Document:

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                                                                    EXHIBIT 10.6

                                    EXECUTIVE
                              EMPLOYMENT AGREEMENT
                                    R. SCOTT

            This Employment Agreement, is made and entered into as of May 11,
2001, between SMITH & WESSON CORP., a Delaware corporation (the "Company"), and
ROBERT L. SCOTT, an individual residing at 2310 W. Hazelhurst Drive, Anthem, AZ
85086 ("Employee").

                                    RECITALS:

            A.    Employee is and has been the President and a director of
the Company's parent corporation, Saf-T-Hammer Corporation, a Nevada
corporation ("SAF"), and SAF and the Company desire to have the continuing
benefit of Employee's knowledge, experience and services in the operation of
the Company; and

            B. Employee's assistance to SAF and Employee's relationship
with the Company was instrumental in consummating SAF's acquisition of the
Company (the "Acquisition"); and

            C. The Board of Directors of the Company considers sound and vital
management to be essential to the overall success of the Company and has decided
to employ Employee on the terms and conditions set forth herein.

                                    AGREEMENT

            In consideration of the covenants and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto agree as follows:

            1. DEFINITIONS.  For purposes of this Agreement, the following
terms shall have the meanings indicated:

                  1.1 Company means Smith & Wesson Corp. or any successor
      entity.

                  1.2 Company Board means the Company Board of Directors or the
      Board of Directors of any successor entity of Company.

                  1.3 Effective Date.  The Effective Date of this Agreement
      is the date first set forth above.

                  1.4 Good Reason means the occurrence of any of the following
      events to which Employee has not expressly agreed to in writing:
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                        a. A material reduction in Employee's base
            salary as in effect on the Effective Date or renewal date of this
            Agreement, whichever occurs later;

                        b. Employee's relocation, without his consent, to any
            place other than within fifty (50) miles of Employee's address set
            forth above or within twenty-five miles of the Company's principal
            executive offices as of the Effective Date, except for required
            travel by Employee on the Company's business to an extent
            substantially consistent with Employee's business travel obligations
            at the Effective Date; provided, however, that, if the Company Board
            determines to relocate the Company's principal executive offices,
            the Company shall pay all of Employee's reasonable moving and other
            relocation expenses, and the Company Board shall make such
            adjustments in Employee's salary as it reasonably deems necessary to
            reflect the increase or decrease in costs of living in the new
            location and Employee shall be obligated to perform his services
            generally at such new location and such relocation shall not
            constitute "Good Reason" hereunder;

                        c. The failure of the Company to obtain the
            assumption of this Agreement by any successor, assignee,
            affiliate, or parent of the Company;

                        d. Any purported termination of Employee's
            employment with the Company, and with any affiliate or parent of
            the Company, which is not effected pursuant to thirty (30) days
            prior written notice of termination; and

                        e. Any material breach by the Company of any provision
            of this Agreement which is not cured by the Company within thirty
            (30) days written notice from Employee specifying the nature of such
            breach.

                  1.5 Termination for Cause means the termination of employment
      of Employee by the Company Board because of Employee's personal
      dishonesty, incompetence, willful misconduct, breach of fiduciary duty
      involving personal profit, intentional failure to perform his stated
      duties, willful violation of any material law, rule or regulation
      resulting in a detriment to the Company or reflecting upon the Company's
      integrity (other than traffic infractions or similar offenses) or a
      material breach by Employee of any term of this Agreement and failure to
      cure such breach within thirty (30) days after receipt of written notice
      from the Company specifying the nature of such breach or to pay
      compensation to the Company deemed reasonable by the Company if the breach
      cannot be cured.

                  For purposes of this Agreement, Employee's termination of
      employment shall not be considered to be a Termination for Cause unless
      and until there shall have been delivered to Employee a copy of a
      resolution, duly adopted by the affirmative vote of not less than 51% of
      the entire membership of the Board at a meeting called and held for that
      purpose after reasonable notice to Employee and an opportunity for him,
      together with his counsel (if he elects to have counsel represent him), to
      be heard, finding that, in

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      the good faith opinion of the Board, Employee is guilty of misconduct of
      the type described in this paragraph, and specifying the particulars
      thereof in detail, which determination shall be subject to a complete and
      de novo review as to reasonableness and good faith.

