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<SEC-DOCUMENT>0001193805-08-001096.txt : 20080411
<SEC-HEADER>0001193805-08-001096.hdr.sgml : 20080411
<ACCEPTANCE-DATETIME>20080411171150
ACCESSION NUMBER:		0001193805-08-001096
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20080410
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080411
DATE AS OF CHANGE:		20080411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STURM RUGER & CO INC
		CENTRAL INDEX KEY:			0000095029
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				060633559
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10435
		FILM NUMBER:		08752934

	BUSINESS ADDRESS:	
		STREET 1:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
		BUSINESS PHONE:		2032597843

	MAIL ADDRESS:	
		STREET 2:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e603666_8k-sturmruger.txt
<DESCRIPTION>FORM 8-K
<TEXT>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported)
                                 April 10, 2008

                          STURM, RUGER & COMPANY, INC.
             (Exact Name of Registrant as Specified in its Charter)

        DELAWARE                      001-10435                06-0633559
(State or Other Jurisdiction   (Commission File Number)       (IRS Employer
     of Incorporation)                                    Identification Number)

       ONE LACEY PLACE, SOUTHPORT, CONNECTICUT                   06890
      (Address of Principal Executive Offices)                 (Zip Code)

        Registrant's telephone number, including area code (203) 259-7843

      Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

      |_|   Written communications pursuant to Rule 425 under the Securities Act
            (17 CFR 230.425)

      |_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
            (17 CFR 240.14a-12)

      |_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
            Exchange Act (17 CFR 240.14d 2(b))

      |_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
            Exchange Act (17 CFR 240.13e-4(c))


                                   Page 1 of 4

<PAGE>

Item 1.01 Entry into a Material Definitive Agreement

      On April 10, 2008, Sturm, Ruger & Company, Inc. (the "Company") entered
into executive severance agreements (the "Agreements") with the following
Executive Officers of the Company:

      o     Michael O. Fifer - Chief Executive Officer
      o     Thomas A. Dineen -Vice President, Treasurer and Chief Financial
            Officer
      o     Mark T. Lang - Group Vice President
      o     Christopher J. Killoy - Vice President of Sales and Marketing
      o     Steven M. Maynard - Vice President of Lean Business Development
      o     Thomas P. Sullivan - Vice President of Newport Operations
      o     Leslie M. Gasper - Corporate Secretary

      The Agreements are not employment contracts and do not specify an
employment term, compensation levels or other terms or conditions of employment.
They provide for certain severance benefits to the executive in the event his or
her employment is terminated under specified circumstances.

      All of the Agreements provide for severance benefits, if during the term
of the Agreement there is a: (i) Termination Without Cause (as defined in each
Agreement), (ii) Change in Control (as defined in each Agreement) and the
officer is subsequently terminated or (iii) Change in Control and there is a
reduction in the officer's salary or a diminution of his or her duties and
thereafter the officer terminates his or her employment.

      The Agreements for Messrs. Fifer, Dineen, Lang, Killoy, Maynard and
Sullivan and Ms. Gasper provide for severance benefits consisting of the
following primary components:

      o     a lump sum cash payment (payable within 30 days of termination
            unless such payment is subject to the six-month deferral required by
            Internal Revenue Code Section 409A) equal to (i) 12 months of Base
            Annual Salary (as defined in each agreement) if employed less than 5
            years by the Company (18 months in the case of Mr. Fifer) or (ii) 18
            months of Base Annual Salary if employed more than 5 years by the
            Company;

      o     For a Change in Control termination, a lump sum cash payment
            (payable within 30 days of termination unless such payment is
            subject to the six-month deferral required by Internal Revenue Code
            Section 409A) equal to (i) 18 months of Annual Compensation (as
            defined in his agreement); and

      o     continued insurance benefits for the period not to exceed 18 months
            from the date that the officer's employment with the Company
            terminates.


                                        2
<PAGE>

      All of the Agreements have a one-year term, subject to automatic extension
for additional one-year periods on each anniversary of its date unless either
side gives notice of intent not to renew at least one year in advance.

      In addition, on April 10, 2008, the Company entered into an agreement with
Stephen L. Sanetti related to his voluntary resignation as President and General
Counsel as of May 1, 2008.

      Mr. Sanetti's agreement represents a special bonus of $325,000 payable as
of May 1, 2008 in consideration of his service to the Company and in lieu of any
other compensation of any kind from the Company, except as otherwise required by
applicable law.

