOTE

         Now comes Smith & Wesson Corp., a Delaware corporation having a
principal place of business at 2100 Roosevelt Avenue, Springfield, Massachusetts
(the "Borrower") and Banknorth, N.A. f/k/a First Massachusetts Bank, N.A., a
national banking association organized under the laws of the United States of
America, having a principal place of business at 1441 Main Street, Springfield,
Massachusetts (the "Lender").

         WHEREAS, Borrower and Lender have heretofore executed a Loan and
Security Agreement dated July 12, 2001 (the "Loan Agreement").

         WHEREAS, pursuant to the Loan Agreement, the Borrower executed inter
alia, a Revolving Line of Credit Note on July 12, 2001, in the original
principal amount of Ten Million and 00/100 Dollars ($10,000,000.00) (the
"Note").

         WHEREAS, Borrower and its parent corporation, Smith & Wesson Holding
Corporation, have entered into a related transaction of even date herewith
whereby Lender has loaned Smith & Wesson Holding Corporation, Fifteen Million
and 00/100 Dollars ($15,000,000.00) and as part of a coordinated transaction,
Borrower has agreed to guaranty all obligations of Smith & Wesson Holding
Corporation and reduce the Maximum Amount of availability pursuant to the Note
to Eight Million and 00/100 Dollars ($8,000,000.00), which Lender has agreed to
do, subject to the execution of these presents.

         NOW THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the receipt whereof is hereby acknowledged, the
parties agree as follows:

         1. The principal balance due under the Note is $6,227,025.46, as of
March 26, 2002, in the form of Letters of Credit issued and ACH credit exposure.

         2. The Borrower as of the date hereof, acknowledges its undisputed and
liquidated liability to the Lender under the Loan Agreement and Note, without
any counterclaims, rights of set-off and other defenses, without exception, the
terms and conditions of which shall remain in full force and effect, except to
the limited extent of the modification contemplated hereby, with this
Modification Agreement being incorporated by reference into the Loan Agreement
and the Note, as if restated therein.

         3. That all terms, conditions and covenants of the Loan Agreement, Note
and other Loan Documents and instruments heretofore executed by the Borrower
concerning its financing transactions, shall remain in full force and effect in
their original tenor, except as provided for hereby and not otherwise.

         4. That Borrower represents, warrants and confirms that all
"Collateral" pledged, secured or mortgaged in connection with its Obligations to
Lender is, and shall continue to remain as collateral security for the Note, as
modified hereby, as well as any and all other "Future Advances" and its
unlimited guaranty of all Obligations of Smith & Wesson Holding Corporation.

                                       1
<PAGE>
THE MODIFICATIONS

         5. That the definition of "Available Amount" in the Loan Agreement is
deleted and replaced with the following:

                  " `Available Amount' means up to an aggregate outstanding
                  principal amount not to exceed the lesser of: (i) Eight
                  Million and 00/100 Dollars ($8,000,000.00) (the "Maximum
                  Amount"); or (ii) the aggregate market value of the
                  "Collateral" (a) discounted by the following percentages and
                  (b) reduced by the amount of any margin or other liability due
                  from Borrower to the broker or other securities intermediary
                  holding the Collateral:

<TABLE>
<CAPTION>
Type of Security                             Discount Factor
----------------                             ---------------
<S>                                          <C>
Money Market Account                              0%

Annuities                                         0%

United States Government Securities              10%

Corporate Securities and Commercial Paper        30%

Corporate and Municipal Bonds                    20%
</TABLE>

                  Provided, however, the Available Amount shall be reduced by
                  the aggregate of issued Letters of Credit and ACH Credit
                  Risk."

         6. That the definition "Maximum Amount" is deleted in its entirety and
replaced with the following:

         " `Maximum Amount' means Eight Million and 00/100 Dollars
($8,000,000.00)."

         7. That the phrase "Prime Loan" in the Loan Agreement is deleted and
replaced with the phrase "Base Loan" throughout the Loan Agreement.

         8. That the phrase "Prime Rate" in the Loan Agreement is deleted and
replaced with the phrase "Base Rate" throughout the Loan Agreement.