                  1.6 Total and Permanent Disability means an injury or illness
      of Employee that prevents him from performing his customary duties and
      which is expected to be of long continued and indefinite duration and that
      has caused Employee's absence from service for at least sixty (60) days.

            2. EMPLOYMENT. The Company hereby employs the Employee and
the Employee accepts employment on the terms and conditions set forth herein.

                  2.1 Term The term of this Agreement shall commence on the date
      hereof and shall end on the close of business on the day before the second
      anniversary of the date of commencement, unless terminated in accordance
      with the provisions of Section 3 hereof. On and after the first
      anniversary of the date of commencement, the term hereof shall be extended
      automatically for an additional one (1) year on each anniversary date
      hereof, unless prior to thirty (30) days before any such anniversary date
      the Company Board decides to modify the term of, or to terminate in
      accordance with the provisions of Section 3 of this Agreement.

                  2.2 Duties and Responsibilities. Employee shall serve as
      President of the Company and be responsible for managing all of the
      ongoing operations of the Company, such duties to include, maximizing the
      efficiency of operations, reviewing the performance and compensation of
      all personnel of the Company, attending meetings from time to time at the
      headquarters of the Company of certain officers of the Company and at the
      headquarters of SAF of its officers and directors.

                  2.3 Compensation. During the term of this Agreement and so
      long as Employee's employment has not been subject to Termination for
      Cause, he shall be entitled to the salary and other employment benefits
      provided in this Section 2.3 notwithstanding the level of compensation or
      benefits received by similarly situated employees. Employee shall be
      entitled to an annual salary of no less than $240,000.00 payable pursuant
      to the Company's employment compensation policy as may exist from time to
      time, with increases as may be made from time to time in accordance with
      the Company's regular salary administration practices as applied to
      executive officers of the Company. Employee shall be entitled to
      reimbursement for business expenses and automobile or other transportation
      allowances on a basis no less favorable to Employee than in accordance
      with the policy of the Company on the Effective Date. Except as expressly
      set forth herein, Employee shall participate, consistent with past
      practices, in any bonuses and awards under the management incentive
      program maintained by the Company on the Effective Date. Employee shall
      also be entitled to continuing participation, consistent with past
      practices, in all other employee benefit plans and practices of the
      Company in place on the Effective Date, including, without limitation,

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      life, long-term disability and accident insurance, employee savings and
      investment plans, stock plans, medical, dental, hospitalization and other
      welfare benefit plans, and vacation plans, without any material reduction
      in the value of the Company provided benefits. Notwithstanding the
      foregoing, Employee agrees that he is not a participant in, is not a
      beneficiary under, and has no rights with respect to that certain Smith &
      Wesson Corp. Severance Compensation and Extraordinary Bonus Plan (Revised
      and Restated July 17, 2000).

                  2.4 Acquisition Bonus; Hiring Bonus; Non-Compete
      Consideration. Upon the execution of this Agreement, Employee shall be
      entitled to receive a payment in the amount of $300,000 and a Common Stock
      Purchase Warrant to purchase 5,000,000 shares of the common stock of SAF,
      substantially in the form attached hereto as Exhibit "A." The foregoing
      consideration shall be compensation for Employee's role in the
      Acquisition, consideration for the restrictions set forth in Section 4.1,
      as well as a "hiring bonus."

            3. TERMINATION. Employee's employment under this Agreement
shall terminate upon the occurrence of any one of the following events:

                  3.1 Total and Permanent Disability. In the event that Employee
      suffers Total and Permanent Disability, the Company may terminate
      Employee's employment, but shall be obligated to continue Employee's then
      regular salary and continue his benefits hereunder for the balance of the
      then-existing year term of employment. Employee agrees, in the event of
      any dispute under this Section, to submit to a physical examination by a
      licensed physician selected by the Company, the cost of such examination
      to be paid by the Company, and the decision as to Employee's disability
      shall be conclusive and binding upon the Company and Employee. Nothing
      contained herein shall be construed to affect Employee's rights under any
      disability insurance or similar policy, whether maintained by the Company,
      Employee or another party.

                  3.2 Death. This Agreement shall terminate upon the death of
      the Employee and no further liability to Employee or to Employee's estate
      hereunder shall remain. Nothing contained herein shall be construed to
      affect Employee's rights under any life insurance or similar policy,
      whether maintained by the Company, or another party.

