Document:

<PAGE>   1
                                                                    EXHIBIT 10.8

                              SMITH & WESSON CORP.

                           TRADEMARK LICENSE AGREEMENT

This Agreement is effective as of November 1, 1995, by and between SMITH &
WESSON CORP., a Delaware Corporation with its principal office at 2100 Roosevelt
Avenue, Springfield, Massachusetts 01102-2208, (hereinafter called "Licensor"),
and Olympic Optical Company, a Corporation, having its principal office at 3975
Vantech Drive, Suite 2, Memphis, Tennessee 38115 (hereinafter called
"Licensee"). In consideration of the mutual promises herein contained and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by Licensor and Licensee, the parties agree as follows:

1.       Definitions. As used in this Agreement, the following terms shall have
         the following meanings:

                  a.       "Marks" shall mean those trademarks and service marks
                           identified in Exhibit A, attached hereto, and all of
                           Licensor's rights in such Marks including, without
                           limitation, common law rights, and registrations and
                           applications for registration of any such Marks in
                           any state, federal or other jurisdiction.

                  b.       "Licensed Articles" shall mean the articles of
                           merchandise listed in Exhibit B, attached hereto, and
                           marked with one or more of the Marks.

                  c.       "Net Sales Price" shall be the invoiced price at
                           which Licensed Articles are sold by Licensee, less
                           any sales tax, and less any credits for returns
                           actually made or allowed, provided that such returns
                           relate to sales which were previously included in
                           royalty calculations under this Agreement. There
                           shall be no deduction from the Net Sales Price on
                           which royalties are due hereunder for uncollectible
                           accounts, advertising expenses or other expenses of
                           any kind except those specifically identified in this
                           Section.

                  d.       "Territory" is the geographic area identified in
                           Section 2(a) of this Agreement.

                  e.       "Minimum Guaranteed Royalties" shall have the meaning
                           set forth in Section 3(d) of this Agreement.
<PAGE>   2
                  f.       "Contract Year" and "First Contract Year" shall have
                           the meanings given those respective terms set forth
                           in Section 2(b) of this Agreement.

NOVEMBER 15.  1995
------------------

2.       Grant of License, Term, Licensee's Duties

                  a.       Licensor hereby grants to Licensee an exclusive,
                           nontransferable license to use the Marks in
                           connection with the retail sale as a worldwide
                           agreement of Licensed Articles. Licensee shall not
                           use, or permit the use of, the Marks on any other
                           product or for any service, except as specifically
                           provided in this Agreement. Since Licensor grants
                           Licensee any rights to use the marks in any
                           jurisdiction outside of the United States, Licensee
                           shall take all steps and timely notify Licensor of
                           all steps as shall be necessary to protect Licensor's
                           trademark rights in such marks, and assure Licensor's
                           exclusive ownership, in such jurisdiction.

                  b.       The term of this Agreement shall be for ten years
                           commencing November 1, 1995 and ending December 31,
                           2005 at midnight Eastern Standard Time, unless sooner
                           terminated. Each period from January 1 through
                           December 31 during the term hereof is hereinafter
                           referred to as a "Contract Year", with the exception
                           of the "First Contract Year", which shall be for the
                           period from the date hereof through December 31,
                           1996. This Agreement shall be automatically extended
                           for successive one year periods unless Licensor or
                           Licensee gives the other party written notice of its
                           intention not to extend this Agreement, at least 90
                           days prior to the expiration date of the Agreement or
                           any extension thereof. The contract can only be
                           cancelled with cause.

                  c.       Licensee shall use its best efforts to promote the
                           sale of Licensed Articles in the Territory and shall
                           maintain facilities and trained personnel sufficient
                           and adequate to accomplish Licensee's obligations
                           hereunder.

                  d.       Except as may be specifically provided in this
                           Agreement, nothing in this Agreement shall be
                           construed to prevent Licensor from using, or granting
                           exclusive or nonexclusive licenses to any other
                           persons to use, any of the Marks in connection with
                           any goods or services other than those so stated in
                           Exhibit B.

                                       2
<PAGE>   3
3.       Royalties and Payment, Minimum Guaranteed Royalties, Reporting
         --------------------------------------------------------------

                  a.       Licensee shall pay Licensor a royalty equal to (6%)
                           six percent of the Net Sales Price of all Licensed
                           Articles sold or otherwise distributed by Licensee
                           during or after the term of this Agreement. Licensee
                           shall pay Licensor a royalty of (3%) three percent
                           applied to the sales of the industrial safety market.

                  b.       On or before the thirtieth day of the first month of
                           each calendar quarter, Licensee shall furnish to
                           Licensor full and accurate statements, certified by
                           the Chief Financial Officer of Licensee, showing the
                           number, description and total Net Sales Prices of the
                           Licensed Articles sold or otherwise distributed by
                           Licensee during the preceding calendar quarter.
                           Licensee shall, simultaneously with such statements,
                           pay to Licensor the royalties due thereon. Licensee
                           may credit against any such payment any Minimum
                           Guaranteed Royalty previously paid by Licensee for
                           the Contract Year covered by such quarterly
                           statement, Any Minimum Guaranteed Royalty paid for
                           any Contract Year shall not be refunded to Licensee,
                           and may be credited to royalties due in the next
                           Contract Year.

                           On or before the thirtieth day of the third month
                           following the end of each Contract Year, Licensee
                           shall furnish to Licensor a statement certified by
                           the Chief Financial Officer of Licensee showing total
                           sales of Licensed Articles, royalties due and
                           royalties paid, for the preceding Contract Year. If
                           such statement discloses that the amount of royalties
                           paid during any period to which such statement
                           relates were less than the amount required to be
                           paid, Licensee shall pay such deficiency concurrently
                           with the delivery of the statement.

                  c.       For purposes of this Agreement, a Licensed Article
                           shall be considered sold when such Article has been
                           shipped, distributed, paid for, billed or invoiced,
                           whichever first occurs.

                  d.       Notwithstanding anything to the contrary set forth
                           herein, Licensee shall pay to Licensor minimum
                           royalties ("Minimum Guaranteed Royalties"), as
                           follows:
<TABLE>

                           <S>                                    <C>
                           First Contract Year                    $25,000.00
                           Second Contract Year                   $27,500.00
                           Third Contract Year                    $30,250.00
                           Fourth Contract Year                   $33,275.00
                           Fifth Contract Year                    $36,600.00
</TABLE>

                                       3
<PAGE>   4
<TABLE>
                           <S>                                    <C>
                           Sixth Contract Year                    $40,250.00
                           Seventh Contract Year                  $44,250.00
                           Eighth Contract Year                   $48,700.00
                           Ninth Contract Year                    $53,600.00
                           Tenth Contract Year, and
                           each subsequent Contract
                           Year, or portion thereof,
                           included in the term of
                           this Agreement, until
                           changed by mutual written
                           agreement of the parties               $65,000.00
</TABLE>

                           The Minimum Guaranteed Royalty for the First Contract
                           Year shall be paid upon execution of this Agreement.
                           Thereafter for each Contract Year during which this
                           Agreement is in effect, the Minimum Guaranteed
                           Royalty for such Contract year shall be paid at the
                           end of the quarter during which they were earned,
                           pursuant to Section 3(b) of this Agreement, during
                           such contract Year.

                  e.       Any delinquent amounts under this Agreement shall
                           bear simple interest at the rate of 1.5 percent per
                           month, or if lower, the highest rate permitted by
                           law, from the due date thereof until paid.