         9. That Section 2.01 in the Loan Agreement is deleted in its entirety
and replaced with the following:

                                       2
<PAGE>
         "2.01 REVOLVING LINE OF CREDIT FACILITY

         An Eight Million and 00/100 Dollar ($8,000,000.00) discretionary Demand
Revolving Line of Credit (the "Revolving Line of Credit") will be made
available, repayable ON DEMAND, at any time, with Loans made from time-to-time
during the period from the date of this Agreement up to, but not including, the
date when demand is made for repayment of the Revolving Line of Credit. Loans
may be in any amount within the limits of the Available Amount, and within such
limits, the Borrower may borrow and repay pursuant to Section 3.02 and re-borrow
under this Section 2.01 on such terms and conditions as are contained herein.
Each Loan shall be made and maintained at the Lender's Lending office for such
Loan. At all times, advances against the Revolving Line of Credit shall remain
solely within the discretion of the Lender. The Borrower shall pay interest to
the Lender, which shall be calculated daily and payable monthly, in arrears, on
the outstanding and unpaid principal amount of the Revolving Line of Credit
Loans made under this Agreement during the preceding month at a rate per annum
equal to the Base Rate."

         10. That Section 2A.01 of the Loan Agreement shall be deleted in its
entirety and replaced with the following:

         "2A.01 Lender agrees, subject to the terms and conditions hereinafter
         set forth, to incur Letter of Credit Obligations with respect to the
         issuance of Letters of Credit issued on terms acceptable to Lender and
         supporting obligations of Borrower incurred in the ordinary course of
         Borrower's business, in order to support the payment of Borrower's
         inventory purchase obligations, insurance premiums, or utility or other
         operating expenses and obligations, as Borrower shall request by
         written notice to Lender that is received by Lender not less than two
         (2) Business Days prior to the requested date of issuance of any such
         Letter of Credit; provided, that: (a) that the aggregate amount of all
         Letter of Credit Obligations at any one time outstanding (whether or
         not then due and payable) shall not exceed Seven Million Five Hundred
         Eighty Thousand and 00/100 Dollars ($7,580,000.00); and (b) Lender
         shall be under no obligation to incur any Letter of Credit Obligation
         if after giving effect to the incurrence of such Letter of Credit
         Obligation, the Available Amount would be less than zero."

         11. That Section 2.06 of the Loan Agreement is deleted in its entirety
and replaced with the following:

         "2.06 USE OF PROCEEDS

         The proceeds of the Revolving Line of Credit Facility may be used by
         the Borrower (i) to support standby and commercial letters of credit,
         (ii) allocated against an ACH Credit Risk Exposure of $420,000 (20% of
         $2,100, 000 ACH Batch Limit) and (iii) for working capital. The
         Revolving Line of Credit will be reduced by $420,000 and held by the
         Lender as a reserve for ACH batch limit transactions.

         The Borrower will not, directly or indirectly, use any part of such
         proceeds for the purpose of purchasing or carrying any margin stock
         within the meaning of Regulation U of the Board of Governors of the
         Federal Reserve System or to extend credit to any Person for the
         purpose of purchasing or carrying any such margin stock, or for any

                                        3
<PAGE>
         purpose which violates, or is inconsistent with, Regulation X of such
         Board of Governors."

         12. That Section 4.00 of the Loan Agreement shall be deleted in its
entirety and replaced with the following:

         "4.00 SECURITY INTEREST

         Borrower, for valuable consideration received, hereby pledges, assigns,
         transfers and grants to Lender as security for the Obligations, a
         continuing lien and security interest in all of Borrower's right, title
         and interest in and to, the following investment property and general
         intangibles consisting of annuity contracts, Securities, stocks, bonds,
         United States government securities, commercial paper and all income
         therefrom, increases therein and proceeds thereof maintained at and/or
         by: (1) PRIME VEST FINANCIAL SERVICES, INC., ACCOUNT NO. 74006311,(the
         "Account"); (2) Pacific Life Insurance Company Annuity - $1,000,000 -
         Contract No. SP01001834; (3) Pacific Life Insurance Company Annuity -
         $500,000 - Contract No. VR01050237; (4) Pacific Life Insurance Company
         Annuity - $9,000,000 - Contract No. SP01001732; (5) Keyport Insurance
         Trust I Annuity - $950,000 - Contract No. 0212493926-01; and (6) MFS
         Regatta Insurance Trust Annuity - $2,000,000 - Contract No.
         93-9300-035978, together with products and proceeds thereof and all
         accessions and additions thereto and all replacements and substitutions
         therefore (hereinafter called the "Collateral"). The term "proceeds"
         shall include, without limitation, all types of classifications of
         non-cash proceeds acquired with cash proceeds.