      The foregoing descriptions of the Agreements are qualified in their
entirety by reference to the complete terms and conditions of the each
respective Agreement, which are attached as Exhibits 10.1, 10.2, 10.3, 10.4,
10.5, 10.6, 10.7 and 10.8 to this Current Report on Form 8-K and incorporated
herein by reference.

Item 9.01 Financial Statements and Exhibits

Exhibit No.       Description

10.1              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Michael O. Fifer.

10.2              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Thomas A. Dineen

10.3              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Mark T. Lang.

10.4              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Christopher J. Killoy.

10.5              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Steven M. Maynard.

10.6              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Thomas P. Sullivan.

10.7              Severance Agreement, dated as of April 10, 2008, by and
                  between Sturm, Ruger, & Co., Inc. and Leslie M. Gasper.

10.8              Agreement, dated as of April 10, 2008, by and between Sturm,
                  Ruger, & Co., Inc. and Stephen L. Sanetti.


                                        3
<PAGE>

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        STURM, RUGER & COMPANY, INC.


                                        By: /s/  Thomas A. Dineen
                                            ------------------------------------
                                            Name:  Thomas A. Dineen
                                            Title: Principal Financial Officer,
                                                   Treasurer and Chief Financial
                                                   Officer

Dated: April 11, 2008


                                        4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>e603666_ex10-1.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.1

                                                               February 28, 2008

Mr. Michael Fifer
c/o Sturm, Ruger & Company, Inc.
200 Ruger Road
Prescott, AZ 86301

Dear Mike:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to 18 months of Base Annual Salary. Your Base Annual Salary shall
be the rate in effect immediately prior to the date your employment terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Leslie M. Gasper
                                                       -------------------------
                                                       Leslie M. Gasper
                                                       Corporate Secretary

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Michael O. Fifer
      --------------------

Date: February 28, 2008
      --------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>e603666_ex10-2.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.2

                                                               February 28, 2008

Mr. Tom Dineen
c/o Sturm, Ruger & Company, Inc.
One Lacey Place
Southport, CT 06890

Dear Tom:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Thomas A. Dineen
      --------------------

Date: March 13, 2008
      --------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>e603666_ex10-3.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.3

                                                               February 28, 2008

Mr. Mark Lang
c/o Sturm, Ruger & Company, Inc.
200 Ruger Road
Prescott, AZ 86301

Dear Mark:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Mark T. Lang
      ----------------

Date: March 12, 2008
      ----------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>e603666_ex10-4.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.4

                                                               February 28, 2008

Mr. Chris Killoy
c/o Sturm, Ruger & Company, Inc.
One Lacey Place
Southport, CT 06890

Dear Chris:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Christopher J. Killoy
      -------------------------

Date: March 10, 2008
      -------------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>e603666_ex10-5.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.5

                                                               February 28, 2008

Mr. Steve Maynard
c/o Sturm, Ruger & Company, Inc.
One Lacey Place
Southport, CT 06890

Dear Steve:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Steven M. Maynard
      ---------------------

Date: March 10, 2008
      ---------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>e603666_ex10-6.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.6

                                                               February 28, 2008

Mr. Tom Sullivan
c/o Sturm, Ruger & Company, Inc.
411 Sunapee Street
Newport, NH 03773

Dear Tom:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Thomas P. Sullivan
      ----------------------

Date: March 26, 2008
      ----------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>e603666_ex10-7.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.7

                                                               February 28, 2008

Mrs. Leslie Gasper
c/o Sturm, Ruger & Company, Inc.
One Lacey Place
Southport, CT 06890

Dear Leslie:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term, (ii) within 24 months after the effective date of such Change
in Control (but in any event within the Term) the Company reduces your annual
salary or makes a material change in the nature and scope of your duties to a
level below that in effect immediately prior to the effective date of the Change
in Control and (iii) thereafter you or the Company terminates your employment
within 90 days, then the Company shall pay to you, within 30 days after the
Release Delivery Date or, to the extent required by Section 409A of the Code, on
the first day of the seventh month following the Release Delivery Date, a lump
sum equal to 18 months of your Annual Compensation in effect immediately prior
to the date your employment terminates (without regard to any decrease in the
rate of your Annual Compensation made after the Change in Control).

                  (c) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.


                                  Page 1 of 4
<PAGE>

                  (d) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (e) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;

                  (d) "Change in Control" shall be deemed to have the same
meaning as defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive
Plan;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.


                                  Page 2 of 4
<PAGE>

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.


