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Exhibit 10.2
Alliant Techsystems Inc.
Amendment to Employment
Agreement
with Daniel J. Murphy,
Jr.
This AMENDMENT is dated as of
Dec. 20, 2005, 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”), and the
parties now wish to amend the Employment Agreement.
NOW, THEREFORE, the parties agree
that the Employment Agreement is hereby amended as
follows:
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1.
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Subsection 3(f) is amended in its entirety to
read as follows:
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(f) You agree that the Company may, at its sole
discretion, delay any compensation including but not limited to
salary, bonuses, and stock awards, but excluding SERP payments
subject to Section 4(b) of this Agreement, that are not fully
deductible for federal or state income tax purposes. The Company
will delay only those amounts that would exceed the deductibility
levels under federal or state income tax laws and only until the
earliest date at which the Company reasonably anticipates that the
amounts would be fully deductible.
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2.
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Subparagraphs 4(b)(i)(A), 4(b)(i)(F),
4(b)(ii)(A), 4(b)(ii)(F), 4(b)(iii)(A),4(b)(iii)(F), 4(b)(viii)(A)
and 4(b)(viii)(F) are each amended by adding the following
provision to the end thereof:
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Notwithstanding the preceding sentence, any SERP
payment or series of payments that initially becomes payable after
December 31, 2006 shall be paid in the form of a lump sum on the
later of (1) the first day of the seventh month follow
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