Document:

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                                                                   EXHIBIT 10.36

                                                             TO BE RECORDED WITH
                                                       THE U.S. COPYRIGHT OFFICE

                          COPYRIGHT SECURITY AGREEMENT

     THIS COPYRIGHT SECURITY AGREEMENT (this "AGREEMENT") is made as of November
8, 2006, by SMITH & WESSON CORP., a Delaware corporation (the "DEBTOR"), to and
with TD BANKNORTH, N.A. (as successor-by-merger to Banknorth, N.A.), a national
banking association (the "SECURED PARTY").

                                    RECITALS

     A. Debtor and Smith & Wesson Holding Corporation have executed and
delivered to Secured Party a certain Amended and Restated Loan and Security
Agreement of even date herewith, as the same may be amended, renewed, restated
or extended from time to time (the "GENERAL SECURITY AGREEMENT"). Capitalized
terms used herein without definition shall have the meanings given to them in
the General Security Agreement.

     B. Debtor has agreed to enter into this Agreement in furtherance of the
rights granted to Secured Party under the General Security Agreement.

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by each of the parties hereto,
Debtor hereby agrees as follows:

     1. SECURITY INTEREST.

          1.1 Debtor hereby grants to Secured Party a continuing security
interest in all copyrights and copyright licenses, and all applications
therefor, now or hereafter owned by Debtor, whether registered or unregistered,
including, but not limited to, those registered copyrights of Debtor listed on
Schedule A attached hereto and made a part hereof (collectively, the
"COPYRIGHTS"), together with all licenses related thereto, all reissues,
continuations or extensions of the foregoing (collectively, the "COLLATERAL"),
as security for the Obligations (as defined in the General Security Agreement).

          1.2 Debtor hereby requests that the U.S. Copyright Office record this
Agreement.

          1.3 For the purpose of enabling Secured Party, during the continuance
of an Event of Default, to exercise rights and remedies under Article IX of the
General Security Agreement at such time as Secured Party shall be lawfully
entitled to exercise such rights and remedies, and for no other purpose, Debtor
hereby grants to Secured Party, to the extent assignable, an irrevocable,
non-exclusive license to use, assign, license or sublicense any trademarks,
service marks, trade names, trade styles, logos, goodwill, copyrights, trade
secrets, franchises, licenses and patents or other Collateral now owned or
hereafter acquired by Debtor (collectively, the "LICENSED COLLATERAL"), wherever
the same may be located, including, without limitation, the following rights:

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     (a) the rights in said Licensed Collateral acquired by the common law of
     the United States or any state thereof or under the law of any foreign
     nation, organization, or subdivision thereof;

     (b) the rights acquired under the statute of any foreign country, or the
     United States, or any state or subdivision thereof, whether by
     registrations of such Licensed Collateral or otherwise;

     (c) the rights acquired in each and every form of said Licensed Collateral
     as used by Debtor notwithstanding that less than all of such forms would be
     registered and not withstanding the form of said Licensed Collateral;

     (d) the right to use or license any party to the use of all or any of said
     Licensed Collateral in connection with the sale of goods and/or the
     rendering of services in the conduct of services advertising, promotion and
     the like anywhere in the world;

     (e) the right to use said Licensed Collateral either in connection with or
     entirely independent from the other collateral securing the Obligations;

     (f) the right to assign, transfer and convey a partial interest or the
     entire interest in any one or more parts of said Licensed Collateral;

     (g) the right to seek registration, foreign or domestic, of any of such
     Licensed Collateral which was not registered as of the date hereof or
     registered subsequently;

     (h) the right to prosecute pending applications (if applicable) for foreign
     or domestic registration (federal or state) of any of such Licensed
     Collateral; and

     (i) the right to access to all media in which any of the Licensed
     Collateral may be recorded or stored and to all computer programs used for
     the compilation or printout hereof.