                                  Page 3 of 4
<PAGE>

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer

                                                       April 10, 2008
                                                       -------------------------
                                                       Date

Agreed and Accepted:


By:   /s/ Leslie M. Gasper
      --------------------

Date: March 6, 2008
      --------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>9
<FILENAME>e603666_ex10-8.txt
<TEXT>

                                  [LOGO] RUGER

                                                                    Exhibit 10.8

                                                                  April 11, 2008

Stephen L. Sanetti
c/o Sturm, Ruger & Company, Inc.
One Lacey Place
Southport, CT 06890

Dear Mr. Sanetti:

            As you are aware, it is the practice of Sturm, Ruger & Co., Inc.
(the "Company") to provide severance benefits, subject to certain conditions, to
certain officers whose employment is terminated by the Company.

            The purpose of this letter is to set forth the terms of the
severance benefits that you would be entitled to receive under the circumstances
outlined below.

            1.    (a) Termination Without Cause: Subject to the limitations set
forth in Section 4, if, during the Term (as defined below) the Company
terminates your employment without Cause (as defined below) then the Company
shall pay to you, within 30 days after the date that you execute and deliver a
Release (as defined below) to the Company (the "Release Delivery Date") or, to
the extent required by Section 409A of the Internal Revenue Code of 1986 (the
"Code"), on the first day of the seventh month following the Release Delivery
Date, as a severance payment for services previously rendered to the Company, a
lump sum equal to: (i) 12 months of Base Annual Salary (as defined below) if
employed less than 5 years by the Company or (ii) 18 months of Base Annual
Salary if employed more than 5 years by the Company. Your Base Annual Salary
shall be the rate in effect immediately prior to the date your employment
terminates.

                  (b) Change of Control Termination: Subject to the limitations
set forth in Section 4, if (i) a Change in Control (as defined below) occurs
during the Term and (ii) thereafter you or the Company terminates your
employment within 90 days, then the Company shall pay to you, within 30 days
after the Release Delivery Date or, to the extent required by Section 409A of
the Code, on the first day of the seventh month following the Release Delivery
Date, a lump sum equal to 18 months of your Annual Compensation in effect
immediately prior to the date your employment terminates (without regard to any
decrease in the rate of your Annual Compensation made after the Change in
Control).

                  (c) Salary Reduction Termination: Subject to the limitations
set forth in Section 4, if, during the Term, the Company reduces your annual
salary and you terminate your employment within 90 days, then the Company shall
pay to you, within 30 days after the Release Delivery Date or, to the extent
required by Section 409A of the Code, on the first day of the seventh month
following the Release Delivery Date, a lump sum equal to 18 months of your
Annual Compensation in effect immediately prior to the date your employment
terminates (without regard to any decrease in the rate of your Annual
Compensation made after the Change in Control).


                                  Page 1 of 4
<PAGE>

                  (d) Section 409A of the Code: Notwithstanding the foregoing or
anything to the contrary contained in any Company policy providing for severance
payments and benefits to which you may become eligible pursuant to this Section
1, to the extent required by Section 409A of the Code, no payments shall be made
to you pursuant to any such Company policy during the first six months following
your termination of employment with the Company; you shall instead receive a
lump sum payment on the first day of the seventh month following the date your
employment terminates in an amount equal to the total amount of payments that
you otherwise would have received during the first six months following your
termination of employment. Any remaining payments shall be made to you in
accordance with the terms of the applicable Company policy.

                  (e) The severance benefits specified in this Section 1 shall
be in lieu of any severance pay or other severance benefit that the Company may
provide to terminated employees pursuant to policies of the Company that may at
that time be in effect.

                  (f) The severance benefits specified in this Section 1 shall
not in any way affect your entitlement to the receipt of a pro-rated cash bonus
or other cash incentive that you are otherwise eligible to earn in the ordinary
course, during the partial year prior to date of termination, pursuant to each
plan or program (whether or not such plan or program has been formalized or is
in written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives (provided that the Company goals are met that
trigger the obligation of the Company to pay the cash bonus or other cash
incentives).

