Document:

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                                                                     EXHIBIT 4.7

         FIRST AMENDMENT TO NATCO GROUP PROFIT SHARING AND SAVINGS PLAN

               (AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2002)

         WHEREAS, the National Tank Company has heretofore adopted the NATCO
Group Profit Sharing and Savings Plan (As Amended and Restated Effective January
1, 2002) (the "Plan"); and

         WHEREAS, pursuant to Section 16.1 of the Plan, the Plan Administrative
Committee (the "Committee") has the authority to adopt amendments to the Plan
that do not have a significant cost impact on the Employers; and

         WHEREAS, the Committee desires to amend the Plan on behalf of the
Company and the other participating Employers to reflect certain legislative and
regulatory developments and to implement certain design changes.

         NOW, THEREFORE, the Plan is amended as follows and such amendments
shall supersede the provisions of the Plan to the extent those provisions are
inconsistent with the provisions of such amendments:

I.       Effective as of January 1, 2002:

                           1.       The reference to "5%" in the first sentence
                  of Section 3.1(a) of the Plan shall be deleted and the
                  reference to "1%" shall be substituted therefor.

                           2.       The phrase "and Paragraph (g) above" shall
                  be added to the first sentence of Section 3.1(h) of the Plan
                  after the parenthetical phrase "(as adjusted pursuant to
                  Paragraph (f) above)" contained therein.

                           3.       The first two sentences of Section 3.7(a) of
                  the Plan shall be deleted and the following shall be
                  substituted therefor:

         "Rollover Contributions may be made to the Plan by any Eligible
         Employee of amounts received by such Eligible Employee from a qualified
         plan described in section 401(a) or 403(a) of the Code, an annuity
         contract described in section 403(b) of the Code or an eligible plan
         under section 457(b) of the Code which is maintained by a state,
         political subdivision of a state, or any agency or instrumentality of a
         state or political subdivision of a state; provided, however, that the
         Plan will not accept a Rollover Contribution of any after-tax employee
         contributions from any source. In addition, the Plan will accept a
         Rollover Contribution of the portion of a distribution received by an
         Eligible Employee from an individual retirement account or annuity
         described in section 408(a) or 408(b) of the Code that is eligible to
         be rolled over and would otherwise be includable in gross income.
         Rollover Contributions may only be made to the Plan pursuant to and in
         accordance with applicable provisions of the Code. Any Eligible
         Employee desiring to effect Rollover Contributions must execute and
         file with the Committee the form described by the Committee for such
         purpose. A Rollover Contribution shall be credited to the Rollover
         Account of the Eligible Employee making such Rollover Contribution as
         of the day on which the Rollover Contribution is made. Qualified direct
         Rollover Contributions may be made to the Plan by any Eligible Employee
         of amounts received by such Eligible Employee from any of a qualified
         plan described in section 401(a) or 403(a) of the Code (excluding
         after-tax employee contributions), an annuity described in section
         403(b) of the Code but excluding after-tax employee contributions or an
         eligible plan under section 457(b) of the Code which is maintained by a
         state, political subdivision of a state, or any agency or
         instrumentality of a state or political subdivision of a state.
         Qualified direct Rollover Contributions may be made to the Plan only
         pursuant to and in accordance with applicable provisions of the Code
         and Treasury regulations promulgated thereunder. A direct Rollover
         Contribution of amounts that are `eligible rollover distributions'
         within the meaning of section 402(f)(2)(a) of the Code may be made to
         the Plan irrespective of whether such eligible rollover distribution
         was paid to the Eligible Employee or paid to the Plan as a `direct'
         Rollover Contribution."

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         4.       The last sentence of Section 11.1(c) of the Plan shall be
deleted.

II. Effective as of December 20, 2002:

         1.       The first two lines of Section 1.1(12)(C) of the Plan shall be
deleted and the following shall be substituted therefor:

                  "(C)The Compensation of any Participant taken into account for
                  purposes of the Plan, except for purposes of the application
                  of the limitations under sections 402(g) and 414(v) of the
                  Code, as described, respectively, in Sections 4.5 and 3.1(d)
                  of the Plan, shall be limited to $200,000 for any Plan Year
                  with such limitation to be:"

         2.       The second sentence of Section 3.1(b) of the Plan shall be
deleted and the following shall be substituted therefor:

      "A Participant who has elected to defer a portion of his Compensation may
         change his deferral election percentage (within the percentage limits
         set forth in Paragraph (a) above), effective as of the first day of any
         payroll period, by communicating such new deferral election percentage
         to his Employer in the manner and within the time period prescribed by
         the Committee."

         3.       Section 7.2 of the Plan shall be deleted and the following
shall be substituted therefor:

                  "7.2 TOTAL AND PERMANENT DISABILITY DETERMINED. A Participant
         shall be considered totally and permanently disabled if such
         Participant has been determined to be disabled under any
         Company-sponsored long-term disability plan, or if such Participant is
         not eligible for coverage under any such plan, then such Participant
         shall be considered totally and permanently disabled if such
         Participant has been determined eligible to receive Social Security
         disability benefits under the federal Social Security Act."

