first time mutual
When I was in third grade, and before I had ever masterbated, I spent the night over at my friend's house. Corey was a boy my age, and we always had lots of fun together. So we spent the night playing video games and ping pong and stuff like that, then went to bed. He had a double bed and we laid side by side in only our underwear, but at first there was nothing sexual about it.
Then he asked me if I ever played with myself. As I never had before, I had no idea what he was talking about. So he held up his left hand with his index finger pointed straight out and said "pretend this is your penis." Then with the index finger and thumb on his right hand he began to stroke the finger on the sides. Then he pulled the covers up and stuck his hand down his briefs and started playing with himself. He asked me if I was doing it too, and I said yes even though I was too embarrassed to try it myself. After a bit I finally reached down and played with my penis, which at that age was still pretty small. Nothing else happened that time, although when I got home I tried it and a week later had my first orgasm. But that's another story.
Anyway, we drifted apart a little after that, but in seventh grade became real close friends again. So one night I spent the night over there again. By this point I think Corey's parents had caught him masterbating, because they made him always sleep with his bedroom door open. But we still stripped down to our underwear and laid there talking for a while. After a couple of hours of this, we started talking about the last time I'd spent the night, when he'd shown me how to masterbate. We laughed about it a little bit, then he asked me if I ever played with myself. I answered yes, and by this time I was feeling very horny.
He pulled back the covers and I could see that he had a hard-on, straining against his tight briefs. Then to my complete shock he pulled his underwear down and all the way off and started stroking his five inch penis. The door was still open, but he didn't seem to care. He stroked it for five minutes or so, all the while talking as if it was the most normal thing in the world for him to do that in front of friends. Then he looked down at my crotch, where my own five inch erection was straining against my underwear, and asked me if I was going to do it too. By this time I was so horny that all inhibitions were gone, and I immediately stripped and started masterbating myself. We were still talking a little, but he had begun to breath heavy and wiggle his hips around. He was approaching orgasm, and I was catching up fast.
Closing his eyes, he started pumping faster and faster until he shot his cum onto his belly. There wasn't much of it, but it was still cool to see. Soon after, I came myself while Corey watched with a big grin on his face.
We masterbated for hours more that night, then played with each other's cocks in the bathroom the next morning. We were in the bathroom for probably a good hour and a half--his parents had to have known what we were doing.
We're still friends many years later, but we never spoke of it after that. He spent the night at my house several times after that, but nothing else ever happened. It was fun while it lasted, though, and something that I will never forget.