                  The Borrower shall at all times maintain Collateral having an
         aggregate market value (on a discounted basis subject to the Discount
         Factors set forth in the definition of Available Amount) of not less
         than the sum of any applicable surrender charges, prepayment fees,
         early withdrawal fees and/or similar charges required in connection
         with any of the Annuities and/or Securities, and the Obligations of the
         Borrower to the Lender hereunder. Additional units or shares of
         investment securities (or other unrestricted, registered securities
         publicly traded on a nationally recognized stock exchange, or other
         additional collateral acceptable to the Lender) may from time to time
         be required by the Lender to be transferred to the Account, and the
         Borrower agrees to do so within three (3) business days of notice and
         request from the Lender stating that the then aggregate market value of
         Collateral is less than the sum of any applicable surrender charges,
         prepayment fees, early withdrawal fees and/or similar charges required
         in connection with any of the Annuities and/or Securities, and the
         Obligations of the Borrower to the Lender hereunder. Failure by the
         Borrower to provide additional collateral having an aggregate market
         value (on a discounted basis subject to the Discount Factors set forth
         in the definition of Available Amount) equal to the difference between
         (i) the sum of any applicable surrender charges, prepayment fees, early
         withdrawal fees and/or similar charges required in connection with any
         of the Annuities and/or Securities, and (ii) the Obligations and the
         then aggregate market value of the Collateral shall constitute an Event
         of Default, and the Lender shall be entitled to liquidate the
         Collateral for application to the Obligations without further notice to
         the Borrower.

                                         4
<PAGE>
                  Provided that no Default or Event of Default has occurred and
is continuing hereunder, the Lender, upon request of the Borrower or its
authorized representatives, shall promptly make or cause to be made trades of
investment securities held in the Account as Collateral for the Obligations. In
addition, so long as no Default or Event of Default has occurred and is
continuing hereunder, the Lender, upon request of the Borrower or its authorized
representatives, shall promptly transfer or withdraw or cause to be transferred
or withdrawn from the Account and placed in an alternative account designated by
the Borrower or delivered to the Borrower, as the case may be, cash or
securities in such amounts up to that amount by which the then current aggregate
market value of the Collateral (on a discounted basis subject to the Discount
Factors set forth in the definition of Available Amount) exceeds the sum of any
applicable surrender charges, prepayment fees, early withdrawal fees and/or
similar charges required in connection with any of the Annuities and/or
Securities, and the Obligations."

         13. That Section 6.02 of the Loan Agreement is deleted in its entirety
and replaced with the following:

         "6.02 NO SALE OF COLLATERAL

         Without prior written consent of Lender, which will not be unreasonably
         withheld, Borrower, during the tenure of this Agreement, will not sell,
         assign, or dispose of any Collateral, nor create or permit to be
         created, any lien, encumbrance or security interest of any kind on any
         Collateral other than for the benefit of Lender, and if such lien or
         encumbrance is created or permitted, Borrower will effect a discharge
         of the same within ten (10) days following written notice from Lender.
         Notwithstanding the foregoing, the Borrower may dispose of Investment
         Collateral in accordance with the terms of the Control Agreement."

         14. That Section 6.04 of the Loan Agreement is deleted in its entirety
and replaced with the following:

         "6.04 NOTICE OF MERGER OR ACQUISITION

         Borrower and/or Guarantor will not wind up, liquidate, or dissolve
         itself, reorganize, merge or consolidate with, or into, or convey,
         sell, assign, transfer, lease, or otherwise dispose of (whether in one
         transaction or a series of transactions) all or substantially all of
         its assets and/or the Guarantor's (whether now owned or hereafter
         acquired) to any Person or acquire all or substantially all of the
         assets or the business of any Person or permit any subsidiary to do so
         without providing notice of such event to Lender within thirty (30)
         days of such occurrence, together with financial information necessary
         for the Lender to evaluate the capital structure and debt service
         ability of the Borrower after giving effect to such occurrence;
         provided that such notice and information shall be solely for
         informational purposes and Lender shall have no right to approve or
         disapprove such transaction."

         15. That Section 6.07 of the Loan Agreement is deleted in its entirety
and replaced with the following:

         "6.07 FINANCIAL STATEMENTS

         The Borrower will deliver, at its sole expense, to the Lender, the
         following:

         A. Within one hundred twenty (120) days after the close of each fiscal
         year, its consolidated financial statements, including the Guarantor,
         audited by certified public accountants servicing the corporations,
         along with the accountant's management letter and an accounts
         receivable aging as of the end of each fiscal year.

         B. Within forty-five (45) days after the close of each of the first
         three (3) fiscal quarters, Borrower will provide to Lender, its
         internally prepared financial statements, including the Guarantor,
         including, without limitation, consolidated income statement and
         balance

                                        5
<PAGE>
         sheet, accounts receivable aging, and consolidated statement of cash
         flow prepared according to GAAP consistently applied.

         C. The Borrower shall provide Lender with a true and correct copy of
         all filings made with the Securities Exchange Commission as and when
         filed.

         D. The Borrower and Guarantor shall deliver to the Lender by March 31st
         of each fiscal year, a true and correct copy of their consolidated
         projections for that fiscal year, to include an income statement,
         balance sheet and cash flow statement.