III. Effective as of January 1, 2003, the following new Section 10.7 shall be
added to Article X of the Plan:

                  "10.7    MINIMUM DISTRIBUTION REQUIREMENTS.

                  (a)      The provisions of this Section 10.7 will apply for
         purposes of determining required minimum distributions for calendar
         years beginning with the 2003 Distribution Calendar Year.

                  (b)      The requirements of this Section 10.7 will take
         precedence over any inconsistent provisions of the Plan.

                  (c)      All distributions required under this Section 10.7
         will be determined and made in accordance with the Treasury regulations
         under section 401(a)(9) of the Code.

                  (d)      Notwithstanding the other provisions of this Section
         10.7, distributions may be made under a designation made before January
         1, 1984, in accordance with section 242(b)(2) of the Tax Equity and
         Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that
         relate to section 242(b)(2) of TEFRA.

                  (e)      The Participant's entire interest will be
         distributed, or begin to be distributed, to the Participant no later
         than the Participant's Required Beginning Date. If the Participant dies
         before distributions begin, the Participant's entire interest will be
         distributed, or begin to be distributed, no later than as follows:

                           (1)      If the Participant's surviving spouse is the
                  Participant's sole Designated Beneficiary, then distributions
                  to the surviving spouse will begin by December 31 of the
                  calendar year immediately following the calendar year in which
                  the Participant died, or

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                  by December 31 of the calendar year in which the Participant
                  would have attained age 70 1/2, if later.

                           (2)      If the Participant's surviving spouse is not
                  the Participant's sole Designated Beneficiary, then
                  distributions to the Designated Beneficiary will begin by
                  December 31 of the calendar year immediately following the
                  calendar year in which the Participant died.

                           (3)      If there is no Designated Beneficiary as of
                  September 30 of the year following the year of the
                  Participant's death, the Participant's entire interest will be
                  distributed by December 31 of the calendar year containing the
                  fifth anniversary of the Participant's death.

                           (4)      If the Participant's surviving spouse is the
                  Participant's sole Designated Beneficiary and the surviving
                  spouse dies after the Participant but before distributions to
                  the surviving spouse begin, this Paragraph (disregarding item
                  (1) above), will apply as if the surviving spouse were the
                  Participant.

         For purposes of this Paragraph (e) and Paragraph (g) below, unless item
         (4) above applies, distributions are considered to begin on the
         Participant's Required Beginning Date. If item (4) above applies,
         distributions are considered to begin on the date distributions are
         required to begin to the surviving spouse under item (1) above. If
         distributions under an annuity purchased from an insurance company
         irrevocably commence to the Participant before the Participant's
         Required Beginning Date (or to the Participant's surviving spouse
         before the date distributions are required to begin to the surviving
         spouse under item (1) above), the date distributions are considered to
         begin is the date distributions actually commence. Unless the
         Participant's interest is distributed in the form of an annuity
         purchased from an insurance company or in a single sum on or before the
         Required Beginning Date, as of the first Distribution Calendar Year
         distributions will be made in accordance with Paragraphs (f) and (g) of
         this Section 10.7, whichever is applicable. If the Participant's
         interest is distributed in the form of an annuity purchased from an
         insurance company, distributions thereunder will be made in accordance
         with the requirements of section 401(a)(9) of the Code and the Treasury
         regulations.

                  (f)      During the Participant's lifetime, the minimum amount
         that will be distributed for each Distribution Calendar Year is the
         lesser of:

                           (1)      the quotient obtained by dividing the
                  Participant's Account Balance by the distribution period in
                  the Uniform Lifetime Table set forth in section 1.401(a)(9)-9
                  of the Treasury regulations, using the Participant's age as of
                  the Participant's birthday in the Distribution Calendar Year;
                  or

                           (2)      if the Participant's sole Designated
                  Beneficiary for the Distribution Calendar Year is the
                  Participant's spouse, the quotient obtained by dividing the
                  Participant's Account Balance by the number in the Joint and
                  Last Survivor Table set forth in section 1.401(a)(9)-9 of the
                  Treasury regulations, using the Participant's and spouse's
                  attained ages as of the Participant's and spouse's birthdays
                  in the Distribution Calendar Year.

         Required minimum distributions will be determined under this Paragraph
         (f) beginning with the first Distribution Calendar Year and up to and
         including the Distribution Calendar Year that includes the
         Participant's date of death.

                  (g)      If the Participant dies on or after the date
         distributions begin and there is a Designated Beneficiary, the minimum
         amount that will be distributed for each Distribution Calendar Year
         after the year

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         of the Participant's death is the quotient obtained by dividing the
         Participant's Account Balance by the longer of the remaining Life
         Expectancy of the Participant or the remaining Life Expectancy of the
         Participant's Designated Beneficiary, determined as follows:

                           (1)      The Participant's remaining Life Expectancy
                  is calculated using the age of the Participant in the year of
                  death, reduced by one for each subsequent year.