          1.4 Acquired Property. If Debtor shall at any time after the date
hereof (a) obtain any rights to any additional Collateral or (b) become entitled
to the benefit of any additional Collateral or any renewal or extension thereof,
including any reissue, division, continuation, or continuation-in-part of any
Collateral, or any improvement on any Collateral, the provisions hereof shall
automatically apply thereto and any such item enumerated in the preceding clause
(a) or (b) shall automatically constitute Collateral as if such would have
constituted Collateral at the time of execution hereof and be subject to the
lien and security interest created by this Agreement without further action by
any party. Debtor shall promptly provide to Secured Party written notice of any
of the foregoing and confirm the attachment of the lien and security interest
created by this Agreement to any rights described in clauses (a) and (b) above
by execution of an instrument in form reasonably acceptable to Secured Party and
the filing of any instruments or statements as shall be reasonably necessary to
create, preserve, protect or perfect Secured Party's security interest in such
Collateral. Further, Debtor authorizes

                                       -2-

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Secured Party to modify this Agreement by amending Schedule A hereto to include
any Collateral of Debtor acquired or arising after the date hereof.

     2. REPRESENTATIONS AND WARRANTIES. The Debtor represents and warrants that:

          2.1. Schedule A sets forth as of the date hereof all United States
copyright registrations and applications owned by Debtor.

          2.2. As of the date hereof, the Collateral set forth on Schedule A is
subsisting and has not been adjudged invalid or unenforceable.

          2.3. Debtor has the full power and authority to enter into this
Agreement and perform its terms.

          2.4. Debtor has used proper statutory notice in connection with its
use of the Collateral to the extent commercially practicable and customary
within the relevant industry.

     3. COVENANTS. Debtor covenants and agrees as follows:

          3.1. If Debtor shall purchase, register or otherwise acquire rights to
any new registrable or registered copyright, the provisions of Section 1 shall
automatically apply thereto and annually by the end of the first calendar
quarter following the previous calendar year, Debtor shall provide written
notice to the Secured Party of all applications for registration of Copyrights,
to the extent such applications exist, made during the preceding calendar year,
shall execute an amendment to Schedule A, as applicable, including such
registrations and applications and shall take any other action reasonably
necessary to record Secured Party's interest in such copyrights with the U.S.
Copyright Office.

          3.2. Debtor will continue to use proper statutory notice in connection
with its registration of any of the Collateral to the extent commercially
practicable and customary within the relevant industry.

          3.3. Debtor shall execute, or use its reasonable efforts at its
reasonable expense to cause to be executed, such further documents as may be
reasonably requested by Secured Party in order to effectuate fully the grant of
security interest set forth in Section 1 hereof.

          3.4 Debtor shall (a) promptly notify Secured Party of any adverse
determination in any proceeding or the institution of any proceeding in any
federal, state or local court or administrative body or in the United States
Copyright Office regarding any Collateral (as defined in the General Security
Agreement), Debtor's right to register such Collateral or its right to keep and
maintain such registration in full force and effect, (b) maintain all Collateral
as presently used and operated, except, so long as no Event of Default shall
have occurred and be continuing, as shall be consistent with commercially
reasonable business judgment, (c) not permit to lapse or become abandoned or
become dedicated to the public any Collateral, and not settle or compromise any
pending or future litigation or administrative proceeding with respect to any
such Collateral, in either case except, so long as no Event of Default shall
have occurred

                                       -3-

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and be continuing, as shall be consistent with commercially reasonable business
judgment, (d) promptly notify Secured Party in writing of any event which may be
reasonably expected to materially and adversely affect the value or utility of
any Collateral or the rights and remedies of Secured Party in relation thereto
including a levy or threat of levy or any legal process against any Collateral,
(e) not license any Collateral or amend or permit the amendment of any of the
licenses in any manner that would materially impair the lien on and security
interest in the Collateral created therein hereby, without the consent of
Secured Party, (f) keep complete, accurate and adequate records respecting all
Collateral consistent with past business practice and (g) furnish to Secured
Party, from time to time upon Secured Party's reasonable request therefor,
reasonably detailed statements and amended schedules further identifying and
describing the Collateral and such other materials evidencing or reports
pertaining to any Collateral as Secured Party may from time to time reasonably
request.