         E. From time-to-time, such additional information regarding the
         financial condition or business of the Borrower and Guarantor as the
         Lender may request.

                  MODIFICATION TO REVOLVING LINE OF CREDIT NOTE

         16. That the opening paragraph of the Revolving Line of Credit Note is
deleted in its entirety and replaced with the following:

         "REVOLVING LINE OF CREDIT
         MAXIMUM AMOUNT: $8,000,000.00

                          REVOLVING LINE OF CREDIT NOTE

         AFTER DATE, FOR VALUE RECEIVED, SMITH & WESSON CORP., a Delaware
         corporation having a principal place of business at 2100 Roosevelt
         Avenue, Springfield, Massachusetts (the "Borrower"), promises to pay to
         the order, of BANKNORTH, N.A. F/K/A FIRST MASSACHUSETTS BANK, N.A., a
         national banking association duly organized under the laws of the
         United States of America ("Lender"), having a usual place of business
         at 1441 Main Street, Springfield, Massachusetts, ON DEMAND, the maximum
         principal sum of EIGHT MILLION AND 00/100 DOLLARS ($8,000,000.00), or
         the (then) current balance of Borrower's loans now existing, refinanced
         hereby, or made to it on or after the date hereof, by the Lender, from
         time-to-time ("Principal Sum"), as reflected by the books, records and
         ledgers of the Lender ("Loan Account") with respect to those loans made
         on or after the date hereof pursuant to a Loan and Security Agreement
         of even date herewith (the "Loan Agreement"), as well as all other
         obligations of Borrower pursuant to this Note which may at any time be
         due to Lender (if such balances or obligations are other than Eight
         Million and 00/100 Dollars ($8,000,000.00)), together with interest
         thereon in arrears, calculated daily and payable monthly on the
         outstanding and unpaid principal amount of the Revolving Line of Credit
         Loans during the preceding month at a rate per annum equal to Lender's
         Base Rate. The term "Base Rate" shall mean that rate of interest
         established and announced as such by the Lender from time-to-time as
         the Base Rate."

         17. That for valuable consideration received, including but not limited
to, a Fifteen Million and 00/100 Dollar ($15,000,000.00) Term Loan of even date
herewith, Smith & Wesson Holding Corporation does hereby guaranty payment and
performance of all Obligations of the Borrower, all as more fully described in
Exhibit "1" attached hereto.

                                        6
<PAGE>
         18. That any ambiguities, contradictions, discrepancies as between or
among the Loan Agreement, the Note and this Modification Agreement shall at all
times, and in each instance, be resolved in favor of this Modification
Agreement.

         19. Except for the modifications made hereby, this Modification is in
addition to, and not in substitution of, the Loan Agreement and the Note.

         Executed under seal this ___ day of March, 2002 by the parties set
forth below by their duly authorized officers.

                                          SMITH & WESSON CORP.

__________________________________     By:______________________________________
Witness                                   Its duly authorized
                                          BORROWER

                                          SMITH & WESSON HOLDING CORPORATION

__________________________________     By:______________________________________
Witness                                   Its duly authorized
                                          GUARANTOR

                                          BANKNORTH, N.A. F/K/A FIRST
                                          MASSACHUSETTS BANK, N.A.

__________________________________     By:______________________________________
Witness                                   Its duly authorized
                                          LENDER

                                       7<PAGE>
Exhibit 10.31

                                 SMITH & WESSON
                            WHOLESALE SPORTING GOODS
                              DISTRIBUTOR AGREEMENT

      THIS AGREEMENT is effective as of January 1, 2002 between SMITH & WESSON
CORP., a Delaware corporation (Smith & Wesson) with offices at 2100 Roosevelt
Avenue, Springfield, Massachusetts 01102 and <<Company>> (Distributor).

      1. APPOINTMENT. Smith & Wesson hereby appoints Distributor a non-exclusive
sporting goods wholesale distributor for Smith & Wesson sporting goods equipment
(the Products) in accordance with the terms and conditions of this Agreement.

      2. COMPLIANCE WITH FIREARMS LAWS. Distributor acknowledges that the
distribution and sale of Smith & Wesson firearms are governed by
responsibilities and obligations delineated by law and by virtue of this
agreement with Smith & Wesson. Distributor represents that it is presently in
full compliance with all federal, state and local laws, statutes, ordinances and
regulations relating to the distribution and sale of firearms. Distributor
further represents and acknowledges that the name and reputation of Smith &
Wesson and its products constitute a valuable asset, and Distributor shall
conduct its operations and the distribution and sale of the Products ethically
and strictly in accordance with the letter and spirit of all applicable laws so
that the name and reputation of Smith & Wesson and its Products shall not be
adversely affected. Distributor acknowledges this is a material condition and
term to this Agreement. Failure to comply with this Provision affords Smith &
Wesson the right to terminate this Agreement without further obligation or
liability on the part of Smith & Wesson.