                           (2)      If the Participant's surviving spouse is the
                  Participant's sole Designated Beneficiary, the remaining Life
                  Expectancy of the surviving spouse is calculated for each
                  Distribution Calendar Year after the year of the Participant's
                  death using the surviving spouse's age as of the spouse's
                  birthday in that year. For Distribution Calendar Years after
                  the year of the surviving spouse's death, the remaining Life
                  Expectancy of the surviving spouse is calculated using the age
                  of the surviving spouse as of the spouse's birthday in the
                  calendar year of the spouse's death, reduced by one for each
                  subsequent calendar year.

                           (3)      If the Participant's surviving spouse is not
                  the Participant's sole Designated Beneficiary, the Designated
                  Beneficiary's remaining Life Expectancy is calculated using
                  the age of the Designated Beneficiary in the year following
                  the year of the Participant's death, reduced by one for each
                  subsequent year.

         If the Participant dies on or after the date distributions begin and
         there is no Designated Beneficiary as of September 30 of the year after
         the year of the Participant's death, the minimum amount that will be
         distributed for each Distribution Calendar Year after the year of the
         Participant's death is the quotient obtained by dividing the
         Participant's Account Balance by the Participant's remaining Life
         Expectancy calculated using the age of the Participant in the year of
         death, reduced by one for each subsequent year.

                  (h)      If the Participant dies before the date distributions
         begin and there is a Designated Beneficiary, the minimum amount that
         will be distributed for each Distribution Calendar Year after the year
         of the Participant's death is the quotient obtained by dividing the
         Participant's Account Balance by the remaining Life Expectancy of the
         Participant's Designated Beneficiary, determined as provided in item
         (1), (2) or (3) of Paragraph (g), whichever is applicable. If the
         Participant dies before the date distributions begin and there is no
         Designated Beneficiary as of September 30 of the year following the
         year of the Participant's death, distribution of the Participant's
         entire interest will be completed by December 31 of the calendar year
         containing the fifth anniversary of the Participant's death. If the
         Participant dies before the date distributions begin, the Participant's
         surviving spouse is the Participant's sole Designated Beneficiary, and
         the surviving spouse dies before distributions are required to begin to
         the surviving spouse under item (1) of Paragraph (e), this Paragraph
         (h) will apply as if the surviving spouse were the Participant.
         Notwithstanding the foregoing, if the Participant dies before
         distributions begin and there is a Designated Beneficiary, distribution
         to the Designated Beneficiary is not required to begin by the date
         specified in Paragraph (e) above but the Participant's entire interest
         will be distributed to the Designated Beneficiary by December 31 of the
         calendar year containing the fifth anniversary of the Participant's
         death. If the Participant's surviving spouse is the Participant's sole
         Designated Beneficiary and the surviving spouse dies after the
         Participant but before distributions to either the Participant or the
         surviving spouse begin, this Paragraph will apply as if the surviving
         spouse were the Participant.

                  (i)      For purposes of this Section 10.7, the following
         terms and phrases shall have these respective meanings:

                           (1)      Designated Beneficiary: The individual who
                  is designated as a Participant's beneficiary under Section 9.2
                  of the Plan and is a Designated Beneficiary under section
                  401(a)(9) of the Code and section 1.401(a)(9)-1, Q&A-4,of the
                  Treasury regulations.

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                           (2)      Distribution Calendar Year: A calendar year
                  for which a minimum distribution is required. For
                  distributions beginning before the Participant's death, the
                  first Distribution Calendar Year is the calendar year
                  immediately preceding the calendar year which contains the
                  Participant's Required Beginning Date. For distributions
                  beginning after the Participant's death, the first
                  Distribution Calendar Year is the calendar year in which
                  distributions are required to begin under Paragraph (e). The
                  required minimum distribution for the Participant's first
                  Distribution Calendar Year will be made on or before the
                  Participant's Required Beginning Date. The required minimum
                  distribution for other Distribution Calendar Years, including
                  the required minimum distribution for the Distribution
                  Calendar Year in which the Participant's Required Beginning
                  Date occurs, will be made on or before December 31 of that
                  Distribution Calendar Year.

                           (3)      Life Expectancy. Life Expectancy as computed
                  by use of the Single Life Table in section 1.401(a)(9)-9 of
                  the Treasury regulations.

                           (4)      Participant's Account Balance. The balance
                  in a Participant's Accounts as of the last Valuation Date in
                  the calendar year immediately preceding the Distribution
                  Calendar Year (valuation calendar year) increased by the
                  amount of any contributions made and allocated or forfeitures
                  allocated to the Participant's Accounts as of dates in the
                  valuation calendar year after the Valuation Date and decreased
                  by distributions made in the valuation calendar year after the
                  Valuation Date. A Participant's Account Balance for the
                  valuation calendar year includes any amounts rolled over or
                  transferred to the Plan either in the valuation calendar year
                  or in the Distribution Calendar Year if distributed or
                  transferred in the valuation calendar year.

                           (5)      Requiring Beginning Date. With respect to a
                  Participant or beneficiary, the date described in Section
                  10.1(d) of the Plan."

IV. As amended hereby, the Plan is specifically ratified and reaffirmed.

         IN WITNESS WHEREOF, the party has caused these presents to be executed
this 20th day of December, 2002.