                  3.3 Termination for Cause. The Company may terminate
      Employee's employment for cause. The Company shall have no further
      obligation to pay salary or benefits hereunder after the date of any
      Termination for Cause.

                  3.4 Good Reason. Employee may terminate Employee's employment
      for Good Reason at any time during the term of this Agreement. In the
      event Employee terminates his employment for Good Reason, or the Company
      terminates Employee's employment "without cause", the Company shall
      continue to be liable to Employee for

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      the payment of Employee's compensation as set forth in Section 2.3 hereof
      for either the balance of the full original term of the Agreement or for a
      six-month period, whichever is longer.

            4. COVENANT NOT TO COMPETE AND CONFIDENTIALITY.

                  4.1 Covenant Not to Compete. Employee shall not engage in any
      business or perform any service, directly or indirectly, or have any
      interest, whether as a proprietor, partner, employee, investor, principal,
      agent, consultant, director or officer, in any enterprise which
      manufactures guns or gun accessories for commercial purposes in the United
      States or which is in competition with the business of the Company (i)
      during the term of his employment, or (ii) two (2) years after the
      termination of this Agreement; provided, however, that this Covenant Not
      to Compete shall not apply if Employee's employment is terminated by the
      Company without cause; or by Employee for Good Reason; or if Employee
      makes himself available for employment by the Company at the end of the
      term of this Agreement upon similar terms and conditions to those
      contained herein and the Company thereupon refuses to employ Employee.
      Nothing in this Section 4 shall be deemed to prohibit Employee from
      purchasing less than five percent (5%) of the outstanding shares of any
      corporation whose shares are traded on a national exchange and which, at
      the time of purchase, is not engaged in competition with the Company.

                  If any court shall determine that the duration or geographical
      limit of the foregoing restriction is unenforceable, it is the intention
      of the parties that the foregoing restriction shall not be terminated but
      shall be deemed amended to the extent required to render it valid and
      enforceable, such amendment to apply only with respect to the operation of
      this Section 4 in the jurisdiction of the court that has made the
      adjudication.

                  4.2 Confidential Information. Employee acknowledges that he
      has and will have access to trade secrets and confidential business
      information of the Company and SAF throughout the term of this Agreement
      and that any such trade secret or confidential information, regardless of
      whether Employee alone or with others developed any such trade secret or
      confidential information, shall be and shall remain the property of the
      Company. During the term of this Agreement and after termination of
      employment, Employee shall not, either voluntarily or involuntarily, on
      either his own account, as a member of a firm, or on behalf of another
      employer or otherwise, directly or indirectly use or reveal to any person,
      partnership, corporation or association any trade secret or confidential
      information of the Company, its parent, subsidiaries, or affiliates. Such
      trade secrets shall include, but shall not be limited to, business plans,
      marketing plans or programs, financial information, forecasts,
      compensation arrangements, contracts (whether leases, financing
      arrangements, or other contracts) customer lists, and business
      opportunities. The term "trade secrets" shall not include information
      generally available to the public or a governmental agency except such
      term "trade secrets" shall include information provided to the Securities
      and Exchange Commission or other governmental agency on a confidential
      basis. Employee will not make available to any person,

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      partnership, limited liability company, corporation or association, or
      retain after termination of employment, any Company or SAF policy manuals,
      contracts or other written materials.

                  4.3 Injunctive Relief. Employee acknowledges that the
      restrictions contained in this Section 4 are a reasonable and necessary
      protection of the immediate interests of the Company and SAF and that any
      violation of these restrictions would cause substantial injury to the
      Company and SAF. In the event of a breach or threatened breach by Employee
      of these restrictions, each of the Company and SAF shall be entitled to
      apply to any court of competent jurisdiction for an injunction restraining
      Employee from such breach or threatened breach; provided, however, that
      the right to apply for an injunction shall not be construed as prohibiting
      either the Company or SAF from pursuing any other available remedies for
      such breach or threatened breach.

            5. BINDING EFFECT; ASSIGNMENT. This Agreement shall be binding upon
and inure to the benefit of Employee, the Company and their respective heirs,
executors, administrators, successors and assigns; provided, however, that
Employee may not assign his rights hereunder without the prior written consent
of the Company and may not assign his obligations hereunder. The Company may
assign either its rights or obligations hereunder to any of its subsidiaries or
affiliated corporation or to any successor to substantially all of the assets or
business of the Company.

