Well couple things start with easiest.
Take the next size larger tork bit or allen wrench bit.
Use a short extension. a floppy handle breaker bar is best, but a flat back face
rachet witll work too.
Insert the bit into the stripped screw. use a hammer and rap lightly, but firmly on back of
breaker bar or rachet as you try to loosen screw. Most times this will work.
Replace with a new tork screw oer allen head.
Harder: try drilling with a drill slightly larger than the bolt shank. Most are 1/4 ".
This will let bolt head come off, but be careful not to drill into case.
Now with the cover removed pair of pliers or vicegrips will usually remove the screw.

Or drill and use an easy out.

When reinstalling dip the threads in Maalox or phillips mik of magnesia. this will help prevent future seize ups.
But make sure to recheck tightness after a short run.

 

what mathews2 said.

 

Use a dremmel tool with a cutting wheel and cut a slot in it. Find a wide-blade screwdriver and unscrew. I had to do this on a derby cover screw when an indy shop stripped it, worked rather well. Easier than trying to drill it out.

 

Sears has some bolt extraction tools, may try them.....

 

There are several types of screw extractors out there. I have a couple in my box at the garage. Saved me more than once.

I highly encourage everyone to pick up a set of these badboys.
I have had success with the corkscrew type and the "pound in" hex type, carrying each in my box.

I also have a left handed set of drill bits. Small asst. of course.

Also, a while back there was a thread similar to this. Awesome info in there too. Do a search and you can probably find it.

 

I striped out my torx on my derby cover when my 03 was only 2 months old. About $hit myself, having to take a hammer and chisel to it. I got it without damaging the primary cover.

 

I agree drill the head off and when cover is off,remainder will screw out by hand

 

That's the easiest way if you have a Dremel tool with a cut off wheel.

 

I did not strip mine when i removed but i did get rid of them. I went with stainless button head allen. I just wanted to know what the rest of you did.

 

Exactly what I did as well.