                           NATIONAL TANK COMPANY

                           By: /s/ DAVID F. WALKER
                               ------------------------------
                           Name:  David F. Walker
                                 ----------------------------
                           Title: Director of Human Resources
                                 ----------------------------

                                      -5-<PAGE>

                                                                   EXHIBIT 10.34

                           PURCHASE AND SALE AGREEMENT

         THIS PURCHASE AND SALE AGREEMENT (this "Agreement"), dated as of
February 25, 2003, is made by and between SMITH & WESSON CORP., a Delaware
corporation with an address at 2100 Roosevelt Avenue, Springfield, Massachusetts
01102-2208 ("S&W"), and SPRINGFIELD REDEVELOPMENT AUTHORITY, a public body
politic and corporate created pursuant to General Laws c. 121B, with a principal
place of business at 1441 Main Street, Springfield, Massachusetts 01103 ("SRA").

                                    RECITALS:

         A.       S&W owns approximately 85 acres of excess land (the "Land"),
as more particularly described on the Subdivision Plan (as hereinafter defined),
located adjacent to S&W's manufacturing and office facility (the "Retained
Property") located on Roosevelt Avenue in Springfield, Massachusetts.

         B.       The City of Springfield (the "City") desires to locate the
development of a light industrial and other commercial use development park to
be known as the "Springfield Memorial Industrial Park" on the Land.

         C.       The City is prepared to allocate certain federal funds
committed to the City to the acquisition, remediation and redevelopment of the
Land.

         D.       S&W desires to sell, and the City desires to designate SRA as
its agent to purchase, the Land along with certain related personal and
intangible property so that SRA may own, remediate, redevelop and dispose of the
Land pursuant to MGL 121 B for the development of the Springfield Memorial
Industrial Park.

         NOW, THEREFORE, in consideration of the foregoing, of the covenants,
promises and undertakings set forth herein, and for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, S&W
and SRA agree as follows:

1.       THE PROPERTY.

         1.1      Description. Subject to the terms and conditions of this
Agreement, and for the consideration herein set forth, S&W agrees to sell and
transfer, and SRA agrees to purchase and acquire, all of S&W's right, title and
interest in and to the following (collectively, the "Property"):

                  1.1.1    The Land;

                  1.1.2    The improvements and fixtures now situated on the
Land, if any (the "Improvements");

                  1.1.3    All easements, hereditaments, and appurtenances
belonging to or inuring to the benefit of S&W and pertaining exclusively to the
Land, if any;

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                  1.1.4    Any street or road abutting the Land to the center
lines thereof;

                  1.1.5    All leases, contracts and agreements relating to the
operation or maintenance of the Land or the Improvements, if any, regarding the
Property as set forth on or attached hereto as Exhibit A; and

                  1.1.6    All transferable consents, authorizations, variances
or waivers, licenses, permits and approvals from any governmental or
quasi-governmental agency, department, board, commission, bureau or other entity
or instrumentality solely in respect of the Land or the Improvements.

         1.2      "As-Is" Purchase. The Property shall be sold and conveyed
strictly on an "AS IS", "WHERE IS" and "WITH ALL DEFECTS" basis. No person
acting on behalf of S&W is authorized to make, and by execution hereof, SRA
acknowledges that no person has made, any representation, agreement, statement,
warranty, guarantee or promise of any kind or character whatsoever, whether
express or implied, oral or written, past, present or future, regarding the
zoning, construction, physical condition or other status of the Property, or any
materials, data or other information supplied to SRA in connection with SRA's
inspection of the Property or the transaction contemplated herein. SRA shall
rely solely upon SRA's own knowledge of the Property based on its investigation
of the Property and its own inspection of the Property in determining the
Property's physical condition.

2.       PURCHASE PRICE AND CLOSING.

         2.1      Purchase Price. The purchase price for the Property (the
"Purchase Price") is ONE MILLION SEVEN HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS
($1,750,000.00) U.S. At the Closing, SRA shall pay S&W SEVEN HUNDRED FIFTY
THOUSAND AND 00/100 DOLLARS ($750,000.00) in cash. The balance of the Purchase
Price of ONE MILLION AND 00/100 DOLLARS ($1,000,000.00) (the "Loan") shall be
evidenced, secured and paid as set forth in Exhibit B attached hereto. The
Purchase Price shall be subject to adjustment for the prorations as provided
herein and deposited to a bank account designated by S&W via wire transfer in
immediately available funds.

         2.2      Closing. Payment of the Purchase Price and the closing
hereunder (the "Closing") shall take place pursuant to a closing at the offices
of Bulkley, Richardson and Gelinas, LLP, Springfield, Massachusetts, on February
25, 2003 (the "Closing Date"), at 10:00 A.M. local time, or at such other time
and place as may be agreed upon in writing by S&W and SRA.

3.       GENERAL TERMS AND CONDITIONS.

         3.1      Inspections. S&W shall permit SRA access to the Property for
purposes of physical and environmental inspection of the Property, including the
right to conduct or allow testing of, on or under the Property. This testing
shall not be done, however, without first obtaining S&W's written consent as to
the timing and scope of work to be performed. SRA shall

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give S&W reasonable prior written notice of its intention to conduct any
inspections, and S&W reserves the right to have a representative present. SRA
agrees to provide S&W with a copy of any inspection report upon S&W's written
request, which agreement shall survive the Closing or termination of this
Agreement.