            6. AMENDMENTS.  This Agreement may not be amended, modified or
supplemented in any respect except by a subsequent written agreement executed
by the Company and Employee.

            7. MISCELLANEOUS.

                  7.1 Entire Agreement. This Agreement rescinds and supersedes
      any other agreement, whether oral or written, relating to Employee's
      employment by the Company and SAF, including without limitation that
      certain Employment Agreement between Employee and SAF (the "Prior
      Agreement"), and contains the entire understanding between the parties
      relative to the employment of Employee, there being no terms, conditions,
      warranties, or representations other than those contained or referred to
      herein, and no amendment hereto shall be valid unless made in writing and
      signed by both of the parties hereto. As of the Effective Date, Employee
      shall have no further rights, and the Company no further obligations,
      under the Prior Agreement. Without limiting the generality of the
      foregoing, Employee expressly acknowledges and agrees that the incentive
      bonus set forth in Section 4 thereof is no longer in effect and that all
      employee benefits set forth therein have been replaced by such benefits
      provided by the Company hereunder.

                  7.2 Governing Law.  This Agreement shall be interpreted
      and construed in accordance with the laws of the State of Arizona as
      applied to residents of Arizona without regard to conflicts of law
      principles.

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                  7.3 Severability. In the event that any provisions herein
      shall be legally unenforceable, the remaining provisions nevertheless
      shall be carried into effect.

                  7.4 Attorneys' Fees. In the event of any litigation between
      the parties hereto arising out of the terms, conditions and obligations
      expressed in this Agreement, the prevailing party in such litigation shall
      be entitled to recover reasonable attorneys' fees incurred in connection
      therewith.

                  7.5 Notices. All notices required or permitted to be given
      hereunder shall be deemed given if in writing and delivered personally or
      sent by telex, telegram, telecopy, or forwarded by prepaid registered or
      certified mail (return receipt requested) to the party or parties at the
      following addresses (or at such other addresses as shall be specified by
      like notices), and any notice, however given, shall be effective when
      received:

                        To Employee:

                        Robert L. Scott
                        2310 W. Hazelhurst Drive
                        Anthem, AZ 85086

                        To Company:

                        Smith & Wesson Corp.
                        c/o SAF-T-HAMMER Corporation
                        14500 N. Northsight Boulevard, Suite 221
                        Scottsdale, AZ  85260

                  7.6 Waiver. The waiver by any party of a breach of any
      provision of this Agreement by the other shall not operate or be construed
      as a waiver of any subsequent breach of the same provision or any other
      provision of this Agreement.

                  7.7 Counterparts. This Agreement may be executed in one or
      more counterparts, each of which shall be deemed an original, but all of
      which together shall constitute one and the same instrument.

                  7.8 Headings. The subject headings to the sections in this
      Agreement are included for purposes of convenience only and shall not
      affect the construction or interpretation of any of its provisions.

                  7.9 Construction. Each party has had the opportunity to set
      forth in this Agreement all matters related to the subject hereof. The
      Company and Employee acknowledge the binding legal effect of this
      Agreement, that this Agreement has been

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      negotiated by the parties hereto and that each party has, to the extent
      desired, sought legal counsel related to the terms, conditions and effect
      of this Agreement.

                  7.10 Assistance in Litigation. Employee shall upon reasonable
      notice, furnish such information and reasonable assistance to the Company
      as it may reasonably require in connection with any litigation in which it
      is, or may become, a party either during or after employment.

                  7.11 Limited Effect of Waiver by Company. Should the Company
      waive breach of any provision of this Agreement by the Employee, that
      waiver will not operate or be construed as a waiver of further breach by
      the Employee.

            IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first hereinabove written.