4.       Protection of Marks
         -------------------

                  a.       Licensee acknowledges Licensor's exclusive right,
                           title and interest in and to the Marks, both at
                           common law and under other applicable laws, and will
                           not, either directly or indirectly, at any time, do
                           anything to discredit any part of such right, title
                           or interest or challenge the validity of this
                           License. Licensee agrees that its use of the Marks
                           will inure entirely to the benefit of Licensor.
                           Licensee shall assist Licensor, to the extent
                           necessary, upon request by Licensor, in the
                           procurement of any protection of Licensor's rights in
                           the Marks. Upon Licensor's request from time to time,
                           Licensee shall provide Licensor with six specimens of
                           any Mark used on Licensed Articles and whatever other
                           documentation or information may be requested by
                           Licensor for the registration of any Mark in any
                           category into which the Licensed Articles fall.

                  b.       Licensee shall use the Marks only in the form and
                           manner and with appropriate legends as prescribed
                           from time to time by Licensor, and shall not use any
                           other trademark or service mark

                                       4
<PAGE>   5
                           in combination with any Mark without prior written
                           approval of Licensor. In any written materials, such
                           as the packaging, advertising materials, catalogs,
                           brochures and the like associated with the Licensed
                           Articles, in addition to the "(R)" or "TM" symbol
                           displayed adjacent to the Mark, as appropriate,
                           Licensee shall use the following notice at least once
                           in each such document: "Licensed Trademark of Smith &
                           Wesson Corp."

                  c.       Licensee recognizes that the SMITH & WESSON name and
                           associated marks are world famous and that, even if
                           not registered in any country, the unauthorized use
                           thereof would seriously dilute the distinctiveness of
                           such name and the Marks.

                  d.       Licensee shall immediately notify Licensor in writing
                           of any infringements or imitations by other persons
                           of any Mark, of which Licensee becomes aware.
                           Licensor shall have the sole right to determine
                           whether or not any action shall be taken on account
                           of such infringements or imitations. Licensee shall
                           not institute any suit or take any action on account
                           of any such infringements or imitations without first
                           obtaining the written consent of Licensor to do so.

5.       Assignment of Marks
         -------------------

                  If Licensee shall acquire any rights in the marks in any
                  country, Licensee shall notify Licensor and immediately assign
                  such right to Licensor. Licensee shall not permit any other
                  person to use any of the Marks without Licensor's prior
                  written consent, and shall cause any manufacturer or other
                  person involved in the production, promotion or sale of
                  Licensed Articles to agree to assign to Licensor any rights in
                  any Mark acquired by such manufacturer or other person.

6.       Indemnification
         ---------------

                  a.       Licensee shall at all times, and to the fullest
                           extent permitted by law, indemnify and hold harmless
                           Licensor and its successors, assigns, franchisees,
                           subsidiaries, affiliates, licensing agents and
                           distributors, and the directors, officers, agents and
                           employees of each of the foregoing entities, from and
                           against any and all damages, demands, claims, suits,
                           actions, investigations, charges, costs and expenses
                           including, without limitation, attorneys fees and
                           court costs, settlement amounts, judgments,
                           compensation for damage to Licensor's reputation, and
                           any losses of any nature, which arise out of or are
                           based upon any of the following:

                                       5
<PAGE>   6
                                    (1)      Any actual or alleged design
                                             defect, manufacturing defect,
                                             failure to warn or instruct, breach
                                             of warranty, negligence, strict
                                             liability in tort or any other
                                             product liability legal theory
                                             associated with the Licensed
                                             Articles;

                                    (2)      The infringement, alleged
                                             infringement or any other violation
                                             or alleged violation of any patent,
                                             trademark or copyright rights or
                                             other proprietary rights owned or
                                             controlled by third parties by
                                             reason of the manufacture, use,
                                             advertising, sale or distribution
                                             of the Licensed Articles except for
                                             trademark actions arising out of
                                             Licensee's approved use of the
                                             Marks;

                                    (3)      The violation, or alleged
                                             violation, of any federal, state or
                                             local law, regulation, ruling,
                                             standard or directive or of any
                                             industry standard with respect to
                                             the Licensed Articles;

                                    (4)      Licensee's breach of any warranty,
                                             representation, agreement or
                                             obligation hereunder; or

                                    (5)      Any other acts or omissions of
                                             Licensee, or its agents, servants
                                             or contractors with respect to the
                                             manufacture, promotion or sale of
                                             Licensed Articles.

                  b.       Licensee shall promptly give Licensor notice of any
                           action, suit, proceeding, claim, demand, inquiry or
                           investigation relating to the Marks or the Licensed
                           Articles. Licensor may at its sole option, elect to
                           undertake the defense of any such action, suit,
                           proceeding, claim, demand, inquiry or investigation,
                           provided that such an undertaking by Licensor shall
                           not diminish Licensee's obligation hereunder to
                           indemnify Licensor and to hold it harmless. Licensor
                           may, at any time and without notice, order or consent
                           to a recall, the making of refunds or settlements, or
                           the giving of notice to consumers or similar remedies
                           with respect to the Licensed Articles. All losses and
                           expenses incurred under this Section shall be
                           chargeable to Licensee pursuant to its obligations of
                           indemnity under this Section, regardless of any
                           actions, activity or defense undertaken by Licensor
                           or Licensee or the subsequent success or failure of
                           such actions, activity or defense.

                                       6
<PAGE>   7
                  c.       Licensor assumes no liability whatsoever for the acts
                           and omissions of Licensee, or any of those with whom
                           Licensee may contract for the manufacture,
                           distribution or sale of Licensed Articles,
                           notwithstanding any prior consent by Licensor to such
                           contract.

7.       Insurance
         ---------

                  Licensee shall maintain, throughout the term of this
                  Agreement, at its own expense, liability insurance, from an
                  insurance company, with such liability coverages and limits,
                  as are acceptable to Licensor. Such policies shall name
                  Licensor as an additional insured and shall provide that
                  Licensor shall receive at least 30 days prior written notice
                  of intent to cancel, alter or amend such policy. Licensee
                  shall provide Licensor upon execution of this Agreement and
                  upon Licensor's request from time to time thereafter, with
                  certificates or other evidence of insurance required by this
                  Section. Licensee shall keep all insurance coverages required
                  by this Agreement in full force and effect for a period of
                  three years after the termination of this Agreement.