         3.2      Title and Survey. Seller shall convey good, clear record and
marketable fee simple title to the Property, free and clear of all tenants and
other occupants and subject only to the Permitted Encumbrances (as hereinafter
defined). Prior to execution of this Agreement, S&W has delivered to SRA a copy
of S&W's current title insurance policy covering the Land and the Retained
Property (the "Existing Title Policy"), a copy of which is attached hereto as
Exhibit C. Within 20 days of the complete execution of this Agreement, SRA shall
deliver to S&W a mortgagee title insurance commitment from First American Title
Insurance Company (the "Title Company") insuring S&W's mortgage interest in the
Property (the "Commitment").

         3.3      Permitted Encumbrances. The following encumbrances shall be
deemed approved by SRA (collectively, "Permitted Encumbrances"):

                  3.3.1    All exceptions to title shown in the Existing Title
Policy, the Commitment or otherwise of record and matters shown on the Survey;

                  3.3.2    All contracts and leases described in Section 3.7 of
the Agreement;

                  3.3.3    Real and personal property taxes and assessments not
yet due and payable;

                  3.3.4    Rights of parties in possession not shown by the
public records;

                  3.3.5    Discrepancies, conflicts in boundary lines, shortages
in area, encroachments, and any state of facts which an inspection of the Land
and Improvements would disclose and which are not shown by the public records;

                  3.3.6    Any service, installation, connection, maintenance or
construction charges due after the Closing, and subject to the proration
provisions hereof, for sewer, water, electricity, telephone, cable television or
gas;

                  3.3.7    Governmental laws, codes, ordinances, and
restrictions now or hereafter in effect in so far as these affect the Land and
the Improvements; and

                  3.3.8    A declaration of easement and restriction (the
"Declaration") to be prepared and recorded by S&W, in a form reasonably
satisfactory to SRA, granting S&W rights of access to, from and across the Land
and the Improvements and access from the Land and Improvements to the Retained
Property and granting S&W certain utility and other easements, drainage rights
and other rights which shall be for the benefit the Retained Property.

         3.4      Subdivision. SRA shall, at SRA's sole cost and expense,
subdivide the Property from the Retained Property in accordance with applicable
law. SRA shall obtain the approval of S&W to the subdivision plan (the
"Subdivision Plan") and shall then obtain the approval of the

<PAGE>

Subdivision Plan from the City of Springfield Planning Department. Thereafter,
SRA shall obtain the approval of the Subdivision Plan from the Engineering
Office of the Land Court, provide S&W with evidence of such approval and
contemporaneously with recording other documents at Closing, shall file the
Subdivision Plan with the Hampden Division of the Land Court. SRA shall
undertake all other tasks required to subdivide the Property in accordance with
applicable law. If SRA is unable to obtain all required approvals for the
subdivision of the Property at least ten days prior to the Closing Date, then
either party hereto may terminate this Agreement and neither party hereto shall
have any further liability hereunder except as set forth herein.

         3.5      Financing. SRA shall use commercially reasonable efforts to
assist in the closing of, on or prior to the Closing Date, (i) the loan to the
City under Section 108 of the Housing and Community Development Act of 1974, as
amended, in the principal amount of $2,000,000.00 (the "108 Loan"), and (ii) the
$1,000,000.00 grant to the City pursuant to the United States Department of
Housing and Urban Development Brownfields Economic Initiative (the "BEDI
Grant"). If either of the 108 Loan or the BEDI Grant fail to close on or prior
to the Closing Date, then either party hereto may terminate this Agreement and
neither party hereto shall have any further liability hereunder except as set
forth herein.

         3.6      Remediation Program. SRA and S&W shall cooperate to develop
prior to the Closing a plan for the environmental remediation of the Property
(the "Remediation Program"), which remediation shall be performed by SRA in
accordance with the Remediation Program and all applicable laws post-Closing.
The Remediation Program, among other things, shall comply with applicable law
and include a preliminary schedule and budget for the remediation, which budget
shall include the allocation of the BEDI Grant proceeds to the Remediation
Program, and may include environmental risk insurance in favor of S&W and SRA,
as their interests may appear, for not less then $2,000,000.00 for a term of at
least ten years from the date of completion of the Remediation Program, with
coverages and issued by carriers reasonably acceptable to S&W and SRA. If both
parties hereto fail to approve the Remediation Program prior to the Closing
Date, then either party hereto may terminate this Agreement and neither party
hereto shall have any further liability hereunder except as set forth herein.

         3.7      Contracts; Leases. SRA shall have the right, but not the
obligation, to assume at the Closing any lease or service, maintenance, supply
or other contracts as set forth on Exhibit A, relating to the Property.

