Exhibit 10.1


 


Alliant Techsystems Inc.


 


Amendment to Employment Agreement


 


with Daniel J. Murphy, Jr.


 


This AMENDMENT is dated as of August 4,
2008, between Alliant Techsystems Inc. (the “Company”) and Daniel J. Murphy, Jr.
(the “Executive”).


 


WHEREAS, the Company and the Executive have
entered into an Employment Agreement dated as of February 1, 2004 (the “Employment
Agreement”), which has been amended effective as of January 1, 2005 on December 20,
2005 and March 10, 2008, and the parties now wish to amend the Employment
Agreement further.


 


NOW, THEREFORE, the parties agree that the
Employment Agreement is hereby amended as follows:


 


1.                                       The preamble of paragraph 4(b)(vii) and
subparagraph 4(b)(vii)(A) are amended           in
their entirety to read as follows:


 


(vii)                           Effect of Death.  If you die before the Expiration Date while
employed by the Company, then your beneficiary (or beneficiaries) under this Section 4(b) will
receive a SERP death benefit, subject to the following terms:


 


(A)                              Lump Sum
Payment to Beneficiary.  The
present value of the SERP benefit that would have been payable to you if you
had survived and terminated employment on the Expiration Date (calculated under
Section 4(b)(i) above as modified by the following terms of this Section 4(b)(vii))
will be paid by the Company to your beneficiary (or beneficiaries) in a cash
lump sum as soon as administratively feasible following your death.  Such present value will be calculated by
using the actuarial assumptions then specified in the ATK Pension Plan, except:


 


(1)                                  the discount
(or interest) rate will be the greater of (i) the rate specified in the
ATK SERP, or (ii) 6%; and


 


(2)                                  any reduction
for early commencement will be determined under Section 4(b)(vii)(E) below.


 


2.                                       Subparagraph 4(b)(vii)(D) is amended
in its entirety to read as follows:


 


(D)                               Full Vesting.
Notwithstanding the provisions of Section 4(b)(i)(D) above, your
beneficiary (or beneficiaries) will be fully vested in the SERP death benefit.


 


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3.                                       Subparagraph 4(b)(vii)(F) is amended
in its entirety to read as follows:


 


(F)                               Beneficiary Designation and  Spousal Consent.  Notwithstanding the foregoing, if you have
designated a beneficiary (or beneficiaries) who survives you, the SERP death
benefit shall be paid to your designated beneficiary (or beneficiaries).  If you have not designated a beneficiary who
survives you, the SERP death benefit shall be paid to (i) your spouse if
you are married on the date of your death or (ii) your estate if you are
not married on the date of your death. 
Spousal consent is not required for designation of a beneficiary.


 


4.                                       This Amendment shall be effective as of August 4,
2008.


 


5.                                       In all respects not amended, the
Employment Agreement is hereby ratified and confirmed.


 


 


	
  Date:

  	
  8-4-08

  	
   

  	
  By:

  	
  /s/ DANIEL J. MURPHY

  
	
   

  	
   

  	
   

  	
  Daniel J. Murphy, Jr.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  Aug. 4, 2008

  	
   

  	
  ALLIANT TECHSYSTEMS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ PAULA PATINEAU

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Paula Patineau

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President
  Human

  Resources and Administrative 

  Services

  
									



 


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