Executive Life Insurance Agreement - Alliant Techsystems Inc.


                       EXECUTIVE LIFE INSURANCE AGREEMENT

1.       INTRODUCTION

         It is the consensus of the Board of Directors of Alliant Techsystems
         Inc. that you have provided valuable services to the Corporation in the
         past. Your experience, your knowledge of the affairs of the
         Corporation, and your demonstrated skills have made you a valued
         employee. For these reasons, the Board of Directors desires to provide
         you with the following benefit, should you remain an employee as
         specified in this Agreement.

2.       DEFINITIONS

         A.       Corporation

                  Corporation refers to Alliant Techsystems Inc.

         B.       Agreement

                  Agreement refers to this Executive Life Insurance Agreement
                  between the Corporation and you.

         C.       You/Your

                  You/your refers to [NAME].

3.       ELIGIBILITY FOR THE BENEFIT

         If you terminate employment with the Corporation for any reason prior
         to reaching age 55 and completing at least five (5) years of Credited
         Service as defined in the Alliant Techsystems Inc. Aerospace Pension
         Plan, you are not entitled to a benefit pursuant to this Agreement.

         If you are age 55 or older, have completed five (5) years of Credited
         Service as defined in the Alliant Techsystems Inc. Aerospace Pension
         Plan, and terminate employment with the Corporation prior to
         retirement, you are not entitled to receive a benefit pursuant to this
         Agreement. The Corporation may, however, at its sole discretion, decide
         to provide you with a benefit pursuant to this Agreement.

         If you are age 55 or older, have completed five (5) years of Credited
         Service as defined in the Alliant Techsystems Inc. [Aerospace] Pension
         Plan, and retire from employment with the Corporation under terms
         mutually agreeable to you and the Corporation, you are entitled to
         receive a benefit pursuant to this Agreement at retirement.

         Eligibility for the benefits provided under this Agreement shall be
         determined as of the first date your service for the Corporation is
         terminated.

4.       BENEFIT

         The benefit is equal to the cash surrender value of the life insurance
         policy, disregarding any loans or encumbrances placed on the Policy by
         the Corporation, purchased by the Corporation on your life pursuant to
         the Split Dollar Life Insurance Agreement between you and the
         Corporation. Ownership of the life insurance policy may be transferred
         to you instead of a cash payment. You may then choose 

 
         to continue the life insurance policy, take a retirement income from
         the policy's cash surrender value, a combination of both, or surrender
         the policy.

5.       TERMINATION OF AGREEMENT

         A.       Without Notice

                  This Agreement shall terminate, without notice, upon the
                  occurrence of any of the following events:

                  (1)      Total cessation of the business of the Corporation;

                  (2)      The bankruptcy, receivership, or dissolution of the
                           Corporation;

                  (3)      Performance of the terms of this Agreement following
                           your separation from service;

                  (4)      Your death at a time when the terms of the Split
                           Dollar Life Insurance Agreement between you and the
                           Corporation is in effect; or

                  (5)      Your separation from service under circumstances that
                           do not entitle you to a benefit under this Agreement.

         B.       With Notice

                  In addition, either party may terminate this Agreement
                  unilaterally and without cause, by written notice to the other
                  party of such intent to terminate the Agreement. Such
                  termination shall be effective as of the date specified in
                  such notice.

6.       AMENDMENT OR TERMINATION AFTER A CHANGE OF CONTROL

         Notwithstanding anything herein to the contrary, the Corporation
         reserves the right to amend the provisions of the Agreement and to
         terminate the Agreement at any time prior to the date of a Change of
         Control. During the three (3) years following the date of a Change of
         Control, the provisions of this Agreement may not be amended if the
         amendment would adversely affect your rights, expectancies, or benefits
         under this Agreement (as in effect immediately prior to the Change of
         Control) unless the amendment is consented to in writing by you. The
         Agreement may be terminated at any time during this three (3) year
         period if and only if such termination is consented to in writing by
         you. The Corporation shall require any successor (whether direct or
         indirect, by purchase, merger, consolidation or otherwise) to all or
         substantially all of the benefits and/or assets of the Corporation to
         assume expressly all of the liabilities and obligations of the
         Agreement.

         For the purpose of this Agreement, a 'Change of Control' shall mean any
         of the following events:

                  (a) the acquisition by any person or group of beneficial
         ownership of 20% or more of either the then outstanding stock or the
         combined voting power of the then outstanding voting securities of the
         Corporation entitled to vote generally in the election of directors,
         except that (I) no such person or group shall be deemed to own
         beneficially (1) any securities acquired directly from the Corporation
         pursuant to a written agreement with the Corporation, or (2) any
         securities held by the Corporation or a subsidiary (as defined below)
         or any employee benefit plan (or any related trust) of the Corporation
         or a subsidiary (as defined below), and (II) no Change of Control shall
         be deemed to have occurred solely by reason of any such acquisition by
         a corporation with respect to which, after such acquisition, more than
         60% of both the then outstanding common shares of such corporation and
         the combined voting power of the then outstanding voting securities of
         such corporation entitled to vote generally in the election of
         directors are then beneficially owned, directly or indirectly, by the
         persons who were the beneficial owners of the stock and voting
         securities of the Corporation immediately before such acquisition, of
         the then outstanding stock and the combined voting power of 

 
         the then outstanding voting securities of the Corporation entitled to
         vote generally in the election of directors, as the case may be;

                  (b) individuals who, as the date hereof, constitute the board
         of directors of the Corporation (the 'Incumbent Directors') cease for
         any reason to constitute at least a majority of the board of directors
         of the Corporation; provided that any individual who becomes a director
         after the date hereof whose election, or nomination for election by the
         Corporation's stockholders was approved by a vote or written consent of
         at least two-thirds of the directors then comprising the Incumbent
         Directors shall be considered as though such individual were an
         Incumbent Director, but excluding, for this purpose, any such
         individual whose initial assumption of office is in connection with an
         actual or threatened election contest relating to the election of the
         directors of the Corporation (as such terms are used in Rule 14a-11
         under the Securities Exchange Act of 1934, as amended ('1934 Act'); or

                  (c) approval by the stockholders of the Corporation of (I) a
         merger, reorganization or consolidation with respect to which the
         individuals and entities who were the respective beneficial owners of
         the stock and voting securities of the Corporation immediately before
         such merger, reorganization or consolidation do not, after such merger,
         reorganization or consolidation, beneficially own, directly or
         indirectly, more than 60% of, respectively, the then outstanding common
         shares and the combined voting power of the then outstanding voting
         securities entitled to vote generally in the election of directors of
         the Corporation resulting from such merger, reorganization or
         consolidation, (II) a liquidation or dissolution of the Corporation or
         (III) the sale or other disposition of all or substantially all of the
         assets of the Corporation.

                  For purposes of this definition, 'person' means such term as
         used in Securities Exchange Commission ('SEC') Rule 13d-5(b) under the
         1934 Act; 'beneficial owner' means such term as defined in SEC Rule
         13d-3 under the 1934 Act; 'group' means such term as defined in Section
         13(d) of the 1934 Act; 'subsidiary' means a corporation as defined in
         Section 425(f) of the Internal Revenue Code of 1986, as amended
         ('Code') with the Corporation being treated as the employer corporation
         for purposes of this definition of subsidiary; and 'stock' means the
         common stock of the Corporation, par value $.01, or any other common
         stock that the Corporation may issue from time to time.

7.       FUNDING

         The Corporation's obligation under this Agreement shall not be funded.
         Its obligation shall be a general, unsecured obligation of the
         Corporation.

         If the Corporation should at any time decide to obtain Corporate-owned
         insurance or annuities on your life, you agree to submit to medical
         exams, to sign documents, and to furnish any information or documents
         which the insurance company may require. Nothing in this section shall
         be construed as giving you or any other claimant any interest in any
         such insurance or annuity.

8.       ASSIGNMENT

         Assignment of any or all of the rights or benefits provided under this
         Agreement, or of any or all of the rights or benefits provided under
         the Split Dollar Life Insurance Agreement between you and the
         Corporation has significant tax consequences. Therefore, unless
         otherwise agreed to in writing by the Corporation, you shall not have
         the right to assign any right or benefit provided by this Agreement,
         and any attempt to do so shall be void.