      3. DISTRIBUTOR'S DUTIES. The Distributor shall:

      (a) Comply with all federal, state and local laws, statutes, ordinances
and regulations relating to the sale and distribution of firearms during the
term of this agreement.

      (b) Employ sufficient adequately trained and competent personnel who will
follow all federal, state and local laws, statutes, ordinances and regulations
relating to the sale and distribution of firearms during the term of this
agreement.

      (c) Restrict the sale of firearms to those persons or dealers lawfully
authorized to purchase or own firearms.

      (d) Not knowingly sell Smith & Wesson products to any person or entity who
is not complying with the laws and regulations relating to the sale or
distribution of firearms.

                                       1
<PAGE>
      (e) Maintain all required books and records relating to the sale or
distribution of firearms and cooperate with all appropriate law enforcement
inquiries relating to those books and records.

      (f) Limit the sale of Smith & Wesson firearms to other Smith & Wesson
distributors or to retail dealers who have a federal firearms license and a
regular place of business where products are displayed to the retail public.

      (g) Equip all new Smith & Wesson firearms sold or distributed with a
locking device provided by Smith & Wesson. Distributor further agrees that it
will provide all applicable Smith & Wesson safety and instruction manuals with
new Smith & Wesson products.

      (h) Adhere to the sales policies of Smith & Wesson which may be expressed
or modified by Smith & Wesson as it deems necessary from time to time.

      (i) Assist Smith & Wesson in processing warranty claims and otherwise
fulfilling its obligations as provided in such warranties.

      (j) Maintain the financial and competitive capabilities necessary to
achieve and support effective distribution of the Products.

      (k) Pay all Smith & Wesson invoices promptly when due.

      (1) Provide financial statements (including a balance sheet, profit and
loss statement and changes in cash flow) certified by independent certified
public accountants, within 60 days after the close of each fiscal year.

      (m) Purchase and maintain a sufficient inventory of Products to
effectively support retail dealers' product needs and maintain, at its own
expense, suitable storage and warehouse facilities for this purpose.

      (n) Report the unit and dollar sales of new Smith & Wesson handguns broken
into the following categories: Revolvers, Centerfire Pistols, and .22 Pistols,
by state, on a monthly basis no later than 15 days from the end of the calendar
month. This information will be supplied on forms supplied by Smith & Wesson
unless another format is specifically approved by Smith & Wesson's Vice
President of Sales and Marketing.

      (o) Not ship the Products to other wholesale distributors who are not
Smith & Wesson contract distributors.

      (p) Provide sales, service and market reports as Smith & Wesson may
reasonably request.

      4. DISTRIBUTOR'S KEY PERSONNEL AND AFFILIATES. Distributor represents and
warrants that the persons or entities named in Exhibit A include (a) all of the
Distributor's key personnel, officers, and directors, and (b) the

                                       2
<PAGE>
individuals or entities that control or are controlled by the Distributor.
Distributor shall give written notice to Smith & Wesson of any change in Exhibit
A within thirty (30) days of such change.

      5. PROHIBITIONS. Distributor shall not, directly or indirectly:

      (a) Sell new Smith & Wesson products at "gun shows".

      (b) Possess or transfer any large capacity ammunition feeding devices
manufactured by Smith & Wesson for sale to purchasers except for those sold to
law enforcement agencies or other purchasers specified by law in paragraph (b)
of Section 178.40(a) of the Code of Federal Regulations.

      (c) Sell or market new Smith & Wesson products through Shotgun News, Gun
List, or other similar magazines.

      (d) Knowingly sell firearms to persons or dealers where false or
misleading statements have been made with respect to the information required to
purchase a firearm.

      (e) Knowingly sell or deliver any firearm to any person or dealer if the
purchase or possession would be in violation of any federal, state or local law,
statute, ordinance or regulation applicable at the place of sale or delivery.

      (f) Participate in direct bids or sell the Products directly to law
enforcement agencies, except that Distributor may honor handgun orders from
dealers for law enforcement agencies providing the order does not exceed 25
units.

      (g) Export any order in excess of five new Smith & Wesson standard catalog
handguns and an additional $1,000.00 in non-handgun product, without the prior
written approval of Vice President of Sales and Marketing to the attached list
(Exhibit B) of specific countries which currently have appropriate distribution
or agents.

      6. TERMS OF SALE. This Agreement, as well as Smith & Wesson's invoice and
order acknowledgment, shall govern the purchase and sale of all Products to
Distributor. To the extent there is any inconsistency between the documents,
this Agreement shall govern.