          3.5 (a) Subject to subsection (b) below, unless there shall occur and
be continuing any Event of Default, Debtor shall have the right to commence and
prosecute in its own name, as the party in interest, for its own benefit and at
the sole cost and expense of Debtor, such applications for protection of the
Collateral and suits, proceedings or other actions to prevent the infringement,
counterfeiting, unfair competition, dilution, diminution in value or other
damage as are necessary to protect the Collateral. Upon the occurrence and
during the continuance of any Event of Default, Secured Party shall have the
right but shall in no way be obligated to file applications for protection of
the Collateral and/or bring suit in the name of Debtor or the Secured Party to
enforce the Collateral and any license thereunder. In the event of such suit,
Debtor shall, at the reasonable request of Secured Party, do any and all lawful
acts and execute any and all documents requested by Secured Party in aid of such
enforcement and Debtor shall promptly reimburse and indemnify Secured Party for
all costs and expenses incurred by Secured Party in the exercise of its rights
under this Section 3.5 in accordance with the General Security Agreement. In the
event that Secured Party shall elect not to bring suit to enforce the
Collateral, Debtor agrees, at the reasonable request of Secured Party, to take
all commercially reasonable actions necessary, whether by suit, proceeding or
other action, to prevent the infringement, counterfeiting, unfair competition,
dilution, diminution in value of or other damage to any of the Collateral by any
person.

          (b) In the event that any Collateral is infringed, misappropriated or
diluted by a third party, Debtor shall (i) take such actions as Debtor shall
reasonably deem appropriate under the circumstances to protect such Collateral
and (ii) if such Collateral is of material economic value, promptly notify
Secured Party after it learns thereof and sue for infringement, misappropriation
or dilution, to seek injunctive relief where appropriate and to recover any and
all damages for such infringement, misappropriation or dilution.

     4. REMEDIES. After the occurrence and during the continuance of any Event
of Default (as defined in the General Security Agreement), Secured Party may
declare all Obligations secured hereby immediately due and payable and shall
have the remedies set forth in the General Security Agreement and the remedies
of a secured party under the Uniform Commercial Code.

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     5. ATTORNEY-IN-FACT. Debtor hereby appoints Secured Party, as Debtor's
attorney-in-fact (with full power of substitution and resubstitution) with the
power and authority, after the occurrence of any Event of Default, to execute
and deliver, in the name of and on behalf of Debtor, and to cause the recording
of all such further assignments and other instruments as Secured Party deems
necessary in order to protect its interest in the Collateral. Debtor agrees that
all third parties may conclusively rely on any such further assignment or other
instrument so executed, delivered and recorded by Secured Party (or Secured
Party's designee in accordance with the terms hereof) and on the statements made
therein.

     6. RELEASE OF CERTAIN COLLATERAL. Notwithstanding anything herein to the
contrary, and without limiting the rights of the Secured Party under Section
8.06 of the General Security Agreement, the Secured Party shall release its lien
on and security interest in the Collateral upon satisfaction of both of the
following conditions: (i) all Acquisition Loans (as defined in the General
Security Agreement) shall have been paid and satisfied in full and the
Acquisition Loan Commitment (as defined in the General Security Agreement) shall
have been terminated and (ii) no Default or Event of Default shall have occurred
and be continuing.

     7. GENERAL.

          7.1. No course of dealing between Debtor and Secured Party, nor any
failure to exercise, nor any delay in exercising on the part of Secured Party,
any right, power or privilege hereunder or under the General Security Agreement
shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, power or privilege hereunder or thereunder preclude any other or
further exercise thereof or the exercise of any right, power or privilege. No
waiver by Secured Party of any default shall operate as a waiver of any other
default or of the same default on a future occasion.