8.       Quality of Licensed Articles
         ----------------------------

                  a.       Licensee agrees, and represents and warrants to
                           Licensor, that all Licensed Articles shall be
                           competitive and at a quality level in line with the
                           retail price, and of high safety and structural
                           standards, of such style, appearance, quality and
                           consistency as shall be suitable for distribution and
                           satisfactory for consumer usage, and otherwise
                           merchantable and fit for the purposes for which they
                           are intended to be used. Before manufacturing any
                           Licensed Article, and upon Licensor's request from
                           time to time, Licensee shall submit to Licensor, for
                           its written approval of the Mark usage, samples of
                           each Licensed Article together with any labeling or
                           packaging in which such Licensed Article is to be
                           marketed or sold. The number of samples to be
                           furnished by Licensee shall be such reasonable number
                           as Licensor may from time to time request. All
                           samples shall be provided without charge to Licensor.
                           No Licensed Article shall be distributed or sold
                           pursuant to this Agreement until Licensee has
                           obtained Licensor's written approval of the samples
                           submitted. Licensor will forward written
                           approval/disapproval within 15 working days.

                  b.       All Licensed Articles shall be of the same quality
                           and workmanship as the approved sample, and in the
                           manufacture

                                       7
<PAGE>   8
                           thereof, Licensee shall cause to be used
                           state-of-the-art manufacturing processes, techniques
                           and quality control procedures in order to ensure
                           that the Licensed Articles will consistently comply
                           with the highest product quality standards. Under no
                           circumstances shall Licensee sell, distribute, give
                           away or otherwise deal in Licensed Articles that are
                           seconds, that bear a distortion of the Marks or that
                           do not comply with this Agreement.

                  c.       Licensor has a clear policy of meeting our customer's
                           needs and expectations. We must insist that this
                           policy be espoused by any Smith & Wesson licensee, as
                           to act otherwise would undermine the Licensor's
                           corporate commitment to customer satisfaction. Any
                           licensee must provide Licensor with a reasonable and
                           refillable supply of no-charge merchandise for us to
                           quickly initiate exchanges when necessary. We also
                           will when required refund the purchase price of a
                           product deemed unacceptable by the user/consumer and
                           expect to be reimbursed for any such costs by the
                           product's supplier. Licensor will supply a quarterly
                           accounting of any and all transactions relating to
                           customer satisfaction with the specific supplier.

                  d.       Licensee shall consistently distinguish the Licensed
                           Articles from other products manufactured and sold by
                           Licensee and shall avoid confusing similarity between
                           such other products and the Licensed Articles.
                           Licensee shall take such actions as are necessary to
                           maintain the Licensed Articles as separate and
                           distinct lines of styling, design and merchandising
                           from any other product manufactured or sold by
                           Licensee applicable to all future products.

                  e.       Licensee shall, no later than 180 days before the
                           expiration of any original or extended term of this
                           Agreement, furnish Licensor a statement showing the
                           number and description of Licensed Articles in
                           inventory and in process.

9.       Compliance with Government Standards and Product Testing
         --------------------------------------------------------

                  a.       Licensee agrees that the manufacture, distribution
                           and sale of the Licensed Articles will conform at all
                           times to all applicable federal, state and local
                           laws, regulations, industry standards, ordinances and
                           other enactments, including, without limitation,
                           those relating to product safety.

                                       8
<PAGE>   9
10.      Promotional Material
         --------------------

                  Licensee shall not use the Marks or any reproduction thereof
                  in any advertising, promotional or display material without
                  Licensor's prior written approval. Under no circumstances will
                  promotional materials or programs be used by Licensee that
                  reflect unfavorably on the Marks. All advertising, display or
                  promotional copy utilizing or in any way connected with the
                  Marks, shall carry a notice that the Marks are the property of
                  Licensor. One copy of such advertising, display or promotional
                  copy shall be submitted to Licensor for prior written approval
                  in advance of production and upon Licensors request from time
                  to time thereafter. Any approval granted by Licensor under
                  this Section will extend only to Licensee's use of the Marks.
                  Licensor shall not be liable for content or accuracy of such
                  advertising, promotional or display material nor for
                  infringement of patents, copyrights, trademarks, or any other
                  proprietary rights owned, used, or controlled by third
                  parties, by reason of Licensee's promotional activities.

11.      Records
         -------

                  a.       Licensee shall keep accurate books of account and
                           records covering all transactions relating to the
                           license herein granted. Licensor and its duly
                           authorized independent accountants or other
                           representatives shall have the right at reasonable
                           times, upon Licenser's request from time to time, to
                           examine such books of account and records and all
                           other documents and material in Licensee's possession
                           or under its control with respect to Licensee's
                           activities in connection with this Agreement, and
                           such persons shall have free and full access for such
                           purposes and may make copies thereof or extracts
                           therefrom. Licensee shall keep all such records
                           available to Licensor for at least three years after
                           expiration or termination of this Agreement. Licensee
                           will designate a symbol or number which will be used
                           exclusively in connection with the Licensed Articles
                           and with no other articles which Licensee may
                           manufacture, sell or distribute, and that duplicates
                           of all billings by Licensee to its customers with
                           respect to Licensed Articles shall be kept by
                           Licensee for inspection as is herein provided.

                  b.       If any audit by Licensor shall reveal a shortfall of
                           royalties paid by Licensee against royalties actually
                           due in accordance with this Agreement, Licensee shall
                           immediately, upon demand by Licensor, make payment to
                           Licensor or such shortfall, plus simple interest at
                           prime rate per month or if lower, the highest rate
                           permitted by law, for the period of such shortfall.
                           In

                                       9
<PAGE>   10
                           addition, if such audit shall reveal a shortfall of
                           more than five percent of royalty due, Licensee shall
                           reimburse Licensor for the services of its accountant
                           and for any other expenses of Licensor incident
                           thereto including, without limitation, any attorney's
                           fees and costs of collection.

12.      Termination
         -----------

                  In addition to any other rights which Licensor may otherwise
                  have, Licensor may terminate this Agreement at any time,
                  immediately upon written notice:

                  a.       If within three months from the date of this
                           Agreement, Licensee shall not have begun the bona
                           fide production, distribution and sale of the
                           Licensed Articles; or

                  b.       If Licensee shall thereafter fail for a consecutive
                           period in excess of three months to continue the bona
                           fide distribution and sale of the Licensed Articles;
                           or

                  c.       If Licensee shall fail to make any payment due
                           hereunder or to deliver any of the statements
                           required hereunder, and if such default shall
                           continue for a period of 15 days after notice of such
                           default by Licensor to Licensee or if such a failure
                           shall occur twice in any 12-month period even if both
                           failures are corrected as provided hereunder; or

                  d.       If Licensee or its property, where appropriate:

                                    1)       Becomes subject to a receiver or
                                             trustee; or
                                    2)       Becomes insolvent; or
                                    3)       Becomes subject to an involuntary
                                             or voluntary petition under the
                                             United States Bankruptcy Laws, as
                                             amended; or
                                    4)       Makes an assignment for the benefit
                                             of its creditors; or

                  e.       If there is any deliberate deficiency in the
                           Licensee's reporting which affects royalties payable
                           or any other aspect of this Agreement; or

                  f.       If any warranty, representation or covenant made by
                           Licensee hereunder, or any information as to product
                           quality or safety provided by Licensee hereunder, is
                           false or misleading; or

                                       10
<PAGE>   11
                  g.       If Licensee fails to comply with any term or
                           condition of this Agreement, other than those
                           specifically set forth in clauses a through f above,
                           and such non-compliance continues for a period of 15
                           days after notice thereof is given by the Licensor.

Any termination by Licensor shall be without prejudice to any of Licensor's
other rights or remedies.

13.      Effect of Termination
         ---------------------

                  a.       After expiration or other termination of this
                           Agreement, Licensee shall have no further right to
                           manufacture, distribute, sell, exploit or otherwise
                           deal in any Licensed Articles which utilize the Marks
                           except that Licensee may dispose of Licensed Articles
                           which are on hand or in process at the time of
                           expiration or termination so long as (1) Licensee
                           reports in writing to Licensor, no later than 30 days
                           after termination of this Agreement, the total number
                           of Licensed Articles which will be disposed of, (2)
                           the sale thereof is completed within six months, (3)
                           all payments when due are made to Licensor, (4) such
                           disposal of Licensed Articles shall be in accordance
                           with the terms of this Agreement, and (5) statements
                           and royalty payments with respect to that period are
                           made by Licensee in accordance with Section 3.
                           Notwithstanding the foregoing, in the event this
                           Agreement is terminated pursuant to Sections 12(c),
                           12(d), 12(e), 12(f), or 12(g), Licensee shall not
                           dispose of any Licensed Articles which are on hand or
                           in process at the time of termination, but shall
                           instead immediately deliver and turn over such
                           Licensed Articles to Licensor. A final statement and
                           payment shall be made by Licensee within 15 days
                           after the end of such six month period. Upon
                           expiration of such six-month period herein, any
                           remaining inventory of Licensed Articles and all
                           molds, plates, prints and other materials used to
                           reproduce the Marks for the manufacture of the
                           Licensed Articles shall be destroyed and evidence of
                           such destruction shall be given to the Licensor.

                  b.       In the event this Agreement expires or is otherwise
                           terminated for any reason, Licensee shall, and hereby
                           does, assign to Licensor any and all rights of
                           Licensee in the Marks, including associated goodwill,
                           and the designs and styles of the Licensed Articles
                           to the extent such design or styles contain or employ
                           any of the Marks, and shall not thereafter
                           manufacture or sell any such designs or styles or use
                           the Marks in any manner.

                                       11
<PAGE>   12
                  c.       Except as provided in subsection a), upon the
                           expiration or termination of this Agreement, Licensee
                           shall immediately cease all further use of the Marks
                           and any names, trademarks, characters, symbols,
                           designs, likenesses or visual representations as
                           might be likely to cause confusion or deceive
                           purchasers or prospective purchasers or dilute any
                           trade name, trademark or service mark of Licensor
                           including, without limitation, Licensor's corporate
                           and private names, other trademarks, symbols,
                           designations, indices, slogans and other means of
                           identifying products or services of Licensor, whether
                           or not identified herein as a Mark.

                  d.       Licensee agrees that the Marks are distinctive and
                           possess special, unique and extraordinary
                           characteristics which make difficult the assessment
                           of the monetary damages that Licensor would sustain
                           by unauthorized use. Licensee recognizes that
                           irreparable injury would be caused to Licensor by
                           unauthorized use of the Marks and agrees that
                           injunctive and other equitable relief would be
                           appropriate in the event of a breach of this
                           Agreement by Licensee, provided, however, that such
                           remedy shall not be exclusive of other legal remedies
                           otherwise available.

                  e.       Licensee's obligations and agreements set forth in
                           Sections 3 through 11, 13, 14, 17, 19 and 20 survive
                           any termination or expiration of this Agreement.

14.      Notices
         -------

                  All notices and statements to be given hereunder shall be in
                  writing, and any such notice or statement shall be deemed duly
                  given if mailed by certified mail, return receipt requested,
                  if to Licensor, at:

                           Smith & Wesson Corp.
                           2100 Roosevelt Avenue
                           P.O.  Box 2208
                           Springfield, MA 01102-2208

                                                         Attention: Jack Sweeney
                                                           Director of Licensing

                                       12
<PAGE>   13
and if to Licensee, at:

                           Olympic Optical Company
                           3975 Vantech Drive, Suite 2
                           Memphis, TN 38115

                                                        Attention: Winston Wolfe
                                                                       President

15.      No Joint Venture
         ----------------

                  Nothing in this Agreement shall be construed to place the
                  parties in the relationship of partners or joint ventures, and
                  Licensee shall have no power to bind Licensor in any manner
                  whatsoever.

16.      Cancellation
         ------------

                  Licensee acknowledges that Licensor and its subsidiaries,
                  affiliates and franchisees use the Marks to advance and
                  promote Licensor's business, and that Licensor has a paramount
                  obligation to preserve its ability to so use such Marks.
                  Should the use by Licensee of any Mark on Licensed Articles be
                  deemed by Licensor to be in violation of any federal, state or
                  local law or to adversely affect the reputation of Licensor or
                  affect the validity, enforceability or distinctiveness of the
                  Mark as a designation of origin for Licensor's own products,
                  then Licensor may terminate this Agreement on 15 days notice
                  to Licensee in the event of an actual violation.

17.      Assignments, Transfers and Sublicenses
         --------------------------------------

                  Without the prior written consent of Licensor, which may be
                  withheld in Licensor's sole discretion, a) Licensee shall not
                  voluntarily or by operation of law, assign or transfer this
                  Agreement or any of Licensee's rights or duties hereunder or
                  any interest of Licensee herein, nor shall Licensee enter into
                  any sublicense for use of the Marks by other persons; b)
                  Licensee shall not sell or otherwise transmit or transfer to
                  any party engaged in the design or manufacture of items
                  similar to any of the Licensed Articles, any design, style,
                  know-how, technology or other item or knowledge of a technical
                  or competitive nature, furnished to Licensee by or through
                  Licensor. Any transfer of any interest in Licensee to any
                  entity in which the present controlling shareholders of
                  Licensee do not have voting control shall be deemed an
                  assignment prohibited hereunder. The consent of Licensor to
                  one assignment, transfer or sublicense shall not be deemed to
                  be consent to any subsequent assignment, transfer or
                  sublicense. Nothing provided herein shall limit Licensor's
                  right to transfer and assign any of its rights

                                       13
<PAGE>   14
                  hereunder. Any transfer of interest in Licensee would only be
                  permissible with the consent of Licensor.

18.      Scope and Modification
         ----------------------

                  This Agreement sets forth the entire agreement between the
                  parties, and supersedes all prior agreements and
                  understandings between the parties, relating to the subject
                  matter hereof. None of the terms of this Agreement may be
                  waived or modified except as expressly agreed in writing by
                  both parties.

19.      Severability
         ------------

                  Should any provision of this Agreement be declared void or
                  unenforceable, the validity of the remaining provisions shall
                  not be affected thereby.

20.      Governing Laws
         --------------

                  This Agreement shall be interpreted in accordance with and
                  governed by the laws of the Commonwealth of Massachusetts.

                  The parties hereto have executed this Agreement as the date at
                  the beginning hereof.
<TABLE>
<CAPTION>
<S>                                         <C>
                                            Licensor:

                                            SMITH & WESSON CORP.