            2. Definitions: As used herein:

                  (a) "Annual Compensation" shall mean, at any time, an amount
equal to your Base Annual Salary, plus 100% of the target cash bonus or other
cash incentive that you are eligible to earn in such year pursuant to each plan
or program (whether or not such plan or program has been formalized or is in
written form) of the Company in effect for such year that provides for cash
bonuses or other cash incentives, or if no such plan or program has been adopted
with respect to such year, 100% of the target cash bonus or other cash incentive
that you were eligible to earn in the most recent year in which such a plan or
program was in effect;

                  (b) "Base Annual Salary" shall mean, at any time, an amount
equal to your annual rate of salary at such time;

                  (c) "Cause" shall mean: (i) a breach of your fiduciary duty to
the Company including, but not limited to, your failure to obey any lawful
directive of the Board of Directors of the Company, (ii) your personal
dishonesty or willful misconduct or (iii) your willful violation of any law,
rule or regulation (other than traffic violations or similar offenses) or final
cease-and-desist order;


                                  Page 2 of 4
<PAGE>

                  (d) "Change in Control" shall mean a Change in Control (as
defined in the Sturm, Ruger & Company, Inc. 2007 Stock Incentive Plan) or any
person other than you becomes the President of the Company;

                  (e) "Release" shall mean a release in made by you in favor of
the Company and its affiliates, in form and content acceptable to the Company,
which shall include, but not be limited to, appropriate non-solicitation and
non-disparagement provisions and that shall last for a period of time equal to
the number of months of severance being received by you; and

                  (f) "Term" shall mean the period commencing on the date hereof
and ending on the first anniversary of the date hereof, subject to automatic
extension on each anniversary of the date hereof, unless (a) you give notice of
your intent to terminate your employment, or otherwise terminate your
employment, before such date or (b) the Company gives written notice to you of
the termination of such automatic extensions at least 360 days prior to such
date.

            3. Benefits: Upon the occurrence of a termination of your employment
under circumstances entitling you to receive the severance payment provided in
Section 1 above, the Company shall also cause to be continued, for a period of
time equal to the number of months of severance pay, such life, medical and
dental insurance coverage as is otherwise maintained by the Company for
full-time employees (based on your Base Annual Salary in effect immediately
prior to the date your employment terminates), subject to the limitations set
forth in such plans, programs or policies, provided that you shall continue to
pay all amounts in respect of such coverage that an employee receiving the same
level of coverage is or would be required to pay (the employee contribution).

            4. Parachute Payment: In the event that any amount otherwise payable
hereunder would be deemed to constitute a parachute payment (a "Parachute
Payment") within the meaning of Section 280G of the Code, and if any such
Parachute Payment, when added to any other payments which are deemed to
constitute Parachute Payments, would otherwise result in the imposition of an
excise tax under Section 4999 of the Code, the amounts payable hereunder shall
be reduced by the smallest amount necessary to avoid the imposition of such
excise tax. Any such limitation shall be applied to such compensation and
benefit amounts, and in such order, as the Company shall determine in its sole
discretion.

            5. Termination for Cause and Voluntary Termination: You shall have
no right to receive any severance pay or severance benefit or any other
compensation or benefit for any period after the date of the termination by the
Company of your employment for Cause or, except as otherwise provided in Section
1, following the voluntary termination by you of your employment.

            6. Nothing in this letter (a) confers upon you the right to continue
in the employment of the Company or the right to hold any particular office or
position with the Company, (b) requires the Company to pay you, or entitles you
to receive, any specified annual salary or interferes with or restricts in any
way the right of the Company to decrease your annual salary at any time or (c)
interferes with or restricts in any way the right of the Company to terminate
your employment at any time, with or without Cause.


                                  Page 3 of 4
<PAGE>

            7. Any payments due you hereunder shall be reduced by all applicable
withholding and other taxes.

            8. The provisions set forth in this letter shall continue in effect
throughout its Term.

            9. This letter is intended to be binding upon the Company, its
successors in interest and assigns. On and after the date of this letter, the
terms regarding severance benefits described herein shall supercede and replace
all severance and other benefits provided under, and any other provisions set
forth or described in any prior letters to, or agreements with, you relating to
provisions of benefits upon a termination of your employment, and are contingent
upon your acceptance by signing below.

            10. This letter shall be governed by, construed and enforced in
accordance with the laws of the State of New York, without giving effect to the
principles of conflicts of law thereof.

            11. You and the Company intend that this letter complies with the
provisions of Section 409A of the Code and the regulations and other guidance of
general applicability that are issued thereunder. You and the Company agree to
negotiate in good faith regarding amendments to this letter that may be
necessary or desirable to comply with Section 409A.

      This letter may be executed in one or more counterparts, each of which
will be deemed to be an original, but all of which will collectively constitute
a single original.

                                                       Very truly yours,

                                                       STURM, RUGER & CO., INC.


                                                       /s/ Michael O. Fifer
                                                       -------------------------
                                                       Michael O. Fifer
                                                       Chief Executive Officer


Agreed and Accepted:


By:   /s/ Stephen L. Sanetti
      ----------------------

Date: April 10, 2008
      ----------------------


                                  Page 4 of 4
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