         3.8      Confidentiality. Unless both parties specifically and
expressly otherwise agree in writing, both parties hereto agree that information
regarding the Property made available by the other party or their respective
agents or representatives on matters identified as "proprietary" on Exhibit H
("Proprietary Information") is confidential and shall not be disclosed to any
other person except those assisting with the transaction and any prospective
lenders, and then only upon making such person aware of the confidentiality
restriction and procuring such person's written agreement to be bound thereby.
Notwithstanding the foregoing, nothing in this Section shall require either
party hereto to keep information confidential that by law must be disclosed to a
third party, court, administrative agency or other governmental authority,
provided, however,

<PAGE>

whenever reasonably practicable, the party required to disclose any Proprietary
Information shall give the other at least 7 days prior written notice of such
disclosure. In the event the purchase and sale contemplated hereby fails to
close for any reason whatsoever, the parties agree to return to the other all
Proprietary Information provided by the other. Further, SRA agrees not to use or
allow to be used any Proprietary Information for any purpose other than to
determine whether to proceed with the contemplated purchase, or if same is
consummated, in connection with the operation of the Property post-Closing.
Notwithstanding any other term of this Agreement, the provisions of this Section
shall survive the Closing or the termination of this Agreement.

         3.9      Prior to Closing. Until the Closing, S&W or S&W's agent:

                  3.9.1    Shall maintain comprehensive public liability
insurance against claims for bodily injury, death and property damage occurring
in, on or about the Property;

                  3.9.2    Shall operate and maintain the Property in a
businesslike manner and substantially in accordance with S&W's past practices
with respect to the Property;

                  3.9.3    Shall enter into only those third party contracts
which are necessary to carry out its obligations under Section 3.9.2 and which
shall be cancelable on 30 days written notice; and

                  3.9.4    S&W shall not execute, amend, terminate or accept
surrender or approve any such instrument without the consent of SRA, which
consent shall not be unreasonably withheld or delayed.

         3.10     Condemnation. If, prior to the Closing, ten percent or more of
the Property or all access to the Property is taken under power of eminent
domain by any entity other than the City or SRA, S&W shall promptly notify SRA
of such taking. Upon receipt of such notice, SRA may either (i) terminate this
Agreement by giving written notice to S&W within 14 days after receiving notice
of such taking or (ii) consummate this transaction, in which event S&W shall
assign to SRA all of S&W's right, title and interest in and to any award made in
connection with such eminent domain proceedings.

4.       REPRESENTATIONS AND WARRANTIES.

         4.1      By S&W. S&W represents and warrants to SRA that:

                  4.1.1    S&W is a corporation duly organized, validly existing
and in good standing under the laws of the Delaware;

                  4.1.2    S&W has duly authorized the execution and performance
of this Agreement, and such execution and performance shall not violate any
material term of its certificate of incorporation, bylaws or any agreement by
which S&W is party;

                  4.1.3    S&W is not a foreign person within the meaning of
Section 1445 of the Internal Revenue Code;

<PAGE>

                  4.1.4    S&W has received no written notice of any pending
eminent domain or condemnation proceedings affecting all or any portion of the
Property;

                  4.1.5    Except as set forth on Exhibit G attached and
incorporated herein, S&W has received no written notice of any litigation,
proceeding, suit, action, claim or governmental investigation of any kind
threatened against or relating to the Property or the transaction contemplated
by this Agreement; and

                  4.1.6    To S&W's actual knowledge, no petition in bankruptcy
(voluntary or otherwise), assignment for the benefit of creditors, or petition
seeking reorganization or arrangement or other action under Federal or State
bankruptcy laws is pending against or contemplated by S&W.

         4.2      By SRA. SRA represents and warrants to S&W that:

                  4.2.1    SRA is a public body politic and corporate created
pursuant to General Laws c. 121B, duly formed and validly existing under the
laws of the Commonwealth, as amended, has duly authorized the execution and
performance of this Agreement, and such execution and performance shall not
violate any material term of its certificate of organization;

                  4.2.2    SRA is acting as principal in this transaction with
authority to close the transaction;

                  4.2.3    No petition in bankruptcy (voluntary or otherwise),
assignment for the benefit of creditors, or petition seeking reorganization or
arrangement or other action under Federal or State bankruptcy laws is pending
against or contemplated by SRA;

                  4.2.4    SRA has inspected, or shall inspect prior to closing,
the Property fully and completely at its expense and shall have ascertained to
its satisfaction prior to closing the extent to which the Property complies with
applicable zoning, building, environmental, health and safety and all other
laws, codes and regulations;

                  4.2.5    SRA has reviewed or shall review the leases,
contracts, expenses and other matters relating to the Property and, based upon
its own investigations, inspections, tests and studies, has determined to
purchase the Property and to assume the obligations pursuant to Section 3.7; and

                  4.2.6    Unless otherwise disclosed to S&W in writing, neither
SRA nor any affiliate of or principal in SRA is other than a citizen of, or
partnership, corporation or other form of legal person domesticated in the
United States of America.