Witnessed By:

  /s/ Peggy M. Cowell                       By:      /s/ Robert L. Scott
--------------------------------------         -------------------------------------------
                                            (Title)  Vice President Sales & Marketing
                                                   ---------------------------------------

                                            Licensee:

  /s/ John Hardison                         By:      /s/ Winston Wolfe
--------------------------------------         -------------------------------------------
                                            (Title)        President
                                                   ---------------------------------------
</TABLE>

                                       14
<PAGE>   15
                           EXHIBIT A - Licensed Marks

Smith & Wesson

 .357 Magnum

Magnum

LadySmith

Airweight

Kit Gun

Chiefs Special

Combat Magnum

44 Magnum

Service Kit Gun

Target Kit Gun

 .357 Combat Magnum

Distinguished Combat Magnum

Distinguished Service Magnum

                                       15
<PAGE>   16
                          EXHIBIT B - Licensed Articles

Sunglasses

Shooting Glasses

Hearing Protection inclusive of ear plugs and ear muffs

Eye and Hearing Protection Combinations

Industrial Safety Eyewear

                                       16<PAGE>   1
                                                                   EXHIBIT 10.9

                              SMITH & WESSON CORP.

                           TRADEMARK LICENSE AGREEMENT

This Agreement is effective as of December 1, 1995, by and between SMITH &
WESSON CORP., a Delaware Corporation with its principal office at 2100 Roosevelt
Avenue, Springfield, Massachusetts 01102-2208, (hereinafter called "Licensor"),
and Taylor Cutlery, a Corporation, having its principal office at 1736 North
Eastman Road, Kingsport, Tennessee 37662 (hereinafter called "Licensee"). In
consideration of the mutual promises herein contained and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by Licensor and Licensee, the parties agree as follows:

1.       Definitions. As used in this Agreement, the following terms shall have
         the following meanings:

         a.       "Marks" shall mean those trademarks and service marks
                  identified in Exhibit A, attached hereto, and all of
                  Licensor's rights in such Marks including, without limitation,
                  common law rights, and registrations and applications for
                  registration of any such Marks in any state, federal or other
                  jurisdiction.

         b.       "Licensed Articles" shall mean the articles of merchandise
                  listed in Exhibit B, attached hereto, and marked with one or
                  more of the Marks.

         c.       "Net Sales Price" shall be the invoiced price at which
                  Licensed Articles are sold by Licensee, less any sales tax,
                  and less any credits for returns actually made or allowed,
                  provided that such returns relate to sales which were
                  previously included in royalty calculations under this
                  Agreement. There shall be no deduction from the Net Sales
                  Price on which royalties are due hereunder for uncollectible
                  accounts, advertising expenses or other expenses of any kind
                  except those specifically identified in this Section.

         d.       "Territory" is the geographic area identified in Section 2(a)
                  of this Agreement.

         e.       "Minimum Guaranteed Royalties" shall have the meaning set
                  forth in Section 3(d) of this Agreement.

         f.       "Contract Year" and "First Contract Year" shall have the
                  meanings given those respective terms set forth in Section
                  2(b) of this Agreement.

DECEMBER 1. 1995
----------------
<PAGE>   2
                                       2

2.       Grant of License, Term, Licensee's Duties
         -----------------------------------------

         a.       Licensor hereby grants to Licensee an exclusive,
                  nontransferable license to use the Marks in connection with
                  the retail sale as a worldwide agreement of Licensed Articles.
                  Licensee shall not use, or permit the use of, the Marks on any
                  other product or for any service, except as specifically
                  provided in this Agreement. Since Licensor grants Licensee any
                  rights to use the marks in any jurisdiction outside of the
                  United States, Licensee shall take all steps and timely notify
                  Licensor of all steps as shall be necessary to protect
                  Licensor's trademark rights in such marks, and assure
                  Licensor's exclusive ownership, in such jurisdiction.

         b.       The term of this Agreement shall be for five years commencing
                  December 1, 1995 and ending December 31, 2000 at midnight
                  Eastern Standard Time, unless sooner terminated. Each period
                  from January 1 through December 31 during the term hereof is
                  hereinafter referred to as a "Contract Year", with the
                  exception of the "First Contract Year", which shall be for the
                  period from the date hereof through December 31, 1996. This
                  Agreement shall be automatically extended for successive
                  one-year periods unless Licensor or Licensee gives the other
                  party written notice of its intention not to extend this
                  Agreement, at least 90 days prior to the expiration date of
                  the Agreement or any extension thereof. The contract can only
                  be cancelled with cause.

         c.       Licensee shall use its best efforts to promote the sale of
                  Licensed Articles in the Territory and shall maintain
                  facilities and trained personnel sufficient and adequate to
                  accomplish Licensee's obligations hereunder.

         d.       Except as may be specifically provided in this Agreement,
                  nothing in this Agreement shall be construed to prevent
                  Licensor from using, or granting exclusive or nonexclusive
                  licenses to any other persons to use, any of the Marks in
                  connection with any goods or services other than those so
                  stated in Exhibit B.

3.       Royalties and Payment, Minimum Guaranteed Royalties, Reporting
         --------------------------------------------------------------

         a.       Licensee shall pay Licensor a royalty equal to (7%) seven
                  percent of the Net Sales Price of all Licensed Articles sold
                  or otherwise distributed by Licensee during or after the term
                  of this Agreement.

         b.       On or before the thirtieth day of the first month of each
                  calendar quarter, Licensee shall furnish to Licensor full and
                  accurate statements, certified by the Chief Financial Officer
                  of Licensee, showing the number, description and total Net
                  Sales Prices of the Licensed Articles sold or otherwise
                  distributed by Licensee during the preceding calendar quarter.
                  Licensee shall, simultaneously with such statements, pay to
                  Licensor the royalties
<PAGE>   3
                                       3

                  due thereon. Licensee may credit against any such payment any
                  Minimum Guaranteed Royalty previously paid by Licensee for the
                  Contract Year covered by such quarterly statement, Any Minimum
                  Guaranteed Royalty paid for any Contract Year shall not be
                  refunded to Licensee, and may be credited to royalties due in
                  the next Contract Year.

                  On or before the thirtieth day of the third month following
                  the end of each Contract Year, Licensee shall furnish to
                  Licensor a statement certified by the Chief Financial Officer
                  of Licensee showing total sales of Licensed Articles,
                  royalties due and royalties paid, for the preceding Contract
                  Year. If such statement discloses that the amount of royalties
                  paid during any period to which such statement relates were
                  less than the amount required to be paid, Licensee shall pay
                  such deficiency concurrently with the delivery of the
                  statement.

         c.       For purposes of this Agreement, a Licensed Article shall be
                  considered sold when such Article has been shipped,
                  distributed, paid for, billed or invoiced, whichever first
                  occurs.

         d.       Notwithstanding anything to the contrary set forth herein,
                  Licensee shall pay to Licensor minimum royalties ("Minimum
                  Guaranteed Royalties"), as follows:
<TABLE>
                  <S>                                             <C>
                  First Contract Year                               $70,000.00

                  Second Contract Year                              $77,000.00

                  Third Contract Year                               $84,700.00

                  Fourth Contract Year                              $93,200.00

                  Fifth Contract Year and each
                  subsequent Contract Year, or portion
                  thereof, included in the term of this
                  Agreement, until changed by mutual
                  written agreement of the parties                 $102,450.00
</TABLE>

