Document:

<PAGE>
                             DATED 3RD OCTOBER 2001

                 BRADLEY INTERNATIONAL HOLDINGS LIMITED    (1)

                                      and

                     MARSHALL COOPER AND JOHN CLEGG    (2)

                 ---------------------------------------------

                                   VARIATION
                       RELATING TO THE SALE AND PURCHASE
                    AGREEMENT IN RESPECT OF THE WHOLE OF THE
                    ISSUED SHARE CAPITAL OF BELDRAY LIMITED
                              DATED 30 AUGUST 2001

                 ---------------------------------------------
<PAGE>
                                    CONTENTS

<Table>
<Caption>
CLAUSE     HEADING                                                         PAGE
------     -------                                                         ----
<S>        <C>                                                             <C>
1          INTERPRETATION................................................. 1

2          DEFINITIONS.................................................... 1

3          VARIATION...................................................... 1

4          CONTINUATION................................................... 2

5          COUNTERPARTS................................................... 2

6          CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999................... 2
</Table>
<PAGE>

THIS VARIATION is made on 3rd October 2001 BETWEEN

(1)      BRADLEY INTERNATIONAL HOLDINGS LIMITED (Registered in England No.
         3407901) whose Registered Office is at P O Box 20, Beldray Road,
         Bilston, WV14 7NF (the "SELLER"); and

(2)      THE PERSONS whose names and addresses are set out in Schedule 1 hereto
         (collectively the "BUYERS" which expression shall include their
         respective legal personal representatives and successors in title from
         time to time).

BACKGROUND

Pursuant to an agreement dated 30 August 2001 between the parties hereto (the
         "Agreement"), the parties agree to amend and restate the terms of the
         Agreement.

NOW IT IS AGREED as follows:

1        INTERPRETATION

1.1      Unless the contrary intention appears, terms defined in the Agreement
         shall have the same meanings when used in this Variation

1.2      The provisions of the Agreement shall also apply to this Variation as
         if set out in this Agreement in full but with all necessary
         modifications to give effect to this Variation

2        DEFINITIONS

In this Variation:

"Arrangement Period" shall have the same meaning as in the CVA Proposal

"CVA Proposal" means the proposal to be put to creditors at a creditors meeting
         on 4th October 2001

"Lease Guarantee Fee" means the sum of L1000 per month (plus any applicable VAT)
         payable by the Company to KUK for 24 months the first payment being due
         one month after the CVA Proposal is approved.

"Option Exercise Event" - after the words "...creditors in satisfaction of
         Condition 1" the following words shall be added "or if during the
         Arrangement Period either or both of the Buyers cease to be directors
         of the Company or cease to be involved in the management of the
         business of the Company (unless prevented from doing so by death,
         accident or ill health) or if the Beldray VAT Liability is not paid in
         full to the H M Customs and Excise on or before 30th May 2002 or if
         the Company shall fail to pay the Lease Guarantee Fee

3        VARIATION

         It is mutually agreed that the Agreement shall be varied as follows:

                                       1
<PAGE>

3.1      Clause 3 of Schedule 2 of the Agreement is amended by deleting the
         words "the Buyers continued involvement with the Company as
         owner/managers and includes (a)", and by adding after the words "VAT
         Liability by the Company" the words "on or before 31st May 2002"

3.2      Clause 3(b) of Schedule 2 of the Agreement is deleted.

3.3      Clause 3(c) of Schedule 2 of the Agreement is deleted.

3.4      Clause 4 of Schedule 2 of the Agreement is deleted.

3.5      A new clause 8.1(d) is inserted into the Agreement and reads "to
         inform the Seller immediately if during the Arrangement Period either
         or both of the Buyers cease to be directors of the Company or cease to
         be involved in the management of the business of the Company."

3.6      Clause 5 of Schedule 2 of the Agreement is deleted entirely.

3.7      In clause 2.3 the words "50 per cent of the then issued share capital
         of the Company" shall be substituted for the words "the number of the
         shares specified opposite his respective name in column 2 of the
         Schedule" which shall be deleted.

3.8      A new clause 8.1(e) is inserted into the Agreement and reads "to
         procure that the Company pays the Lease Guarantee Fee;"

3.9      A new clause 8.1(f) is inserted into the Agreement and reads "to
         procure that the Company will not agree to change any of the terms of
         the Lease without the prior written approval of KUK and will
         reasonably promptly provide copies to KUK of any notices served on the
         Company under the Lease".

