Exhibit
10.1


 


	
  

  	
  NON-QUALIFIED STOCK OPTION

  AGREEMENT

  	
   

  



 


	
  GRANTED TO

  	
   

  	
  GRANT DATE

  	
   

  	
  NUMBER OF SHARES

  OF COMMON STOCK

  	
   

  	
  OPTION PRICE

  PER SHARE

  	
   

  	
  SOCIAL SECURITY

  NUMBER

  
	
  «First» «Last»

  	
   

  	
  M

  	
   

  	
  D

  	
   

  	
  200__

  	
   

  	
  «M    OF  SHARES»

  	
   

  	
  $

  	
        

  	
   

  	
  «NATIONAL  ID»

  
	
  «Street1»

  	
   

  	
  EXPIRATION DATE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  «City», «State» «Postal»

  	
   

  	
  M

  	
   

  	
  D

  	
   

  	
  201__

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
														



 


1.               The Option.  Alliant Techsystems Inc., a Delaware
corporation (the “Company”), hereby grants to the individual named above (the “Employee”),
as of the above Grant Date, an option (the “Option”) to purchase the above
Number of Shares of Common Stock of the Company for the above Option Price Per
Share on the terms and conditions set forth in this Non-Qualified Stock Option
Agreement (this “Agreement”) and in the Alliant Techsystems Inc. 1990 Equity
Incentive Plan (the “Plan”).


 


2.               Exercise of Option.  The exercise of the Option is subject to the
following terms and conditions:


 


(a)          The Option may be exercised only by the Employee (or
by appropriate representatives in the event of the Employee’s death), in whole
or in part from time to time as provided in Paragraph 2(b) below, during the
period commencing on the dates set forth in Paragraph 2(b) below and ending on
the earlier of (i) the above Expiration Date or (ii) the expiration of the
applicable period following the date of the Employee’s Termination Of
Employment (as defined in the Plan) with the Company or one of its
Subsidiaries, as provided in Paragraph 4 below. 
In no event, however, may the Option be exercised to any extent after
the Expiration Date.


 


(b)         The Option shall become exercisable in full on the third anniversary of the Grant Date.  Once the Option has become exercisable, it
may be exercised at any time thereafter, subject to the provisions of this
Agreement.


 


3.               Manner of Exercise. 
The Option shall be exercised by the delivery of written notice of
exercise (the “Notice”) to the Vice President
of Corporate Human Resources of the Company at its executive
office.  The Notice shall be on such form
as the Company may prescribe and shall specify the number of shares of Common
Stock of the Company as to which the Option is being exercised (the “Shares”),
and shall be accompanied by payment of the purchase price of the Shares either
in cash (certified or cashier’s check payable to the Company) or by the
delivery of Common Stock of the Company, or both.  The Notice shall also be accompanied by such
other information and documents as the Company, in its discretion, may request.


 


4.               Termination of Employment.  Subject to the provisions of Paragraph 2
above, the Option may be exercised as provided in the Plan and this Agreement
to the following extent for the following period after the Employee’s
Termination of Employment:


 


(a)          For three years if Termination of Employment is a
result of the Employee’s death, prorated based on the number of whole months
that have elapsed between the Grant Date and the Employee’s Termination of
Employment, and for 180 days following death after Termination of Employment to
the extent exercisable on the date of Termination of Employment;


 


(b)         For three years after Retirement (as defined in the
Plan) or involuntary layoff to the extent exercisable on the date of
Termination of Employment;


 


(c)          For three years after Disability (as defined in the
Plan) prorated based on the number of whole months that have elapsed between
the Grant Date and the Employee’s Termination of Employment; or


 


(d)         For 90 days after Termination of Employment by reason
of voluntary layoff or any other reason, other than for cause, to the extent
exercisable on the date of Termination of Employment.


 


The Option may not be
exercised following Termination of Employment for cause.


 


5.               Income Taxes. 
The Employee is liable for any federal, state and local income or other
taxes applicable upon the grant or exercise of the Option or the disposition of
the Shares.  Upon exercise of the Option,
the Employee shall promptly pay to the Company in cash, and/or the Company may
withhold from the Employee’s compensation or from the Shares an amount
necessary to pay, all applicable taxes required by the Company to be withheld
or collected in connection with the exercise of the Option.  For federal income tax purposes, the Option
shall not be eligible for treatment as a qualified or incentive stock option.


 


6.               Acknowledgment. 
The Option may not be exercised in whole or in part until the Employee
dates and signs the form of Acknowledgment below and returns a signed copy of
this Agreement to the Company.  By
signing the Acknowledgment, the Employee agrees to the terms and conditions of
this Agreement and the Plan and acknowledges receipt of a copy of the
Prospectus related to the Plan.


 


	
  ACKNOWLEDGMENT:

  	
   

  	
  ALLIANT
  TECHSYSTEMS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EMPLOYEE’S
  SIGNATURE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  DATE

  	
   

  	
  Daniel J. Murphy

  
	
   

  	
   

  	
  President &
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
  SOCIAL SECURITY
  NUMBER