STILLWATER, Oklahoma - Oklahoma State University and New Mexico State University have announced a licensing agreement over the use of a gun-toting mascot.

Pistol Pete has been used at Oklahoma State since the 1920s and OSU recently filed a lawsuit against New Mexico State over its use of a very similar mascot called "Classic Aggie."

The agreement allows NMSU to use its version of the mascot on a limited number of items by paying OSU a licensing fee of $10 per year. NMSU will be able to sell or provide as gifts a maximum of 3,000 items per year with the Classic Aggie image.

The items can be sold only at the NMSU bookstore or its web site and can only be gifted through the NMSU alumni relations office, a news release states.

“We appreciate our friends at Oklahoma State University and their willingness in helping to resolve this dispute,” said NMSU President Garrey Carruthers. 

“The Classic Aggie is a piece of NMSU nostalgia and this agreement allows us to continue using our Classic Aggie on items that might be appealing to our alumni and the NMSU community.”

“OSU is pleased to have this matter resolved,” said Oklahoma State President Burns Hargis. 

“We appreciate working with President Carruthers and his team to reach an agreement that protects OSU's long-held interest in its trademarks, while allowing New Mexico State fans to continue to enjoy their school's Classic Aggie.”

NMSU agreed that it will not use the image in connection with its athletic programs or student recruitment.