3.10     In clauses 7.2 and 7.4 the words "Option Event" are replaced by the
         words "Option Exercise Event".

4        CONTINUATION

         Except insofar as amended or supplemented by this variation, the
         Agreement will remain in full force and effect.

5        COUNTERPARTS

         This variation may be executed in any number of counterparts and all
         such counterparts taken together shall be deemed to constitute one and
         the same instrument.

6        CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999

         The Contracts (Rights of Third Parties) Act 1999 shall not apply to
         the Agreement.

AS WITNESS this Agreement has been signed by or on behalf of the parties hereto
the day and year first written

                                       2
<PAGE>
<Table>
<Caption>
<S>                                          <C>
SIGNED by                                    )
MARSHALL COOPER                              ) /s/ Marshall Cooper
in the presence of: /s/                      ) /s/ Paul Hammett

15 Lyndhurst Grove, Stone, Staffs ST15 8TP
Financial Management Consultant

SIGNED by                                    )
JOHN CLEGG                                   ) /s/ John Clegg
in the presence of: /s/                      ) /s/ Paul Hammett

15 Lyndhurst Grove, Stone, Staffs ST15 8TP
Financial Management Consultant

SIGNED by Alistair S Firth                   )
for and on behalf of                         ) /s/ Alistair Firth
BRADLEY INTERNATIONAL HOLDINGS LIMITED       )
in the presence of: /s/                      ) /s/ Sharon Kaur
Financial Accountant
85 Jefflock Road
Pennfields
Wolverhampton, WV3 7AG
</Table>

Wragge & Co. Document Id:\WRAGGE2\#2892455\NCMI

                                       3
<PAGE>
                                   SCHEDULE 1

NAMES AND ADDRESSES OF THE BUYERS

Marshall Cooper
22 The Heights
Leek
Staffordshire
ST13 7LQ

John Clegg
Honcy House
Vicarage Lane
Long Compton
Shipston on Stour
CV36 5LHExhibit 4.1

                            CORONADO INDUSTRIES, INC.
                      16929 E. Enterprise Drive, Suite 202
                            Fountain Hills, AZ 85268

                                 October 1, 2001

Coronado Employees and Consultants,

     The  Company's  Board of  Directors  has decided to make  available  to all
employees and consultants,  shares of the Company's common stock at the price of
90% of the lowest  closing  bid price  during  the week prior to the  employee's
payday.

     To participate  in this program,  all you have to do is execute this letter
in the space below,  and indicate the amount of wages you wish to have allocated
to this Plan and the pay period from which your salary  will be  credited.  Your
free-trading shares will be delivered to you within a few days.

                                        Coronado Industries, Inc.

                                        By: /s/ Gary R. Smith
                                            ------------------------------
                                            Gary R. Smith, President

     ------------------------------         ------------------------------
     Amount of Wages                        Employee Signature

     ------------------------------         ------------------------------
     Pay Period From                        Name of Employee
     Which To Be Paid                       (Please Print)Exhibit 10.1

                        AGREEMENT TO TERMINATE EMPLOYMENT

     This  Agreement to Terminate  Employment  is made as of October 1, 2001, by
and between ROYAL PRECISION, INC., a Delaware corporation  ("Corporation"),  and
THOMAS A. SCHNEIDER ("Employee").

     WHEREAS,  Corporation  and Employee have  maintained  an  employer-employee
relationship  for a  period  of time  and  they now  desire  to  terminate  that
relationship.  It is also the desire of Corporation and Employee that they enter
into a written agreement in order to establish their respective rights,  duties,
and obligations, resolve all claims and differences that may currently exist, or
that in the future may arise and generally release each other from any claims or
other matters that may not be specifically set forth hereinafter.

     NOW,  THEREFORE,   for  and  in  consideration  of  the  promises  and  the
consideration  more fully set forth  hereinafter,  and  intending  to be legally
bound hereby, Corporation and Employee mutually agree as follows:

     1.  TERMINATION OF EMPLOYMENT  RELATIONSHIP.  The  employment  relationship
shall   terminate  and  cease  October  2,  2001  at  5:00  p.m.   Phoenix  time
("Termination  Date"), and the payment to Employee of any sums, pursuant to this
Agreement, after such termination, shall be considered wages. Corporation shall,
however,  withhold the ordinary  and  customary  federal and state taxes to such
extent as required by law.  Corporation  shall not be obligated to pay any other
sums to  Employee  or to  provide  any  other  benefits,  after the date of this
Agreement,  except as required by  applicable  law or regulation or as set forth
hereinafter.

     2.  CONSIDERATION.  Corporation shall pay to Employee,  or to his heirs, or
executors,  the sum of  $170,000,  without  interest,  which  shall  be  payable
according to existing bi-weekly payment cycle from October 3, 2001 to October 2,
2002 (the "Severance  Period").  No payments shall be made, however,  until this
Agreement has been executed by each party.  Corporation shall pay normal payroll
through  October 2, 2001 and will then start the severance  period on October 3,
2001 through October 3, 2002.

     3. EMPLOYMENT  BENEFITS.  Corporation shall be obligated to continue and/or
provide for, or pay,  Employee's  existing  health and dental  insurance for the
Severance Period,  but shall not be obligated to continue and/or provide for, or
pay for any life insurance or any other  benefits from or after the  Termination
Date.  Employee  may have the right to invoke the  Consolidated  Omnibus  Budget
Reconciliation  Act "COBRA" of 1985,  to continue  certain  benefits.  The COBRA
period shall start on October 3, 2002 and will extend for 18 months  thereafter.
If Employee  desires to exercise such rights,  he shall  immediately  notify the
Employee Benefits Coordinator and/or the Personnel Department of Corporation.  A
<PAGE>
failure  to do so may result in a loss of  benefits.  This  Agreement  shall not
alter  Employee's  statutory  rights.  Corporation  shall  continue to reimburse
Employee  for  expenses  incurred  in the  ordinary  course of the  business  of
Corporation  pursuant to the customary and normal rules for the reimbursement of
expenses.

     4.  RETIREMENT  BENEFITS.  No  further  contributions  shall be made to the
benefit  plans of  Corporation  on  behalf  of  Employee;  however,  he shall be
entitled  to  receive  any and all  benefits  that have  vested in him solely as
determined by the terms and  conditions of such plans. A statement of Employee's
account in any such plan in which  Employee  has an account  will be supplied to
Employee upon request.

     5. OPTIONS.  Regardless of terms contained in any option agreement  between
Employee and  Corporation  which might be in conflict  with the  foregoing,  all
options with respect to Employee purchasing shares of Corporation currently held
by  Employee  shall be  immediately  vested  and  exercisable  with all  vesting
provisions  eliminated,  and  Employee  shall be entitled  to exercise  all such
options during the option term and any time prior to the expiration date of such
options.

     6.  RESIGNATION  OF  OFFICES.  Employee  hereby  tenders,  and  Corporation
accepts,  Employee's  resignation  from any and all offices  that  Employee  may
currently  hold with  Corporation or any  subsidiary of  Corporation,  including
Employee's position as a member of the Board of Directors of Corporation and its
subsidiaries, any executive offices, and any and all other such positions.

     7. SECURITIES AND EXCHANGE ("SEC") FILINGS.  Corporation  agrees to pay for
all required SEC filings to be completed on behalf of Employee. Corporation also
agrees that it will instruct its corporate attorney to make Employee aware, on a
timely  basis,  of any  filings  that are  required  to be made as a  result  of
Employee's  relationship with Corporation or as a result of the sale of stock or
exercise of options when such counsel is notified of such sale or exercise.

     8. CHOICE OF LAW.  This  Agreement  is executed in and shall be governed by
and construed in accordance with the laws of the State of Arizona  applicable to
contracts to be performed solely in the State of Arizona.

     9. NOTICES.  Materials  required to be delivered to either party  hereunder
shall be delivered as indicated below. Any notice, or other  communication under
this  Agreement  shall be in writing  and shall be  considered  given:  (a) upon
personal  delivery or delivery by  telecopier  (with  confirmation  of completed
delivery  by  sender),  (b) two  business  days after  being  deposited  with an
"overnight"  courier or "express mail" service, or (c) seven business days after
being  mailed by  registered  or  certified  first  class mail,  return  receipt
requested, in each case addressed to the notified party at its address set forth
below (or at such other address as such party may specify by notice to the other
delivered in accordance with this section):
<PAGE>
     If to Corporation:                       If to Employee:

     Royal Precision, Inc.                    Thomas A. Schneider
     535 Migeon Avenue                        4111 E. Becker Lane
     Torrington, Connecticut  06790           Phoenix, Arizona  85028
     Attn.: Chairman of the Board
     Telecopier: (860) 489-5454

     10.  WAIVER  OF CLAIMS  UNDER THE AGE  DISCRIMINATION  IN  EMPLOYMENT  ACT.
Employee hereby acknowledges that he has been referred to the Age Discrimination
in  Employment  Act  (ADEA  29 USCS  ss.ss.  621 et  seq.)  and the  regulations
promulgated  and  set  forth  at 29 CFR  Part  1625  and  the  Equal  Employment
Opportunity  Commission Complaint Procedures,  32 CFR Part 588. Employee is also
advised  he  has  various  rights,  and  may  have,  after  reviewing  the  said
legislation  and  regulations,  certain claims arising under the ADEA.  Employee
hereby knowingly and voluntarily  waives and releases any private rights that he
may  have  under  the  ADEA.  Employee  acknowledges  that  he has  sufficiently
deliberated  the waiver of his rights,  has been  encouraged to consult with his
lawyer prior to signing this Agreement and, thus,  knowingly waives and releases
any private rights that he may have. This waiver of rights is  acknowledged  for
payment of monies or other  benefits  noted  herein.  EMPLOYEE  IS  SPECIFICALLY
ADVISED THAT HE HAS 21 DAYS TO CONSIDER THE TERMS OF THIS WAIVER BEFORE  SIGNING
IT AND IS ENCOURAGED  TO AVAIL HIMSELF OF THIS PERIOD OF TIME.  EMPLOYEE IS ALSO
ADVISED THAT HE MAY REVOKE THIS WAIVER  WITHIN SEVEN DAYS  FOLLOWING THE DATE OF
HIS SIGNING THE WAIVER.

     11.  MUTUAL  UNDERSTANDINGS.  This  Agreement  has been  freely  and fairly
negotiated  by  the  parties  hereto  and  each  party  has  been  provided  the
opportunity to have the Agreement reviewed by legal counsel of his choice and to
modify the terms hereof and,  therefore,  this Agreement  shall be construed and
interpreted without any presumption,  or other rule,  requiring  construction or
interpretation  against the interest of the party  causing this  Agreement to be
drafted.  This Agreement embodies the entire  understanding  between the parties
and supersedes and cancels all prior understandings and agreements, whether oral
or written. There are no other  representations,  agreements,  arrangements,  or
understandings, oral or written, between or among the parties hereto relating to
the  subject  matter  of this  Agreement  that are not fully  expressed  in this
Agreement.  All  modifications to the Agreement must be in writing and signed by
the party against whom enforcement of such modification is sought.

     12. MISCELLANEOUS.

          a. The waiver of any breach of any  provision of this  Agreement  will
not operate or be construed as a waiver of any subsequent  breach of the same or
other provision of this Agreement.

          b. The section  headings of this  Agreement are intended for reference
and may not by themselves  determine the construction or  interpretation of this
Agreement.

          c. If any portion of this  Agreement  is  determined  to be invalid or
unenforceable,  that portion of this  Agreement  will be  adjusted,  rather than
voided, to achieve the intent of the parties under this Agreement.

          d.  EMPLOYEE  ACKNOWLEDGES  THAT  HE  HAS  READ  AND  UNDERSTANDS  THE
FOREGOING  PROVISIONS AND THAT SUCH  PROVISIONS ARE REASONABLE AND  ENFORCEABLE.
EMPLOYEE  ACKNOWLEDGES  THAT HE HAS SIGNED  THIS  AGREEMENT  AS HIS OWN FREE AND
VOLUNTARY ACT, THAT HE ACKNOWLEDGES  THAT THIS IS AN IMPORTANT AND BINDING LEGAL
CONTRACT WHICH SHOULD BE REVIEWED BY EMPLOYEE'S ATTORNEY.

     IN WITNESS WHEREOF,  and intending to be legally bound hereby,  the parties
hereto have set their hands and seals the day and year first above written.

ROYAL PRECISION, INC.

By: /s/Richard P. Johnston              /s/ Thomas A. Schneider
   -------------------------------      ----------------------------------------
    Richard P. Johnston                 Thomas A. Schneider
    Chairman of the Board

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