                  The Minimum Guaranteed Royalty for the First Contract Year and
                  for each year that this Agreement is in effect shall be paid
                  at the end of the quarter during which they were earned,
                  pursuant to Section 3(b) of this Agreement, during such
                  contract year.

         e.       Any delinquent amounts under this Agreement shall bear simple
                  interest at the rate of 1.5 percent per month, or if lower,
                  the highest rate permitted by law, from the due date thereof
                  until paid.
<PAGE>   4
                                       4

4.       Protection of Marks
         --------------------

         a.       Licensee acknowledges Licensor's exclusive right, title and
                  interest in and to the Marks, both at common law and under
                  other applicable laws, and will not, either directly or
                  indirectly, at any time, do anything to discredit any part of
                  such right, title or interest or challenge the validity of
                  this License. Licensee agrees that its use of the Marks will
                  inure entirely to the benefit of Licensor. Licensee shall
                  assist Licensor, to the extent necessary, upon request by
                  Licensor, in the procurement of any protection of Licensor's
                  rights in the Marks. Upon Licensor's request from time to
                  time, Licensee shall provide Licensor with six specimens of
                  any Mark used on Licensed Articles and whatever other
                  documentation or information may be requested by Licensor for
                  the registration of any Mark in any category into which the
                  Licensed Articles fall.

         b.       Licensee shall use the Marks only in the form and manner and
                  with appropriate legends as prescribed from time to time by
                  Licensor, and shall not use any other trademark or service
                  mark in combination with any Mark without prior written
                  approval of Licensor. In any written materials, such as the
                  packaging, advertising materials, catalogs, brochures and the
                  like associated with the Licensed Articles, in addition to the
                  "(R)" or "TM" symbol displayed adjacent to the Mark, as
                  appropriate, Licensee shall use the following notice at least
                  once in each such document: "Licensed Trademark of Smith &
                  Wesson Corp."

         c.       Licensee recognizes that the SMITH & WESSON name and
                  associated marks are world famous and that, even if not
                  registered in any country, the unauthorized use thereof would
                  seriously dilute the distinctiveness of such name and the
                  Marks.

         d.       Licensee shall immediately notify Licensor in writing of any
                  infringements or imitations by other persons of any Mark, of
                  which Licensee becomes aware. Licensor shall have the sole
                  right to determine whether or not any action shall be taken on
                  account of such infringements or imitations. Licensee shall
                  not institute any suit or take any action on account of any
                  such infringements or imitations without first obtaining the
                  written consent of Licensor to do so.

5.       Assignment of Marks

         If Licensee shall acquire any rights in the marks in any country,
         Licensee shall notify Licensor and immediately assign such right to
         Licensor. Licensee shall not permit any other person to use any of the
         Marks without Licensor's prior written consent, and shall cause any
         manufacturer or other person involved in the production, promotion or
         sale of Licensed Articles to agree to assign to Licensor any rights in
         any Mark acquired by such manufacturer or other person.
<PAGE>   5
                                       5

6.       Indemnification
         ---------------

         a.       Licensee shall at all times, and to the fullest extent
                  permitted by law, indemnify and hold harmless Licensor and its
                  successors, assigns, franchisees, subsidiaries, affiliates,
                  licensing agents and distributors, and the directors,
                  officers, agents and employees of each of the foregoing
                  entities, from and against any and all damages, demands,
                  claims, suits, actions, investigations, charges, costs and
                  expenses including, without limitation, attorneys fees and
                  court costs, settlement amounts, judgments, compensation for
                  damage to Licensor's reputation, and any losses of any nature,
                  which arise out of or are based upon any of the following:

                  (1)      Any actual or alleged design defect, manufacturing
                           defect, failure to warn or instruct, breach of
                           warranty, negligence, strict liability in tort or any
                           other product liability legal theory associated with
                           the Licensed Articles;

                  (2)      The infringement, alleged infringement or any other
                           violation or alleged violation of any patent,
                           trademark or copyright rights or other proprietary
                           rights owned or controlled by third parties by reason
                           of the manufacture, use, advertising, sale or
                           distribution of the Licensed Articles except for
                           trademark actions arising out of Licensee's approved
                           use of the Marks;

                  (3)      The violation, or alleged violation, of any federal,
                           state or local law, regulation, ruling, standard or
                           directive or of any industry standard with respect to
                           the Licensed Articles;

                  (4)      Licensee's breach of any warranty, representation,
                           agreement or obligation hereunder; or

                  (5)      Any other acts or omissions of Licensee, or its
                           agents, servants or contractors with respect to the
                           manufacture, promotion or sale of Licensed Articles.

         b.       Licensee shall promptly give Licensor notice of any action,
                  suit, proceeding, claim, demand, inquiry or investigation
                  relating to the Marks or the Licensed Articles. Licensor may
                  at its sole option, elect to undertake the defense of any such
                  action, suit, proceeding, claim, demand, inquiry or
                  investigation, provided that such an undertaking by Licensor
                  shall not diminish Licensee's obligation hereunder to
                  indemnify Licensor and to hold it harmless. Licensor may, at
                  any time and without notice, order or consent to a recall, the
                  making of refunds or settlements, or the giving of notice to
                  consumers or similar remedies with respect to the Licensed
                  Articles. All losses and expenses incurred under this Section
                  shall be chargeable to
<PAGE>   6
                                       6

                  Licensee pursuant to its obligations of indemnity under this
                  Section, regardless of any actions, activity or defense
                  undertaken by Licensor or Licensee or the subsequent success
                  or failure of such actions, activity or defense.

         c.       Licensor assumes no liability whatsoever for the acts and
                  omissions of Licensee, or any of those with whom Licensee may
                  contract for the manufacture, distribution or sale of Licensed
                  Articles, notwithstanding any prior consent by Licensor to
                  such contract.

7.       Insurance
         ---------

         Licensee shall maintain, throughout the term of this Agreement, at its
         own expense, liability insurance, from an insurance company, with such
         liability coverages and limits, as are acceptable to Licensor. Such
         policies shall name Licensor as an additional insured and shall provide
         that Licensor shall receive at least 30 days prior written notice of
         intent to cancel, alter or amend such policy. Licensee shall provide
         Licensor upon execution of this Agreement and upon Licensor's request
         from time to time thereafter, with certificates or other evidence of
         insurance required by this Section. Licensee shall keep all insurance
         coverages required by this Agreement in full force and effect for a
         period of three years after the termination of this Agreement.

