WITNESSETH:

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                                                                     EXHIBIT 4.7


                               FIRST AMENDMENT TO
                          THE PIPER IMPACT 401(K) PLAN



     THIS AGREEMENT by Piper Impact,Inc., a Delaware corporation, (the
"Sponsor"),

                                  WITNESSETH:

     WHEREAS, on July 13, 1998, the Sponsor executed the amendment and
restatement of the plan agreement known as the "Piper Impact 401(k) Plan" (the
"Plan"); and


     WHEREAS, the Sponsor retained the right in Section 10.01 of the Plan to
amend the Plan from time to time; and

     WHEREAS, the directors of the Sponsor have approved resolutions to amend
the Plan;

     NOW, THEREFORE, the Sponsor agrees as follows:

     (1)  Effective January 1, 1999, Section 4.03 of the Plan is amended in its
          entirety to provide as follows:

               4.03 SUPPLEMENTAL CONTRIBUTIONS. The Employer may contribute for
          any Plan Year a Supplemental Contribution for its Employees who are on
          its payroll for its Utah plant in such amount, if any, as shall be
          determined by the Employer. The Employer may contribute for any Plan
          Year a Supplemental Contribution for its Employees who are on its
          payroll for its Mississippi plant in such amount, if any, as shall be
          determined by its Employer. The amount of Supplemental Contribution
          made on behalf of Employees on the Employer's payroll for its Utah and
          Mississippi plants need not be uniform.

     (2)  Effective January 1, 1999, Section 5.04 of the Plan is amended in its
          entirety to provide as follows:

               5.04 ALLOCATION OF SUPPLEMENTAL CONTRIBUTION. The Committee shall
          allocate the Supplemental Contribution for its Employees who are on
          its payroll for its Utah plant among the Employer's Members who are on
          its payroll for its Utah plant in the proportion that the Considered
          Compensation of each such Member bears to the total Considered
          Compensation of all such Members for the Plan Year. The Committee
          shall allocate the Supplemental Contribution for its Employees who are

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          on its payroll for its Mississippi plant among the Employer's Members
          who are on its payroll for its Mississippi plant in the proportion
          that the Considered Compensation of each such Member bears to the
          total Considered Compensation of all such Members for the Plan Year.

     IN WITNESS WHEREOF, the Sponsor has caused this Agreement to be executed
this day of December, 1998.

                                        PIPER IMPACT, INC.


                                       By:
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                                       Title:
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