Smith & Wesson reserves the right to change Products, prices, terms of sale, and
sales policies by giving written notice of any such change to Distributor.

      7. INDEMNIFICATION. Distributor shall indemnify, defend, hold harmless,
and reimburse Smith & Wesson from any and all claims, causes of action, losses,
damages, wrongful death claims, personal injury claims, property damage claims,
expenses and costs as they are incurred (including reasonable attorney's fees,
expenses and costs of litigation) or liability of any kind arising directly or
indirectly (hereinafter

                                       3
<PAGE>
"Claims") in tort, contract or otherwise, out of either (a) Distributor's
alleged or actual violation or breach of this Agreement; (b) the handling,
possession or use of the Products by Distributor or any of its employees or
agents (excluding, however, liability arising solely out of the manufacture of
the Products by Smith & Wesson); and/or (c) any Claims asserted by any third
party against Smith & Wesson which were caused (or alleged to be), in whole or
part, by the negligence, misconduct, action or omissions of Distributor.

      8. INSPECTION AND REPAIR OF RESALE - PRODUCTS. Smith & Wesson may, from
time to time, take used Products in trade-in from law enforcement agencies as a
credit toward the purchase of new Products, and Smith & Wesson may sell such
used Products to the Distributor for resale by the Distributor to its customers.
If mutually agreed upon by Smith & Wesson and Distributor, Smith & Wesson may
direct law enforcement agencies to deliver such used Products directly to
Distributor. Upon receipt of the used Products, the Distributor is required to
follow the inspection and repair procedure described below.

Upon receipt of any used Products intended for resale, Distributor shall perform
an inspection of each used product and, if necessary, make all necessary repairs
to ensure that the Products are in good working order, and that all safety
devices and other features are functioning properly. Only used Products which
are functioning properly and safely may be sold by the Distributor to its
customers.

      9. WARRANTY. Smith & Wesson may provide express written warranties on
Smith & Wesson Products. SUCH WARRANTIES ARE IN LIEU OF, AND SMITH & WESSON
HEREBY DISCLAIMS, ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED
TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR
PURPOSE. Distributor shall not make any representations or warranties concerning
the Products except those contained in Smith & Wesson prepared materials
accompanying the Product. Distributor is not authorized to extend or otherwise
modify (or permit any vendee to extend or otherwise modify) Smith & Wesson's
warranty with respect to any Product. Any statements or warranties, written or
oral, made by distributor with respect to a product that exceeds, modifies or
deviates from the applicable warranty for such product provided by Smith &
Wesson shall be the sole responsibility of distributor unless Smith & Wesson has
given its written authorization for such modification or deviation.

      10. CREDIT. Smith & Wesson may, in its sole discretion, extend credit to
Distributor, and ship Products to Distributor on open account. If Smith & Wesson
is not satisfied with the credit standing of Distributor, Smith & Wesson may
immediately discontinue extending credit to Distributor and Distributor will
immediately make payment of all outstanding amounts. In the event Distributor
fails to pay Smith & Wesson any amount when due, Smith & Wesson shall assess
Distributor a late charge equal to the greater of 2% per month or the highest
rate permissible under applicable law on the outstanding balance which is due
and owing.

                                       4
<PAGE>
      11. RETURNS. Distributor shall not, upon the expiration or termination of
this Agreement, return inventory or any unsold product to Smith & Wesson (unless
agreed upon by Smith & Wesson) or seek reimbursement or any other damages
relating to prospective profits on sales or anticipated sales of products.

      12. TRADE NAMES AND TRADEMARKS. Smith & Wesson grants to Distributor a
nontransferable, nonexclusive license to use Smith & Wesson trade names and
trademarks provided that Distributor shall not use such trade names or
trademarks as any part of its title or the name of its business. Distributor
shall also not use such trade names or trademarks in any manner in connection
with an effort to sell the goods of others, whether or not such goods are
competitive with the Products. Upon termination of this Agreement, Distributor
shall immediately discontinue any use of Smith & Wesson's trademarks, trade
names, and any other identification with Smith & Wesson.

      13. LIMITATION OF LIABILITY. To the fullest extent permitted by law, the
parties waive and relinquish any Claims, demands, causes of action or recoveries
for punitive damages, exemplary damages, or statutory damages. Smith & Wesson
shall not be liable for indirect, special, incidental or other damages arising
under this Agreement or otherwise with respect to the sale of the Products,
including, any lost revenues or profits, consequential and/or incidental
damages, business interruption or damage to business reputation, regardless of
the theory upon which any Claim may be based, including any statutory causes of
action or claims. Notwithstanding the term of any limited written warranty
provided to Distributor, or in the event said limited written warranty fails of
its essential purpose, in no event will Smith & Wesson's entire liability to
Distributor exceed the purchase price actually paid by Distributor for the
Products hereunder, or any defective portion thereof, whichever is the lesser
amount. Any written limited warranty is the sole and exclusive remedy of
Distributor.