8.       Quality of Licensed Articles
         ----------------------------

         a.       Licensee agrees, and represents and warrants to Licensor, that
                  all Licensed Articles shall be competitive and at a quality
                  level in line with the retail price, and of high safety and
                  structural standards, of such style, appearance, quality and
                  consistency as shall be suitable for distribution and
                  satisfactory for consumer usage, and otherwise merchantable
                  and fit for the purposes for which they are intended to be
                  used. Before manufacturing any Licensed Article, and upon
                  Licensor's request from time to time, Licensee shall submit to
                  Licensor, for its written approval of the Mark usage, samples
                  of each Licensed Article together with any labeling or
                  packaging in which such Licensed Article is to be marketed or
                  sold. The number of samples to be furnished by Licensee shall
                  be such reasonable number as Licensor may from time to time
                  request. All samples shall be provided without charge to
                  Licensor. No Licensed Article shall be distributed or sold
                  pursuant to this Agreement until Licensee has obtained
                  Licensor's written approval of the samples submitted. Licensor
                  will forward written approval/disapproval within 15 working
                  days.

         b.       All Licensed Articles shall be of the same quality and
                  workmanship as the approved sample, and in the manufacture
                  thereof, Licensee shall cause to be used state-of-the-art
                  manufacturing processes, techniques and quality control
                  procedures in order to ensure that the Licensed Articles will
<PAGE>   7
                                       7

                  consistently comply with the highest product quality
                  standards. Under no circumstances shall Licensee sell,
                  distribute, give away or otherwise deal in Licensed Articles
                  that are seconds, that bear a distortion of the Marks or that
                  do not comply with this Agreement.

         c.       Licensor has a clear policy of meeting our customer's needs
                  and expectations. We must insist that this policy be espoused
                  by any Smith & Wesson licensee, as to act otherwise would
                  undermine the Licensor's corporate commitment to customer
                  satisfaction. Any licensee must provide Licensor with a
                  reasonable and refillable supply of no-charge merchandise for
                  us to quickly initiate exchanges when necessary. We also will
                  when required refund the purchase price of a product deemed
                  unacceptable by the user/consumer and expect to be reimbursed
                  for any such costs by the product's supplier. Licensor will
                  supply a quarterly accounting of any and all transactions
                  relating to customer satisfaction with the specific supplier.

         d.       Licensee shall consistently distinguish the Licensed Articles
                  from other products manufactured and sold by Licensee and
                  shall avoid confusing similarity between such other products
                  and the Licensed Articles. Licensee shall take such actions as
                  are necessary to maintain the Licensed Articles as separate
                  and distinct lines of styling, design and merchandising from
                  any other product manufactured or sold by Licensee applicable
                  to all future products.

         e.       Licensee shall, no later than 180 days before the expiration
                  of any original or extended term of this Agreement, furnish
                  Licensor a statement showing the number and description of
                  Licensed Articles in inventory and in process.

9.       Compliance with Government Standards and Product Testing
         --------------------------------------------------------

         a.       Licensee agrees that the manufacture, distribution and sale of
                  the Licensed Articles will conform at all times to all
                  applicable federal, state and local laws, regulations,
                  industry standards, ordinances and other enactments,
                  including, without limitation, those relating to product
                  safety.

10.      Promotional Material
         --------------------

         Licensee shall not use the Marks or any reproduction thereof in any
         advertising, promotional or display material without Licensor's prior
         written approval. Under no circumstances will promotional materials or
         programs be used by Licensee that reflect unfavorably on the Marks. All
         advertising, display or promotional copy utilizing or in any way
         connected with the Marks, shall carry a notice that the Marks are the
         property of Licensor. One copy of such advertising, display or
         promotional copy shall be submitted to Licensor for prior written
         approval in advance of production and upon Licensor's request from time
         to time thereafter.
<PAGE>   8
                                       8

         Any approval granted by Licensor under this Section will extend only to
         Licensee's use of the Marks. Licensor shall not be liable for content
         or accuracy of such advertising, promotional or display material nor
         for infringement of patents, copyrights, trademarks, or any other
         proprietary rights owned, used, or controlled by third parties, by
         reason of Licensee's promotional activities.

11.      Records
         -------

         a.       Licensee shall keep accurate books of account and records
                  covering all transactions relating to the license herein
                  granted. Licensor and its duly authorized independent
                  accountants or other representatives shall have the right at
                  reasonable times, upon Licenser's request from time to time,
                  to examine such books of account and records and all other
                  documents and material in Licensee's possession or under its
                  control with respect to Licensee's activities in connection
                  with this Agreement, and such persons shall have free and full
                  access for such purposes and may make copies thereof or
                  extracts therefrom. Licensee shall keep all such records
                  available to Licensor for at least three years after
                  expiration or termination of this Agreement. Licensee will
                  designate a symbol or number which will be used exclusively in
                  connection with the Licensed Articles and with no other
                  articles which Licensee may manufacture, sell or distribute,
                  and that duplicates of all billings by Licensee to its
                  customers with respect to Licensed Articles shall be kept by
                  Licensee for inspection as is herein provided.

         b.       If any audit by Licensor shall reveal a shortfall of royalties
                  paid by Licensee against royalties actually due in accordance
                  with this Agreement, Licensee shall immediately, upon demand
                  by Licensor, make payment to Licensor or such shortfall, plus
                  simple interest at prime rate per month or if lower, the
                  highest rate permitted by law, for the period of such
                  shortfall. In addition, if such audit shall reveal a shortfall
                  of more than five percent of royalty due, Licensee shall
                  reimburse Licensor for the services of its accountant and for
                  any other expenses of Licensor incident thereto including,
                  without limitation, any attorney's fees and costs of
                  collection.

12.      Termination
         -----------

         In addition to any other rights which Licensor may otherwise have,
         Licensor may terminate this Agreement at any time, immediately upon
         written notice:

         a.       If within three months from the date of this Agreement,
                  Licensee shall not have begun the bona fide production,
                  distribution and sale of the Licensed Articles; or
<PAGE>   9
                                       9

         b.       If Licensee shall thereafter fail for a consecutive period in
                  excess of three months to continue the bona fide distribution
                  and sale of the Licensed Articles; or

         c.       If Licensee shall fail to make any payment due hereunder or to
                  deliver any of the statements required hereunder, and if such
                  default shall continue for a period of 15 days after notice of
                  such default by Licensor to Licensee or if such a failure
                  shall occur twice in any 12-month period even if both failures
                  are corrected as provided hereunder; or

         d.       If Licensee or its property, where appropriate:

                  1)       Becomes subject to a receiver or trustee; or

                  2)       Becomes insolvent; or

                  3)       Becomes subject to an involuntary or voluntary
                           petition under the United States Bankruptcy Laws, as
                           amended; or

                  4)       Makes an assignment for the benefit of its creditors;
                           or

         e.       If there is any deliberate deficiency in the Licensee's
                  reporting which affects royalties payable or any other aspect
                  of this Agreement; or

         f.       If any warranty, representation or covenant made by Licensee
                  hereunder, or any information as to product quality or safety
                  provided by Licensee hereunder, is false or misleading; or

         g.       If Licensee fails to comply with any term or condition of this
                  Agreement, other than those specifically set forth in clauses
                  a through f above, and such non-compliance continues for a
                  period of 15 days after notice thereof is given by the
                  Licensor.

         Any termination by Licensor shall be without prejudice to any of
         Licensor's other rights or remedies.