          7.2. All of Secured Party's rights and remedies with respect to the
Collateral, whether established hereby or by the General Security Agreement, or
by any other agreement or by law shall be cumulative and may be exercised
singularly or concurrently. This Agreement is in addition to, and is not limited
by nor in limitation of, the provisions of the General Security Agreement or any
other security agreement or other agreement now or hereafter existing between
Debtor and Secured Party.

          7.3. If any clause or provision of this Agreement shall be held
invalid and unenforceable in whole or in part in any jurisdiction, then such
invalidity or unenforceability shall affect only such clause or provision, or
part thereof, in such jurisdiction, and shall not in any manner affect such
clause or provision in any other jurisdiction, or any other clause or provision
of this Agreement in any jurisdiction.

          7.4. This Agreement is subject to modification only by a writing
signed by the parties, except as otherwise provided in Section 3.1 hereof.

          7.5. The benefits and obligations of this Agreement shall inure to the
benefit of and be binding upon the respective successors and assignees of the
parties.

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          7.6. The validity and interpretation of this Agreement and the rights
and obligations of the parties shall be governed by the laws (other than the
conflict of laws rules) of the Commonwealth of Massachusetts.

     8. COUNTERPARTS. This Agreement may be executed in any number of
counterparts and by the different parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument.

                      [THE NEXT PAGE IS THE SIGNATURE PAGE]

                                       -6-

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as an instrument under seal by their duly authorized
representatives all as of the day and year first above written.

                                        SMITH & WESSON CORP.

                                        By: /s/ John A. Kelly
                                            ------------------------------------
                                            John A. Kelly
                                            Vice President and Chief Financial
                                            Officer

                                        TD BANKNORTH, N.A. (as
                                        successor-by-merger to Banknorth, N.A.)

                                        By: /s/ Maria P. Goncalves
                                            ------------------------------------
                                            Maria P. Goncalves
                                            Senior Vice President

                         [ACKNOWLEDGEMENTS ON NEXT PAGE]

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                          COMMONWEALTH OF MASSACHUSETTS

Hampden County, ss.

     On this 8th day of November, 2006, before me, the undersigned Notary
Public, personally appeared the above-named John A. Kelly, proved to me by
satisfactory evidence of identification, being (check whichever applies): [ ]
driver's license or other state or federal governmental document bearing a
photographic image, [ ] oath or affirmation of a credible witness known to me
who knows the above signatory, or [X] my own personal knowledge of the identity
of the signatory, to be the person whose name is signed above, and acknowledged
the foregoing to be signed by him voluntarily for its stated purpose, as the
duly-authorized Vice President and Chief Financial Officer of Smith & Wesson
Corp.

                                  /s/ Deborah Ann Roe
                                  ----------------------------------------------
                                  (Print Name of Notary Public): Deborah Ann Roe
                                  My commission expires: 03/27/09
                                  Qualified in the Commonwealth of Massachusetts

                          COMMONWEALTH OF MASSACHUSETTS

Hampden County, ss.

     On this 6 day of November, 2006, before me, the undersigned Notary Public,
personally appeared the above-named Maria P. Goncalves, proved to me by
satisfactory evidence of identification, being (check whichever applies): [ ]
driver's license or other state or federal governmental document bearing a
photographic image, [ ] oath or affirmation of a credible witness known to me
who knows the above signatory, or [X] my own personal knowledge of the identity
of the signatory, to be the person whose name is signed above, and acknowledged
the foregoing to be signed by her voluntarily for its stated purpose, as the
duly-authorized Senior Vice President of TD Banknorth, N.A. (as
successor-by-merger to Banknorth, N.A.).

