American Pacific (APFC) 11-K Annual report of employee stock purchases

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

þ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the fiscal year ended September 30, 2009

OR

o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                     to                     

Commission file number 001-8137

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Ampac Fine Chemicals LLC
Bargaining Unit 401(k) Plan

B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:

American Pacific Corporation
3883 Howard Hughes Parkway
Suite 700
Las Vegas, NV 89169

Ampac Fine Chemicals LLC
Bargaining Unit 401(k) Plan

Financial Report
09.30.2009

McGladrey & Pullen, LLP is a member firm of RSM International
— an affiliation of separate and independent legal entities.

Contents

Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Net Assets Available for Benefits	2
Statement of Changes in Net Assets Available for Benefits	3
Notes to Financial Statements	4 - 11
Supplemental Schedule
Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets Held at End of Year	12
EX-23.1

Report of Independent Registered Public Accounting Firm

To the Plan Administrator and Participants
Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan
Las Vegas, Nevada

We have audited the accompanying statements of net assets available for benefits of the Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan (the “Plan”) as of September 30, 2009 and 2008 and the related statement of changes in net assets available for benefits for the year ended September 30, 2009. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of September 30, 2009 and 2008, and the changes in net assets available for benefits for the year ended September 30, 2009, in conformity with accounting principles generally accepted in the United States of America.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets held at end of year as of September 30, 2009, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the United States Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

McGladrey & Pullen, LLP
Las Vegas, Nevada
March 29, 2010

McGladrey & Pullen, LLP is a member firm of RSM International
— an affiliation of separate and independent legal entities.

1

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Statements of Net Assets Available for Benefits
September 30, 2009 and 2008

	2009		2008
Assets
Investments, participant directed, at fair value (Notes 3 and 4):
Cash and cash equivalents	$	218,168	$	2,659,633
Shares of registered investment companies		3,362,241		20,295
American Pacific Corporation common stock (Note 7)		642,387		908,846
Participant loans		391,979		246,941
Total assets		4,614,775		3,835,715
Liabilities
Excess contributions refundable		26,408		—
Net assets available for benefits	$	4,588,367	$	3,835,715

See Notes to Financial Statements.

2

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Statement of Changes in Net Assets Available for Benefits
For the Year Ended September 30, 2009

Additions to net assets attributed to:
Investment income (loss):
Dividend and interest income	$	113,604
Net depreciation in fair value of investments (Note 3)		(4,704	)
Interest, participant loans		15,682
		124,582
Contributions:
Participant		684,929
Employer match		365,629
Rollover		5,066
		1,055,624
Total additions		1,180,206
Deductions from net assets attributed to:
Benefits paid		425,852
Plan expenses (Note 7)		1,702
Total deductions		427,554
Increase in net assets		752,652
Net assets available for benefits:
Beginning of year		3,835,715
End of year	$	4,588,367

See Notes to Financial Statements.

3

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 1. Plan Description

The following description of the Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan (the “Plan”) provides only general information. Participants should refer to the Plan document, as restated, for a complete description of the Plan’s provisions.

General

The Plan is a defined contribution plan open to employees of Ampac Fine Chemicals LLC, a wholly owned subsidiary of American Pacific Corporation (the “Company”), who are members of a collective bargaining unit. Employees are eligible to participate after completing at least 3 months of service and are allowed to enter the Plan on the first day of each fiscal quarter. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

Effective October 1, 2008, the Company appointed Orchard Trust Company, LLC (“Orchard”) as trustee and custodian and Great-West Retirement Services as recordkeeper of the Plan. Due to the change in service providers, the Company instituted a black-out period from September 22, 2008 to October 8, 2008, during which time the only activity recorded by the Plan was participant and employer matching contributions and investment income. The activity recorded during this black-out period was posted and held by Orchard. The investments held under Franklin, with the exception of the American Pacific Corporation common stock and participant loans, were sold on September 30, 2008 and were held in cash equivalents until shares of the investment options offered under Orchard were purchased during the black-out period ending October 8, 2008.

Contributions

Each year, participants may contribute up to the maximum allowed by the Internal Revenue Code. In addition, the Plan allows for catch-up contributions by participants 50 years and older before the end of the Plan year. Participants may also contribute amounts representing distributions from other qualified plans, as defined in the Plan’s provisions. For the year ended September 30, 2009 employee rollover contributions totaled $5,066. Participants direct the investment of their contributions into various investment options offered by the Plan. The Plan currently offers various mutual funds and employer stock as investment options for participants. The Company, at its discretion, may contribute to the Plan. For the year ended September 30, 2009, the Company elected to match contributions equal to 100% of participant contributions, up to the first 3% of participant compensation, and 50% of participant contributions, up to the next 3% of participant compensation. For the year ended September 30, 2009, the Company made matching contributions of $365,629.