         4.3      Mutual. Each of S&W and SRA represents to the other that it
has had no dealings, negotiations, or consultations with any broker,
representative, employee, agent or other intermediary in connection with the
Agreement or the sale of the Property. S&W and SRA agree that each shall
indemnify, defend and hold the other free and harmless from the claims of any
broker(s), representative(s), employee(s), agent(s) or other intermediary(ies)
claiming to have

<PAGE>

represented S&W or SRA, respectively, or otherwise to be entitled to
compensation in connection with this Agreement or in connection with the sale of
the Property. No commission shall be due and payable by S&W or SRA in connection
with the purchase and sale of the Property.

5.       COSTS AND PRORATIONS.

         5.1      Costs. Each party hereto shall be responsible for all costs
and expenses incurred in the performance of its respective obligations hereunder
irrespective of whether the transaction described herein is consummated as set
for herein or this Agreement is terminated prior to the Closing; provided,
however, if this Agreement is not terminated prior to the Closing, then SRA
shall pay at Closing, subject to a maximum aggregate sum of $150,000.00, all (i)
real estate conveyance, transfer, stamp or documentary tax(es) and (ii)
reasonable fees and disbursements of Seller's legal counsel incurred on or after
January 1, 2002. This Section shall survive the Closing or termination of this
Agreement.

         5.2      Prorations. Any income or expense relating to the Property
collected, billed, paid or payable as of the date of Closing, including general
real estate taxes and special assessments relating to the Property, service
contracts and water, sewer and other utility charges, shall be prorated as of
the date of Closing and be adjusted against the Purchase Price due at the
Closing. Except as expressly provided herein, the purpose and intent as to the
provisions of prorations and apportionments set forth in this Section is that
S&W shall bear all expenses of ownership and operation of the Property and shall
receive all income therefrom accruing through midnight at the end of the day
preceding the Closing, and SRA shall bear all such expenses and receive all such
income accruing thereafter.

6.       NOTICES. Any notice required or permitted to be given hereunder shall
be deemed to be given when hand delivered or one business day after pickup by
United Parcel Service, Air Freight, Airborne, Federal Express or other similar
nationally recognized overnight express service, in either case addressed to the
parties at their respective addresses referenced below:

If to S&W:                          Smith & Wesson Corp.
                                    2800 Roosevelt Avenue
                                    Springfield, Massachusetts 01102
                                    Attn: Mr. John A. Kelly

         with a copy to:            Day, Berry & Howard LLP
                                    CityPlace I
                                    Hartford, Connecticut 06103
                                    Attn: Daniel S. Matos, Esq.

If to SRA:                          Springfield Redevelopment Authority
                                    1441 Main Street
                                    Springfield, Massachusetts 01103
                                    Attn: Mr. Robert Warren

<PAGE>

         with a copy to:            Bulkley, Richardson and Gelinas, LLP
                                    1500 Main Street
                                    Springfield, Massachusetts 01115
                                    Attn: Peter H. Barry, Esq.

Either addressee may change its address by written notice to the other
addressee.

7.       CLOSING AND ESCROW.

         7.1      S&W's Deliveries. At the Closing, S&W shall deliver the
following original documents, each executed and, if required, acknowledged:

                  7.1.1    A release deed conveying S&W's interest in the Land
in the form attached hereto as Exhibit D, subject to the Permitted Encumbrances
(the "Deed");

                  7.1.2    Copies of all contracts and leases relating to the
Property to be assumed by SRA, if any, and an assignment of such contracts and
leases to SRA by way of an assignment and assumption agreement (the "Assumption
Agreement") in the form attached hereto as Exhibit E;

                  7.1.3    An affidavit pursuant to the Foreign Investment and
Real Property Tax Act in the form attached hereto as Exhibit F;

                  7.1.4    The Declaration;

                  7.1.5    A certificate of good standing from the State of
Delaware demonstrating that S&W has legal existence and is in good standing
under the laws of Delaware;

                  7.1.6    A certificate from the Commonwealth of Massachusetts
demonstrating that S&W is authorized to do business in the Commonwealth of
Massachusetts;

                  7.1.7    A clerk's certificate demonstrating the corporate
authority of S&W to convey the Property;

                  7.1.8    A customary title certification if required by the
Title Company; and

                  7.1.9    All documents or instruments necessary to withdraw
all litigation listed on Exhibit G.

         7.2      SRA's Deliveries. At the Closing, SRA shall pay the Purchase
Price to S&W as set forth in Section 2.1 and the costs set forth in Section 5.1,
and shall deliver the following original documents, each executed and, if
required, acknowledged:

                  7.2.1    The Assumption Agreement;

<PAGE>

                  7.2.2    Such loan documents as are negotiated by the parties
to evidence and secure the Loan, which loan documents shall reflect the terms
and conditions set forth on Exhibit B and contain such other terms and
conditions reasonably deemed appropriate by S&W's and SRA's counsel; and

                  7.2.3    The policy of title insurance issued by the Title
Company insuring S&W's mortgage interest in the Property in the amount of the
Loan, subject only to the Permitted Encumbrances not otherwise deleted or cured
prior to the Closing.

         7.3      Possession. S&W shall deliver possession of the Property upon
conclusion of the Closing.

         7.4      Insurance. SRA shall be responsible for obtaining its own
insurance with respect to the Property after the date of Closing.