No Claim of any kind may be brought against Smith & Wesson by Distributor more
than one year after the Claim has arisen. In addition, Distributor may not make
any Claim for shortage or damage in any delivery to Distributor more than
fourteen business days after Distributor's receipt of the delivery; and, all
other Claims, including Claims for allegedly defective goods, must be made
within fifteen days after Distributor learns of the facts on which such Claim is
based, but in no event later than one year after Distributor's receipt of the
goods.

      14. FORCE MAJEURE. Smith & Wesson shall have no liability or obligation to
Distributor of any kind, including, but not limited to, any obligation to
deliver Products or provide maintenance, warranty, repair or other services,
arising from any delay or failure or failure to perform all or any part of this
Agreement as a result of causes, conduct or occurrence beyond Smith & Wesson's
reasonable control, including, but not limited to, commercial impracticability,
fire, flood, act of war, civil disorder or disobedience, act of public enemies,
problems associated with manufacture or transportation (including car or truck
shortages), acts or failure to act of any state, federal or foreign governmental
or regulatory authorities, labor disputes, strikes or failures of suppliers to
make timely deliveries of materials, goods or services to Smith & Wesson.

                                       5
<PAGE>
      15. DEFAULT. The failure of Distributor to perform any obligations
hereunder, including without limitation, the breach of this Agreement, the
payment of the purchase price for Products and/or all other amounts due
hereunder, the failure to materially perform other agreements between
Distributor and Smith & Wesson, or Distributor's bankruptcy, insolvency, or
inability to pay its debts when they become due, shall constitute a default
under this Agreement and shall, in addition to any other remedies in law, equity
or under this Agreement, afford Smith & Wesson all the remedies of a secured
party under the Uniform Commercial Code. In the event of default, Smith & Wesson
may, in addition to canceling this Agreement without liability to Distributor,
refuse to provide warranty, repair and/or maintenance services and/or refuse to
deliver Products under this or any other service, purchase or maintenance
agreement relating to the Products, and may also cancel this Agreement and any
pending orders or agreements without liability to Distributor. Notwithstanding
the foregoing, it is understood that Smith & Wesson's remedies hereunder are
cumulative and nonexclusive.

      16. BREACH OF CONTRACT. A violation or breach of any item of this
agreement, which may be determined in the sole and unfettered discretion of
Smith & Wesson, may in its discretion also issue a warning that a distributor is
operating in violation of the agreement, suspend shipments, or take such other
steps as it deems appropriate under the circumstances. No acts or omissions by
Smith & Wesson shall be deemed a waiver of any rights under this agreement.

      17. TERM. This Agreement shall remain in effect until December 31, 2002,
when it will automatically terminate; provided, however, that either party may
terminate this Agreement without cause by giving thirty (30) days prior written
notice to the other party and, provided further, that Smith & Wesson may
terminate this Agreement immediately by giving written notice of termination if
any of the following occur:

                  (a) a breach, violation or failure to perform any term of this
Agreement by Distributor;

                  (b) Failure to pay the purchase price to Smith & Wesson when
due;

                  (c) a change in the business, operation, control, financial
condition or business affairs of Distributor including, without limitation, a
change in the parties listed in Exhibit A, the filing of any lien against
Distributor or attachment of any assets, the entry of a judgment against
Distributor in an amount in excess of $25,000, the filing of any petition in
bankruptcy by or against Distributor, Distributor's insolvency, reorganization
or inability to pay its debts when due; or

                  (d) Distributor has failed to provide any financial statements
as required by Section 3(e).

                                       6
<PAGE>
Smith & Wesson may suspend or terminate all Distributor rights, with or without
notice, if a claim is brought by any governmental or law enforcement agency in
which the business or distribution practices of Distributor are called into
question.

      18. SEVERABILITY. If any term, covenant, warranty or condition of this
Agreement or the application thereof to any person or circumstance shall, to any
extent, be held or deemed invalid or unenforceable, the remainder of this
Agreement or the application of such term, covenant or provision, to persons or
circumstances other than those to which it is held invalid or unenforceable,
shall not be affected thereby, and each remaining term, covenant, or provision
of this Agreement shall be deemed valid and shall be enforced to the fullest
extent permitted by law.

      19. NON-EXCLUSIVE NATURE. Smith & Wesson reserves the right to appoint
other distributors and to make direct sales to any other person or entity. It is
expressly agreed that Distributor's rights are non-exclusive. The Distributor is
not an agent, employee or franchisee of Smith & Wesson and may not assign or
license any of its rights or obligations under this Agreement.

