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EXHIBIT 4.2
FIRST AMENDMENT TO PROMISSORY NOTE & LOAN AGREEMENT
This FIRST AMENDMENT TO PROMISSORY NOTE & LOAN AGREEMENT (the "Amendment") is
dated May 10, 2001, by Saf-T-Hammer Corporation, a corporation organized and
existing under the laws of the State of Nevada ("STH") and Xxxxxx Xxxxx ("CM").
WHEREAS, STH and CM have entered into that certain Promissory Note & Loan
Agreement dated as of May 6, 2001 (the "Original Agreement"); and
WHEREAS, the parties hereto desire to amend the Original
Agreement as set forth herein; and
NOW THEREFORE, for good and valuable consideration the parties hereto
hereby agree as follows:
A. The Original Agreement is hereby amended by adding the following new
Section 25:
25. Upon the closing of the SW Transaction, the Company shall issue Common Stock
Purchase Warrants to the individuals and in the amounts set forth below, which
shall be substantially in the form attached hereto as Exhibit A:
Xxxxxxxx X. Xxxxx -- 300,000 shares of Common Stock of the Company
Xxxxxxxxxxx X. Xxxxx -- 300,000 shares of Common Stock of the Company
Xxxx Xxxxxxx -- 300,000 shares of Common Stock of the Company
B. Paragraph 8 of the Original Agreement is hereby amended to provide
that Xxxxxx Xxxxx hereby waives any and all preemptive rights granted pursuant
to Paragraph 8 with respect to those certain Common Stock Purchase Warrants
issued to Xxxxxxxx Xxxxx, Xxxxxxxxxxx Xxxxx and Xxxx Xxxxxxx to purchase
300,000, 300,000 and 300,000 shares, respectively, of the common stock of
Saf-T-Hammer Corporation in connection with the SW Transaction.
C. All other terms and conditions of the Original Agreement shall remain
in full force and effect.
IN WITNESS WHEREOF, each of the undersigned has cause this Amendment
to be duly signed as of the date first above written.
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Saf-T-Hammer Corporation
By:____________________________ ___________________________
Name: Xxxxxx Xxxxx
Title:
