Exhibit 10.1
AGREEMENT
AND
GENERAL RELEASE OF
CLAIMS
This Agreement and General Release of Claims
(“Agreement” or “General Release”) is made
and entered into by and between Ronald D. Dittemore for himself and
on behalf of his agents, assigns, heirs, executors, administrators,
attorneys and representatives (“Mr. Dittemore”),
and Alliant Techsystems Inc., a Delaware corporation, any related
corporations or affiliates, subsidiaries, predecessors, successors
and assigns, present or former officers, directors, stockholders,
board members, agents, employees, and attorneys, whether in their
individual or official capacities, delegates, benefit plans and
plan administrators, and insurers (“Company” or
“ATK”).
WHEREAS, ATK and Mr. Dittemore have
mutually agreed that his employment shall end as provided in this
Agreement. In consideration of Mr. Dittemore signing and
complying with this Agreement, ATK agrees to provide him with
certain payments and other valuable consideration described below.
Further, ATK and Mr. Dittemore desire to resolve and settle
any and all potential disputes or claims related to
Mr. Dittemore’s employment or termination of
employment.
WHEREAS, ATK has a need for Mr. Dittemore
to help transition certain business for which he has been
responsible to a new business group formed within the Company and
to assume the special role of Senior Vice President of Strategic
Partnerships. In this position, Mr. Dittemore remains an
executive officer and will report directly to the Chief Executive
Officer of ATK.
WHEREAS, ATK has expended significant time and
money on the promotion, advertising, and development of goodwill
and a sound business reputation through which ATK has developed a
list of customers and has spent time and resources to learn the
customers’ needs for ATK’s services and products. This
information is a valuable, special and unique asset of ATK, which
Mr. Dittemore acknowledges constitutes confidential and
proprietary information.
WHEREAS, ATK has expended significant time and
money on technology, research and development through which it has
developed products, processes, technologies and services that are
valuable, special and unique assets of ATK, which
Mr. Dittemore acknowledges constitutes confidential and
proprietary information.
WHEREAS, the disclosure to or use by third
parties of any of ATK’s confidential or proprietary
information or trade secrets, or Mr. Dittemore’s
unauthorized use of such information or trade secrets would
seriously harm ATK’s business and cause monetary loss that
would be difficult, if not impossible, to measure.
THEREFORE, ATK and Mr. Dittemore mutually
agree to the following terms and conditions:
1.
Last Day of Employment
. Mr. Dittemore commits to
remain as an employee of ATK until March 31, 2009 or a
different date if mutually agreed to by the parties
(“Termination Date”).