            20. ACCEPTANCE, MERGER AND INTEGRATION. SMITH & WESSON WILL BE
      DEEMED TO HAVE ACCEPTED THIS AGREEMENT WHEN SMITH & WESSON RETURNS AN
      ACKNOWLEDGED COPY OF THIS AGREEMENT TO DISTRIBUTOR, OR AT SMITH & WESSON'S
      OPTION, WHEN SMITH & WESSON BEGINS SUBSTANTIAL PERFORMANCE UNDER THIS
      AGREEMENT. DISTRIBUTOR ACCEPTS THIS AGREEMENT BY ACKNOWLEDGING OR SIGNING
      A COPY OF THIS AGREEMENT OR BY ACCEPTANCE OF DELIVERY OF THE PRODUCTS OR
      SERVICES HEREUNDER. NOTWITHSTANDING THE MANNER IN WHICH DISTRIBUTOR
      ACCEPTS, DISTRIBUTOR'S ACCEPTANCE IS LIMITED EXCLUSIVELY TO THE ACCEPTANCE
      OF SMITH & WESSON'S TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT ONLY.
      SMITH & WESSON HEREBY OBJECTS TO AND REJECTS ANY PROPOSAL BY DISTRIBUTOR
      FOR ADDITIONAL OR DIFFERENT TERMS IN CONNECTION WITH THE PRODUCTS OR
      SERVICES PROVIDED. ANY CONTRARY TERMS PROVIDED BY DISTRIBUTOR ARE AGREED
      TO BE SUPERFLUOUS AND WITHOUT ANY FORCE AND EFFECT. THIS AGREEMENT, WHICH
      INCLUDES ALL THE TERMS AND CONDITIONS SET FORTH HEREIN AND ALL RIDERS OR
      LIMITED WRITTEN WARRANTIES, IF ANY, PROVIDED BY SMITH & WESSON, IS
      INTENDED TO BE THE EXCLUSIVE AND FINAL STATEMENT OF THE TERMS AND
      UNDERSTANDINGS RELATIVE TO THE SUBJECT MATTER HEREOF, MERGING HEREIN, AND
      SUPERSEDING ALL NEGOTIATIONS AND PRIOR WRITTEN OR ORAL AGREEMENTS BETWEEN
      THE PARTIES AS TO THE SUBJECT MATTER OF THE PURCHASE OF THE PRODUCTS OR
      SERVICES HEREUNDER. THERE ARE NO PROMISES, REPRESENTATIONS OR
      UNDERSTANDINGS MADE IN CONNECTION WITH THIS AGREEMENT OR CONTEMPORANEOUS
      WITH THE EXECUTION HEREOF, EXCEPT AS SET FORTH IN THIS AGREEMENT.

      21. ARBITRATION. Except for the right of either party to apply to a court
of competent jurisdiction located within the Commonwealth of Massachusetts for
equitable relief to preserve the status quo or prevent irreparable harm, any
controversy or

                                       7
<PAGE>
claim relating to this Agreement shall be settled by arbitration in the City of
Springfield, Massachusetts, in accordance with the rules of the American
Arbitration Association or some other similar organization mutually agreeable to
the parties. The arbitrator shall not be empowered to grant exemplary or
punitive damages or any damages in excess of those damages permitted or limited
under the express terms of this Agreement. Distributor shall be liable for all
collection costs and expenses, including collection agency and reasonable
attorney's fees and costs, incurred by Smith & Wesson to collect amounts owed to
Smith & Wesson by Distributor.

      22. ATTORNEY'S FEES. In the event it becomes necessary for Smith & Wesson
to enforce the terms and conditions of this Agreement by litigation or
otherwise, or to defend itself in any Controversy (as defined herein),
litigation, Claim, demand, dispute, or cause of action arising out of or as a
result of this Agreement or the Products or services provided hereunder, and if
Smith & Wesson is the substantially prevailing party in said Controversy,
litigation, Claim, demand, dispute, or cause of action, then Smith & Wesson
shall be entitled to recover, in addition to any other relief granted or damages
assessed, its attorney's fees, expert witness fees, costs, and all expenses of
litigation.

      23. MISCELLANEOUS. This Agreement constitutes the entire agreement between
the parties and supersedes any prior negotiations, representations or
agreements. The delay or failure of either party to assert or exercise any of
its rights shall not operate as a waiver of such right.

<<Company>>                             SMITH & WESSON

BY: __________________________           BY: ______________________________

    __________________________               ______________________________
    PRINT NAME AND TITLE                     PRINT NAME AND TITLE

Date:                                    Date:

                                       8

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