13.      Effect of Termination
         ---------------------

         a.       After expiration or other termination of this Agreement,
                  Licensee shall have no further right to manufacture,
                  distribute, sell, exploit or otherwise deal in any Licensed
                  Articles which utilize the Marks except that Licensee may
                  dispose of Licensed Articles which are on hand or in process
                  at the time of expiration or termination so long as (1)
                  Licensee reports in writing to Licensor, no later than 30 days
                  after termination of this Agreement, the total number of
                  Licensed Articles which will be disposed of, (2) the sale
                  thereof is completed within six months, (3) all payments when
                  due are made to Licensor, (4) such disposal of Licensed
                  Articles shall be in accordance with the terms of this
                  agreement, and (5) statements and royalty payments with
                  respect to that period are made by Licensee in
<PAGE>   10
                                       10

                  accordance with Section 3. Notwithstanding the foregoing, in
                  the event this Agreement is terminated pursuant to Sections
                  12(c), 12(d), 12(e), 12(f), or 12(g), Licensee shall not
                  dispose of any Licensed Articles which are on hand or in
                  process at the time of termination, but shall instead
                  immediately deliver and turn over such Licensed Articles to
                  Licensor. A final statement and payment shall be made by
                  Licensee within 15 days after the end of such six-month
                  period. Upon expiration of such six-month period herein, any
                  remaining inventory of Licensed Articles and all molds,
                  plates, prints and other materials used to reproduce the Marks
                  for the manufacture of the Licensed Articles shall be
                  destroyed and evidence of such destruction shall be given to
                  the Licensor.

         b.       In the event this Agreement expires or is otherwise terminated
                  for any reason, Licensee shall, and hereby does, assign to
                  Licensor any and all rights of Licensee in the Marks,
                  including associated goodwill, and the designs and styles of
                  the Licensed Articles to the extent such design or styles
                  contain or employ any of the Marks, and shall not thereafter
                  manufacture or sell any such designs or styles or use the
                  Marks in any manner.

         c.       Except as provided in subsection a), upon the expiration or
                  termination of this Agreement, Licensee shall immediately
                  cease all further use of the Marks and any names, trademarks,
                  characters, symbols, designs, likenesses or visual
                  representations as might be likely to cause confusion or
                  deceive purchasers or prospective purchasers or dilute any
                  trade name, trademark or service mark of Licensor including,
                  without limitation, Licensor's corporate and private names,
                  other trademarks, symbols, designations, indices, slogans and
                  other means of identifying products or services of Licensor,
                  whether or not identified herein as a Mark.

         d.       Licensee agrees that the Marks are distinctive and possess
                  special, unique and extraordinary characteristics which make
                  difficult the assessment of the monetary damages that Licensor
                  would sustain by unauthorized use. Licensee recognizes that
                  irreparable injury would be caused to Licensor by unauthorized
                  use of the Marks and agrees that injunctive and other
                  equitable relief would be appropriate in the event of a breach
                  of this Agreement by Licensee, provided, however, that such
                  remedy shall not be exclusive of other legal remedies
                  otherwise available.

         e.       Licensee's obligations and agreements set forth in Sections 3
                  through 11, 13, 14, 17, 19 and 20 survive any termination or
                  expiration of this Agreement.
<PAGE>   11
                                       11

14.      Notices
         -------

         All notices and statements to be given hereunder shall be in writing,
         and any such notice or statement shall be deemed duly given if mailed
         by certified mail, return receipt requested, if to Licensor, at:

                          Smith & Wesson Corp.
                          2100 Roosevelt Avenue
                          P.O. Box 2208
                          Springfield, MA 01102-2208

                                         Attention:        Jack Sweeney
                                                           Director of Licensing

and if to Licensee, at:

                          Taylor Cutlery
                          1736 North Eastman Road
                          P.O. 1638
                          Kingsport, TN 37662

                                             Attention:        Stewart A. Taylor
                                                                       President

15.      No Joint Venture
         ----------------

         Nothing in this Agreement shall be construed to place the parties in
         the relationship of partners or joint ventures, and Licensee shall have
         no power to bind Licensor in any manner whatsoever.

16.      Cancellation
         ------------

         Licensee acknowledges that Licensor and its subsidiaries, affiliates
         and franchisees use the Marks to advance and promote Licensor's
         business, and that Licensor has a paramount obligation to preserve its
         ability to so use such Marks. Should the use by Licensee of any Mark on
         Licensed Articles be deemed by Licensor to be in violation of any
         federal, state or local law or to adversely affect the reputation of
         Licensor or affect the validity, enforceability or distinctiveness of
         the Mark as a designation of origin for Licensor's own products, then
         Licensor may terminate this Agreement on 15 days notice to Licensee in
         the event of an actual violation.

17.      Assignments. Transfers and Sublicenses
         --------------------------------------

         Without the prior written consent of Licensor, which may be withheld in
         Licensor's sole discretion, a) Licensee shall not voluntarily or by
         operation of law, assign or transfer this Agreement or any of
         Licensee's rights or duties hereunder or any interest of Licensee
         herein, nor shall Licensee enter into any sublicense for use of the
         Marks by other persons; b) Licensee shall not sell or otherwise
         transmit or
<PAGE>   12
                                       12

         transfer to any party engaged in the design or manufacture of items
         similar to any of the Licensed Articles, any design, style, know-how,
         technology or other item or knowledge of a technical or competitive
         nature, furnished to Licensee by or through Licensor. Any transfer of
         any interest in Licensee to any entity in which the present controlling
         shareholders of Licensee do not have voting control shall be deemed an
         assignment prohibited hereunder. The consent of Licensor to one
         assignment, transfer or sublicense shall not be deemed to be consent to
         any subsequent assignment, transfer or sublicense. Nothing provided
         herein shall limit Licensor's right to transfer and assign any of its
         rights hereunder. Any transfer of interest in Licensee would only be
         permissible with the consent of Licensor.

18.      Scope and Modification
         ----------------------

         This Agreement sets forth the entire agreement between the parties, and
         supersedes all prior agreements and understandings between the parties,
         relating to the subject matter hereof. None of the terms of this
         Agreement may be waived or modified except as expressly agreed in
         writing by both parties.

19.      Severability
         ------------

         Should any provision of this Agreement be declared void or
         unenforceable, the validity of the remaining provisions shall not be
         affected thereby.

20.      Governing Laws
         --------------

         This Agreement shall be interpreted in accordance with and governed by
         the laws of the Commonwealth of Massachusetts.

         The parties hereto have executed this Agreement as the date at the
         beginning hereof.

                                                Licensor:

  Witnessed By:                                 SMITH & WESSON CORP.

    /s/ Peggy M. Cowell                         by:  /s/ Robert L. Scott
---------------------------------------            -----------------------------
                                                (Title) V.P. Sales & Mktg.
                                                       -------------------------

                                                Licensee:

    /s/ (signature not legible)                 by:  /s/ Stewart A. Taylor
---------------------------------------            -----------------------------
                                                (Title)  Owner
                                                       -------------------------
<PAGE>   13
                                       13

                           EXHIBIT A - Licensed Marks

Smith & Wesson

 .357 Magnum

Magnum

LadySmith

Airweight

Kit Gun

Chiefs Special

Combat Magnum

44 Magnum

Service Kit Gun

Target Kit Gun

 .357 Combat Magnum

Distinguished Combat Magnum

Distinguished Service Magnum
<PAGE>   14
                                       14

                          EXHIBIT B - Licensed Articles

Cutlery

Cutlery/Gift Sets

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]