                                    COMPANY:

                                    SMITH & WESSON CORP., a Delaware
                                    corporation

                                    By:      /s/ Mitchell A. Saltz
                                       ----------------------------------------
                                       Its:  Executive Vice President

Attest:                               EMPLOYEE:

/s/ Sherry Noreen                     /s/ Robert L. Scott
----------------------                 ----------------------------------------
Secretary                              Robert L. Scott

                                       8<PAGE>   1
                                                                    EXHIBIT 10.7

                                 SMITH & WESSON
                         SALES REPRESENTATIVE AGREEMENT

         THIS SALES REPRESENTATIVE AGREEMENT is effective as of October 23,
1999, between SMITH & WESSON CORP., a Delaware corporation with offices at 2100
Roosevelt Avenue, Springfield, Massachusetts 01104 and BONANZA INTERNATIONAL,
INC. with offices at 99NW 183rd St., Suite 237, Miami, Florida 33169
("Representative").

         1. Appointment.

         Smith & Wesson hereby appoints Representative as a non-exclusive sales
representative to solicit and obtain orders for products of Smith & Wesson
identified in Schedule A hereto ("the Products"), and Representative hereby
accepts such nonexclusive appointment in accordance with this Agreement.
Representative acknowledges that the name and reputation of Smith & Wesson and
its Products constitute a valuable asset, and Representative shall conduct its
activities ethically and strictly in accordance with the letter and spirit of
applicable laws so that the name and reputation of Smith & Wesson and its
Products shall not be adversely affected. Representative is not an agent,
employee or franchisee of Smith & Wesson and may not assign or license any of
its rights or obligations under this Agreement.

         2. Area of Responsibility.

         Representative shall be responsible for developing, soliciting and
obtaining sales of Products solely within the geographic area described in
Schedule B hereto ("Area of Responsibility"). Smith & Wesson shall have the
right, in its sole and absolute discretion and at any time, to appoint
additional sales representatives, to make direct sales to any person or entity,
and to enlarge or reduce Representative's Area of Responsibility, with respect
either to geographic territory or with respect to the inclusion or exclusion of
any customers (either specifically by name or by type) included therein, by
giving Representative ten (10) days' advance written notice of such change.

         3. Prices and Terms of Orders.

         (a) Representative shall solicit orders for the purchase of the
Products from Smith & Wesson. All such orders shall be placed with Smith &
Wesson, either by the customer, directly, or through the Representative. Such
orders shall be at the prices and on the other terms and conditions specified by
Smith & Wesson, including but not limited to, conditions of delivery, warranty,
discount and payment.

         (b) All orders solicited and forwarded by Representative shall be in
accordance with Smith & Wesson's sales policies and published procedures and
shall require Smith & Wesson's express written acceptance and shall not be
binding in any
<PAGE>   2
Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 2

respect upon Smith & Wesson without its acceptance. Decisions regarding a
customer's credit and all matters relating to shipments and billings shall be
made only by Smith & Wesson. Nothing contained in this Agreement shall in any
manner be deemed to limit or affect the right of Smith & Wesson to change or
modify its business operations or practices or to cease, in whole or in part,
the production or sale of any Product(s), and Smith & Wesson shall incur no
liability to Representative as a result of any such change, modification or
cessation.

         4. Representative's Duties.

         Representative shall:

         (a) Use its best and principal efforts to diligently promote the sale
and use of the Products and to solicit, secure, obtain and forward orders for
the Products to Smith & Wesson; maintain a place of business within its Area of
Responsibility reasonably adequate for the performance of its obligations under
this Agreement; and, devote such time and attention to the performance of its
obligations under this Agreement as may be required to perform such obligations
satisfactorily.

         (b) Sell and promote only complementary, not competitive products.

         (c) Comply with all applicable laws, statutes and regulations governing
the sale of the Products and adhere to the sales policies of Smith & Wesson as
they may be established from time to time.

         (d) Forward immediately to Smith & Wesson any and all orders and any
and all monies or remittances in any form which it may collect or receive from
customers or accounts; and, make no allowances or adjustments in accounts or
authorize the return of any Products unless given specific advance written
authorization, in individual cases, by Smith & Wesson.

         (e) Carry liability insurance with an insurer and in such amounts as
may be approved by Smith & Wesson in connection with all matters relating to any
persons or business entities, vehicles and equipment, and any premises utilized
by Representative in the performance of its obligations hereunder.
Representative shall maintain such insurance in force and effect during the
entire period of this Agreement, and provide Smith & Wesson with evidence of
such insurance and its maintenance.

         (f) Maintain in its possession accurate sales records and provide Smith
& Wesson with access to (and the right to copy) such records. Representative
will report in reasonable detail, from time to time as Smith & Wesson may
reasonably request, upon its sales activities.