                                  /s/ Anne Kulik
                                  ----------------------------------------------
                                  (Print Name of Notary Public): Anne Kulik
                                  My commission expires: Dec 22, 2006
                                  Qualified in the Commonwealth of Massachusetts<PAGE>

                                                                   EXHIBIT 10.37

                            REAFFIRMATION OF GUARANTY

     The undersigned entered into a Guaranty (as amended from time to time, the
"GUARANTY") to TD Banknorth, N.A. (as successor-by-merger to Banknorth, N.A.)
(the "LENDER") dated as of January 11, 2005 pursuant to which, among other
matters, they jointly and severally guaranteed the repayment of the following
(i) Revolving Line of Credit Note in the original principal amount of Seventeen
Million and 00/100 Dollars ($17,000,000.00) (the "ORIGINAL REVOLVING NOTE"),
(ii) Commercial Term Promissory Note in the original principal amount of Twelve
Million One Hundred and Four Thousand and 00/100 Dollars ($12,104,000.00), (iii)
Equipment Line of Credit Note in the original principal amount of Five Million
and 00/100 Dollars ($5,000,000.00) (the "ORIGINAL EQUIPMENT LINE NOTE") and (iv)
Commercial Real Estate Term Promissory Note in the original principal amount of
Five Million Eight Hundred Ninety-Six Thousand and 00/100 Dollars
($5,896,000.00), each dated as of January 11, 2005, and each as may be amended
from time to time from Smith & Wesson Corp., a Delaware corporation
("BORROWER"), to the Lender and the performance of Borrower's obligations under
said note and all of the agreements relating thereto (the "LOAN DOCUMENTS"). The
undersigned are aware that Lender and Borrower are entering into (i) amendments
to the Loan Documents (the "AMENDMENTS"), (ii) amendments and restatements of
the Original Revolving Note and the Original Equipment Line Note (collectively,
such amendments and restatements shall be referred to as the "RESTATED NOTES"),
and (iii) an Acquisition Line of Credit Note in the original principal amount of
$30,000,000 (the "ACQUISITION LINE NOTE") on or about even date.

     In order to induce the Lender to consent to these transactions, each of the
undersigned, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, hereby (a) consents to the entry of any documents
by the Borrower relating to the current Amendments, including the Acquisition
Line Note and the Restated Notes; and (b) consents to the Amendments, (c)
warrants that the representations and warranties contained in the Guaranty are
true and correct as of the date hereof, (d) certifies that neither the
undersigned nor any entity in which the undersigned is a principal is in default
under any note or other agreement which would have a material adverse effect on
the undersigned's financial condition, (e) certifies that there are no pending
or threatened legal proceedings against the undersigned which, if resolved
against the undersigned, would have a material adverse affect on the
undersigned's financial condition, (f) certifies that there does not exist any
claim, offset or defense against the Lender with respect to the undersigned's
obligations under the Guaranty, and (g) agrees and confirms that the Guaranty
remains in full force and effect with respect to the Loan Documents and the
transactions described herein.

                     (The next page is the signature page.)

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     IN WITNESS WHEREOF, the undersigned have executed this reaffirmation and
consent as an instrument under seal of the 8th day of November, 2006.

                                        SMITH & WESSON HOLDING CORPORATION

                                        By: /s/ John A. Kelly
                                            ------------------------------------
                                            John A. Kelly
                                            Vice President and Chief Financial
                                            Officer

                          COMMONWEALTH OF MASSACHUSETTS

Hampden County, ss.

     On this 8th day of November, 2006, before me, the undersigned Notary
Public, personally appeared the above-named John A. Kelly, proved to me by
satisfactory evidence of identification, being (check whichever applies): [ ]
driver's license or other state or federal governmental document bearing a
photographic image, [ ] oath or affirmation of a credible witness known to me
who knows the above signatory, or [X] my own personal knowledge of the identity
of the signatory, to be the person whose name is signed above, and acknowledged
the foregoing to be signed by him voluntarily for its stated purpose, as the
duly-authorized Vice President and Chief Financial Officer of Smith & Wesson
Holding Corporation.

                                  /s/ Deborah Ann Roe
                                  ----------------------------------------------
                                  (Print Name of Notary Public): Deborah Ann Roe
                                  My commission expires: 03/27/09
                                  Qualified in the Commonwealth of Massachusetts

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