9.       CLAIMS PROCEDURE

         A.       Filing of a claim for benefits.

 
                  A claim for the benefits provided under the policy and this
                  Agreement may be made by contacting the administrative
                  assistant for Alliant Techsystems Inc. at the following
                  location:

                            Nevin Executive Benefits
                            100 Washington Square
                            Suite 1200
                            Minneapolis, MN 55401
                            (612) 343-2526

                  Nevin Executive Benefits shall contact Northwestern Mutual
                  Life Insurance Company (Insurer) and take all reasonable and
                  necessary actions to assist you or your beneficiary in filing
                  a claim.

         B.       Claim denial.

                  With respect to a claim for benefits under said policy, the
                  Insurer shall be the entity which reviews and makes decisions
                  on claim denials according to the terms of the policy.

         C.       Notification to claimant of decisions.

                  Within ninety (90) days after the filing of a claim, the
                  Insurer shall notify the claimant in writing (meeting the
                  requirements of Section 9D hereafter), whether the claim is
                  upheld or denied in whole or in part or shall furnish the
                  claimant a written notice describing the specific
                  circumstances requiring a specified amount of additional time
                  (but not more than one hundred eighty (180) days from the date
                  the claim was filed) to reach a decision on the claim.

         D.       Content of notice.

                  The Insurer shall provide, to any claimant who is denied a
                  claim for benefits, written notice setting forth, in a manner
                  calculated to be understood by the claimant, the following:

                  1)       The specific reason or reasons for the denial;

                  2)       Specific reference to pertinent policy provision or
                           provisions of this Agreement on which the denial is
                           based;

                  3)       A description of any additional material or
                           information necessary for the claimant to perfect the
                           claim and an explanation of why such material or
                           information is necessary; and

                  4)       An explanation of the Agreement's claim review
                           procedure, as set forth in Sections 9E and 9F
                           following.

         E.       Review procedure.

                  The purpose of the review procedure set forth in this Section
                  9E and Section 9F, following, is to provide a method by which
                  a claimant under the policy may have a reasonable opportunity
                  to appeal a denial of claim for a full and fair review. To
                  accomplish that purpose, the claimant or his/her duly
                  authorized representative:

                  1)       May request a review upon written application to the
                           Insurer;

                  2)       May review pertinent policy and Agreement
                           documentation; and

                  3)       May submit issues and comments in writing.

 
                  A claimant or duly authorized representative shall request a
                  review by filing a written application for review at any time
                  within sixty (60) days after receipt by the claimant of
                  written notice of the denial of the claim.

         F.       Decision on review.

                  A decision on review of a denial of claim shall be made in the
                  following manner:

                  1)       The decision on review shall be made by the Insurer,
                           which may, in its discretion, hold a hearing on the
                           denied claim. The Insurer shall make its decision
                           promptly, unless special circumstances (such as the
                           need to hold a hearing) require an extension of time
                           for processing, in which case a decision shall be
                           rendered as soon as possible, but no later than one
                           hundred twenty (120) days after receipt of the
                           request for review.

                  2)       The decision on review shall be in writing and shall
                           include specific reasons for the decision, written in
                           a manner calculated to be understood by the claimant,
                           and include specific references to the pertinent
                           policy or provisions of the Agreement on which the
                           decision is based.

10.      EMPLOYMENT RIGHTS

         This Agreement shall not be construed to be a contract of employment.
         No provision of this Agreement shall restrict the right of the
         Corporation to terminate your employment.

11.      FRINGE BENEFIT ONLY

         The benefit provided by this Agreement is a fringe benefit only. You
         have no option to take cash from the Corporation in lieu of this
         benefit. This benefit is not being provided in lieu of a raise or
         bonus, or as part of a salary reduction program. This benefit shall not
         be treated as compensation for purposes of any retirement plan of the
         Corporation.

12.      NO EFFECT ON OTHER COMPENSATION PLANS

         The benefit provided hereunder shall be in addition to your annual
         salary and shall not affect your right to participate in any current or
         future Corporation retirement plan, or in any supplemental compensation
         arrangement which constitutes a part of the Corporation's regular
         compensation structure.

13.      AMENDMENT

         The provisions of this Agreement may only be amended on written
         agreement between you and the Corporation.

14.      CONSTRUCTION

         This Agreement shall be interpreted under the laws of the State of
         Minnesota.

 
                                       ALLIANT TECHSYSTEMS INC.

The _____ day of _________, 19____.    ______________________________
                                       Vice President Human Resources




The _____ day of _________, 19____.    ______________________________
                                       [NAME]