         7.5      Utility Service and Deposits. S&W shall be entitled to the
return of any deposit(s) posted by it with any utility company and SRA shall
notify each utility company serving the Property to terminate S&W's account,
effective at noon on the date of Closing.

         7.6      Notice Letters. Subsequent to Closing, S&W shall provide to
SRA copies of form letters to contractors and utility companies serving the
Property, advising them of the sale of the Property to SRA and directing to SRA
all bills for the services provided to the Property on and after the date of
Closing.

8.       MISCELLANEOUS.

         8.1      Default. If either party hereto shall default under this
Agreement, then the non-defaulting party shall elect as its sole remedy
hereunder to terminate this Agreement and both parties shall be relieved of and
released from any further liability hereunder.

         8.2      Title Standards. Any matter or practice arising under or
relating to this Agreement which is the subject of a title standard or a
practice standard of the Massachusetts Conveyancers Association at the time of
the delivery of the Deed shall be covered by such title standard or practice to
the extent applicable.

         8.3      Entire Agreement. This Agreement, together with the Exhibits
attached hereto, all of which are incorporated by reference, is the entire
agreement between the parties with respect to the subject matter hereof, and no
alteration, modification or interpretation hereof shall be binding unless in
writing and signed by both parties.

         8.4      Severability. If any provision of this Agreement or
application to any party or circumstances shall be determined by any court of
competent jurisdiction to be invalid and unenforceable to any extent, the
remainder of this Agreement or the application of such provision to such person
or circumstances, other than those as to which it is so determined invalid or
unenforceable, shall not be affected thereby, and each provision hereof shall be
valid and shall be enforced to the fullest extent permitted by law.

<PAGE>

         8.5      Applicable Law. This Agreement shall be construed and enforced
in accordance with the laws of the Commonwealth.

         8.6      Assignability. SRA may not assign this Agreement, except to
the City, without first obtaining S&W's written consent. Any assignment in
contravention of this provision shall be void. No assignment shall release SRA
from any obligation or liability under this Agreement. Any permitted assignee
shall be deemed to have made any and all representations and warranties made by
SRA hereunder, as if the assignee were the original signatory hereto.

         8.7      Successors Bound. This Agreement shall be binding upon and
inure to the benefit of SRA and S&W and their successors and permitted assigns.

         8.8      Captions. The captions in this Agreement are inserted only as
a matter of convenience and for reference and in no way define, limit or
describe the scope or content of this Agreement.

         8.9      No Partnership. Nothing contained in this Agreement shall be
construed to create a partnership or joint venture between the parties or their
successors in interest.

         8.10     Attorneys' Fees. In the event of any litigation arising out of
this Agreement, the prevailing party shall be entitled to reasonable attorneys'
fees and costs.

         8.11     Time of Essence. Time is of the essence in this Agreement.

         8.12     Counterparts. This Agreement may be executed and delivered in
any number of counterparts, each of which so executed and delivered shall be
deemed to be an original and all of which shall constitute one and the same
instrument.

         8.13     Recordation. SRA and S&W agree not to record this Agreement or
any memorandum hereof.

         8.14     Proper Execution. The submission by S&W to SRA of this
Agreement in unsigned form shall be deemed to be a submission solely for SRA's
consideration and not for acceptance and execution. Such submission shall have
no binding force and effect, shall not constitute an option, and shall not
confer any rights upon SRA or impose any obligations upon S&W irrespective of
any reliance thereon, change of position or partial performance. The submission
by S&W of this Agreement for execution by SRA and the actual execution and
delivery thereof by SRA to S&W shall similarly have no binding force and effect
on S&W unless and until S&W shall have executed this Agreement and a counterpart
thereof shall have been delivered to SRA.

         8.15     Merger. Except as otherwise expressly provided herein, SRA's
acceptance of the Deed shall be deemed a discharge of all of the obligations of
S&W hereunder.

<PAGE>

         8.16     Interpretation. Any list of one or more items preceded by the
word "including" shall not be deemed limited to the stated items, but shall be
deemed to mean "including, without limitation".

         8.17     Limited Recourse. SRA agrees that it does not have and shall
not have any claims or causes of action against any disclosed or undisclosed
officer, director, employee, trustee, shareholder, partner, principal, parent,
subsidiary or other affiliate of S&W (collectively, the "S&W's Affiliates"),
arising out of or in connection with this Agreement or the transactions
contemplated hereby. SRA agrees to look solely to S&W's assets directly
attributable to the Property for the satisfaction of S&W's liability or
obligation arising under this Agreement or the transactions contemplated hereby,
or for the performance of any of the covenants, warranties or other agreements
of S&W contained herein, and further agrees not to sue or otherwise seek to
enforce any personal obligation against any of the S&W's Affiliates with respect
to any matters arising out of or in connection with this Agreement or the
transactions contemplated hereby.

<PAGE>

         IN WITNESS WHEREOF, SRA and S&W have executed this Agreement as of the
date set forth above.

                                          SMITH & WESSON CORP.

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

                                          SPRINGFIELD REDEVELOPMENT AUTHORITY

                                          By: /s/ Peter Levanos
                                              Name: Peter Levanos
                                              Its: Chairman

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