         (g) Promptly submit to Smith & Wesson any and all inquiries,
expressions of interest and potential orders. Representative shall promptly and
diligently follow up on

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Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 3

all inquiries received by Smith & Wesson and forwarded to Representative for
potential orders in its Area of Responsibility.

         5. Compensation.

         (a) Representative shall be compensated by payment of a commission on
Completed Sales (as defined below) of Products to Smith & Wesson customers who
are located within Representative's Area of Responsibility, and who are not
specifically excluded under Section 2 or under Section 5(c) of this Agreement.
No commission will be paid for sales to any customer who is specifically
excluded by Smith & Wesson, regardless of geographic location. Only completed
sales made solely during the term of a Representative's appointment hereunder
qualify for a commission in accordance with the commission schedules and
commission policies from time to time issued by Smith & Wesson. The current
commission schedule of the company is attached as Schedule C hereto.

         Commissions shall be computed on the net sales price of the Products,
minus deductions for such as the following determined by Smith & Wesson in its
sole discretion: cancellations, returns, billed freight, allowances, promotional
allowances, allowable cash discounts (whether or not taken), and taxes,
including federal excise tax. Commissions shall be paid only for Products sold
pursuant to orders which are (i) approved by Smith & Wesson, and (ii) which are
sold to, accepted and paid for by, the customer (hereinafter referred to as a
"Completed Sale"). Commissions shall be paid each month for all Completed Sales
of Products during the preceding month which are sold to and paid for by Smith &
Wesson's customers who are located in the Representative's Area of
Responsibility.

         (b) Smith & Wesson reserves the right in its sole and absolute
discretion to accept or reject orders and Smith & Wesson shall not be liable to
Representative for commissions on any order or any part of any order which for
any reason Smith & Wesson may reject or fail to ship.

         (c) Smith & Wesson reserves the right to sell direct to any account and
to appoint distributors for the Products. These distributors and direct accounts
may, in Smith & Wesson's sole and absolute discretion, be treated as Smith &
Wesson proprietary accounts ("House Accounts") and Representative shall not be
entitled to any commission for Smith & Wesson sales to such House Accounts.

         (d) All commissions shall be computed by Smith & Wesson, and such
computations shall be deemed accepted as final unless Smith & Wesson receives a
written objection from Representative within ten (10) days of the
Representative's receipt of the disputed commission report

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Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 4

         6. Expenses.

         Representative shall be responsible for all of its expenses (including,
without limitation: travel, entertainment, hotel, telephone, telex, telecopier,
secretarial or office expense). Representative shall purchase from Smith &
Wesson, at special prices set by Smith & Wesson, an adequate supply of
demonstration Products, to be updated periodically to reflect those Products
currently being offered for sale by Smith & Wesson.

         7. Representative's Employees.

         (a) Representative shall be responsible for the hiring, compensation,
termination and all other matters relating to any persons or business entities
utilized or employed by Representative in the conduct of its business
activities. Smith & Wesson shall have no responsibility for any of the foregoing
matters, and Representative shall indemnify and hold harmless Smith & Wesson
from any liability, losses, damages, costs and expenses, including reasonable
attorneys' fees, incurred in defending any claims or proceedings brought against
it by reason of any such matters.

         (b) Nothing contained in this Agreement shall be construed to imply
that Representative is an officer, partner, joint venturer, employee or agent of
Smith & Wesson. It is expressly agreed that Representative is an independent
contractor.

         8. Limitations Upon Representative's Authority.

         In addition to any other limitations contained in this Agreement,
Representative shall not have, nor shall it represent itself as having, any
authority, to:

         (a) make contracts in the name of or binding on Smith & Wesson or
pledge Smith & Wesson's credit or extend credit in Smith & Wesson's name;

         (b) vary, alter, enlarge or limit orders or contracts for the sale of
the Products;

         (c) except for those representations specifically authorized by Smith &
Wesson, make any representations with respect to the Products or Smith & Wesson,
or incur or assume for Smith & Wesson any liability or obligation other than
those expressly authorized in writing by Smith & Wesson;

         (d) execute any receipt or acknowledgment of payment or satisfaction of
any debt or obligation owed to Smith & Wesson or endorse or negotiate any
instrument, draft, check or commercial paper in the name of Smith & Wesson, or

         (e) engage, employ, delegate, subcontract or enter into any arrangement
or understanding for the purpose or having the effect of so engaging, employing,
delegating, subcontracting, directly or indirectly, any third party to perform
the duties or enjoy the rights of the Representative hereunder unless it shall
have received the prior written consent of Smith & Wesson (which consent may be
withheld by Smith & Wesson in its

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Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 5

sole and absolute discretion). In the event that Smith & Wesson consents to
Representative's utilization of a third party to perform such duties,
Representative assumes all responsibility for making sure that the third party
is aware of, and complies with, the terms of this Agreement.

         9. Covenants.

         (a) Neither during the term of Representative's appointment under this
Agreement nor at any time thereafter will Representative, directly or
indirectly, make use of other than for the benefit of Smith & Wesson - or
divulge to any person, firm, association or corporation - any of Smith &
Wesson's supplier lists, customer lists, price lists, record books, trade
secrets, confidential information or other information of any kind, nature or
description concerning any matters affecting or relating to Smith & Wesson's
business, except when expressly authorized to do so in writing by Smith &
Wesson. Representative shall obtain a binding written agreement from each of its
employees, representatives, agents and officers that he is aware of, and will
comply with, the terms of this paragraph.

         (b) During the term of Representative's appointment under this
Agreement Representative shall not handle, offer, act as sales representative or
agent for, or sell other lines of products which are competitive with the
Products, directly or indirectly, whether as representative, agent,
warehouseman, distributor, wholesaler, dealer or otherwise, without Smith &
Wesson's prior written consent. Smith & Wesson shall be the sole judge of which
products are competitive. Representative shall deliver to Smith & Wesson upon
the signing of this Agreement a list containing the names and addresses of each
non Smith & Wesson manufacturer's product line which Representative seeks also
to represent; and Representative shall update this list and seek Smith &
Wesson's written consent before taking on any additional product lines for those
manufacturers or any new manufacturer.

         (c) Representative acknowledges and agrees that all Smith & Wesson
trade names and trademarks are the sole and exclusive property of Smith &
Wesson. Representative shall not use such trade names or trademarks as part of
its title or the name of its business. Representative also shall not use such
trade names or trademarks in any manner in connection with an effort to sell the
goods of others, whether or not such goods are competitive with the Products.
Upon termination of this Agreement, Representative shall immediately discontinue
any use of Smith & Wesson's trademarks, trade names, and any other
identification with Smith & Wesson.

         10. Remedies.

         Representative acknowledges and admits that there would be no adequate
remedy at law for its failure to comply with its obligations under this
Agreement, and agrees that, in the event of any such failure, Smith & Wesson
shall be entitled to equitable relief by way of temporary restraining order,
preliminary injunction and permanent injunction and such other and further
relief as any court with jurisdiction may deem just and proper,

                                       5
<PAGE>   6
Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 6

without the necessity of posting any bond or proving any actual damages. Smith &
Wesson will be entitled, if it so elects, to maintain proceedings in any court
of competent jurisdiction, either at law or in equity, to obtain damages for any
breach of this Agreement by Representative, to enforce the specific performance
of this Agreement, to restrain or enjoin Representative from violating this
Agreement or to obtain any combination of such remedies or other remedies as may
be available to Smith & Wesson at the time of any such breach.

         11.      Indemnification.

         Representative shall indemnify and hold harmless Smith & Wesson, its
shareholders, officers, directors, agents, servants and employees against all
loss, liability, damage, cost and expense, including reasonable attorneys' fees
and expenses, arising out of or resulting from the assertion against Smith &
Wesson of any claims or obligations by reason of either (a) Representative's
breach of this Agreement, including any unauthorized representations, or (b) the
handling, possession or use of the Products by Representative or any of its
employees or agents (excluding, however, liability arising solely out of the
design or manufacture of the Products by Smith & Wesson).

         12.      Term and Termination of Agreement.

         (a) The term of Representative's appointment under this Agreement shall
remain in effect until December 31, 2001, when it will automatically terminate
provided, however, that either party may terminate this Agreement without cause
by giving thirty (30) days written notice to the other party and, provided
further, that Smith & Wesson may terminate this Agreement immediately by giving
written notice of termination if any of the following happen:

                  (i) a breach of this Agreement by Representative;

                  (ii) any assignment by Representative for benefit of its
         creditors;

                  (iii) the death, incapacity, or insolvency of Representative
         (if it is an individual) or any partner or officer of Representative;

                  (iv) any substantial change in the management or control of
         Representative; and

                  (v) the institution by or against Representative of voluntary
         or involuntary proceedings in bankruptcy, or under any other insolvency
         law, or for receivership or dissolution of Representative.

         (b) All property of Smith & Wesson, and any copies thereof or any other
form of reproduction, extract, abstract or description thereof, including
summaries and records, shall be turned over to Smith & Wesson by Representative,
or its representative, within

                                       6
<PAGE>   7
Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 7

30 days after termination or expiration of such appointment of Representative
under this Agreement

         (c) Representative shall not, upon the expiration or termination of
this Agreement, return Products or inventory to Smith & Wesson or seek
reimbursement, or seek any damages relating to prospective profits on sales or
anticipated sales.

         13.      Miscellaneous.

         (a) The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any of the other
provisions, and this Agreement shall be construed in all respects as if such
invalid or unenforceable provisions were omitted.

         (b) This Agreement supersedes any prior agreement between Smith &
Wesson and Representative and constitutes the entire agreement between the
parties. Except as otherwise set forth herein, this Agreement may not be
modified or supplemented except by a writing signed by both parties. This
Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts.

         (c) This Agreement constitutes a personal contract on the part of the
Representative which may not be transferred or assigned, in whole or in part, by
Representative without Smith & Wesson's prior written consent. For the purposes
of this Agreement; a sale or transfer, directly or indirectly, of control over
Representative or of more than a majority of any class of capital stock or other
equity interest in Representative shall constitute a transfer or assignment
prohibited by this paragraph. This Agreement may be assigned by Smith & Wesson
and shall be binding upon and inure to the benefit of Smith & Wesson, its
successors and assigns, and Representative, its heirs, representatives and
approved assigns.

         (d) Any notices sent pursuant to this Agreement will be deemed given
when delivered or, if sent by certified mail, postage prepaid, on the third
business day following the date of mailing, addressed as follows:

         Company:                 Smith & Wesson Corp.
                                  2100 Roosevelt Avenue
                                  Springfield, Massachusetts 01104
         Representative:          Bonanza International, Inc.
                                  99 NW 183rd St.
                                  Suite 237
                                  Miami, FL 33169

Either party may change its address by written notice to the other in accordance
with the provisions of this paragraph.

                                       7
<PAGE>   8
Representative Agreement-Bonanza International, Inc.
October 23, 1999
page: 8

         (e) The waiver by Smith & Wesson of any breach hereof committed by
Representative shall not constitute a waiver of any other or subsequent breach.
A party breaching this Agreement agrees to pay all costs, expenses and
reasonable attorneys' fees incurred by the other party resulting from the breach
of the terms or conditions of this Agreement.

SMITH & WESSON CORP.

By:  /s/ John A. Kelly
-----------------------------------
John A. Kelly, Vice-President & CFO

REPRESENTATIVE:

By:  /s/ James L. McCoy
-----------------------------------
President

                                       8
<PAGE>   9
                                                                      SCHEDULE A

NAME:                 BONANZA INTERNATIONAL, INC.

                                 SMITH & WESSON
                         SALES REPRESENTATIVE AGREEMENT

PRODUCTS
--------

Handguns
Supplies, parts and accessories for above items
Handcuffs
Smith & Wesson apparel/promotional items
<PAGE>   10
                                                                      SCHEDULE B

NAME:                 BONANZA INTERNATIONAL, INC.

                                 SMITH & WESSON
                         SALES REPRESENTATIVE AGREEMENT

AREA OF RESPONSIBILITY
----------------------

The following indicates the primary area of responsibility for which the
Representative has been appointed:

                     Latin America (South & Central America)
                                Caribbean Islands
<PAGE>   11
                                                                     SCHEDULE C

NAME:                 BONANZA INTERNATIONAL, INC.

                                 SMITH & WESSON
                         SALES REPRESENTATIVE AGREEMENT

COMPENSATION
------------

Commission rate will be 3% on products as referred to on Schedule A, or as
negotiated.

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