In addition, the Company may make profit sharing contributions at the Company’s discretion. There were no profit sharing contributions made for the Plan year ended September 30, 2009. Contributions are subject to certain liminations.

Participant accounts

Each participant’s account is credited with the participant’s contributions, including amounts rolled over from other qualified plans, and allocations of the Company’s discretionary matching contribution and Plan earnings, and is charged with benefit payments and an allocation of administrative expenses. Allocations are based on participant earning or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

4

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 1. Plan Description (continued)

Vesting

Participants are immediately vested in their contributions, rollover contributions and employer matching contributions, plus actual earnings thereon. Vesting in the Company’s discretionary profit sharing contribution is based on years of continuous service. A participant vests 20% per year from years two through six of credited service. A participant’s interest in the Plan becomes fully vested if employment terminates due to death, total and permanent disability or retirement at age 65.

Participant loans

In accordance with the provisions of the Plan, participants may borrow from their fund accounts a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or 50% of their vested account balance. Loan transactions are treated as a transfer (to) from the investment (from) to the participant loan fund. Loan terms range from one to five years or up to ten years for the purchase of a primary residence. The loans are collateralized by the participant’s vested balance in the Plan and bear interest at prime rate plus 1%. Principal and interest is paid ratably through payroll deductions. Interest rates on participant loans vary, ranging from 4.25% to 9.25%. Maturities range from November 2009 through June 2023.

Payment of benefits

Upon termination of service, if the vested value of a participant’s account is less than $5,000, his or her account will be distributed in a lump-sum payment. If the vested value of a participant’s account exceeds $5,000, he or she may elect to receive either a lump-sum amount, substantially equal payments over a specified term, or elect to have all the distribution paid in a direct rollover to another qualified employer plan, or a combination of the above.

Forfeited accounts

There were no forfeited accounts at September 30, 2009 and 2008. Forfeited accounts are utilized first to reduce Plan expenses. Effective October 1, 2008, any remaining forfeitures are used to reduce employer contributions. Prior to October 1, 2008, remaining forfeitures were allocated to participants in proportion to each participant’s compensation for the year. There were no forfeitures used to reduce Plan expenses or reduce employer contributions during the year ended September 30, 2009.

Note 2. Summary of Significant Accounting Policies

Basis of accounting

The Plan’s financial statements are prepared on the accrual basis of accounting.

Use of estimates in the preparation of financial statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, and changes therein, disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

5

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 2. Summary of Significant Accounting Policies (continued)

Investment valuation and income recognition

Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 4 for discussion of fair value measurements.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

Payment of benefits

Benefits are recorded when paid.

Expenses

Administrative expenses of the Plan are paid by either the Plan or the Company, as provided in the Plan document.

New accounting pronouncements

In July 2006, the Financial Accounting Standards Board (“FASB”) issued an interpretation regarding Accounting for Uncertainty in Income Taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This intepretation also provides guidance on derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition. In December 2008, the FASB provided for a deferral of the effective date of this guidance for certain nonpublic enterprises to annual financial statements for fiscal years beginning after December 15, 2008. The Plan has elected this deferral and accordingly will be required to adopt this interpretation in its 2010 annual financial statements. Prior to adoption of this interpretation, the Plan will continue to evaluate its uncertain tax positions and related income tax contingencies under the Accounting for Contingencies guidance. The Accounting for Contingencies guidance requires the Plan to accrue for losses it believes are probable and can be reasonably estimated. Management has not yet assessed the potential impact the adoption of this interpretation will have on the Plan’s net assets, results of operations or financial statement disclosures, if any.

In September 2006, the FASB issued guidance on Fair Value Measurements. This guidance defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurement. This guidance also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and sets out a fair value hierarchy with the highest priority being quoted prices in active markets. Under this guidance, fair value measurements are disclosed by level within that hierarchy. In February 2008, the FASB issued a staff position, which permits a one-year deferral for the implementation of this guidance with regard to nonfinancial assets and liabilities that are not recognized or disclosed at fair value in the financial statements on a recurring basis. The Plan adopted this guidance for the Plan year beginning October 1, 2008, except for nonfinancial assets and nonfinancial liabilities that are recognized or disclosed at fair value in the financial statements on a nonrecurring basis for which delayed application is permitted until the Plan year beginning October 1, 2009, with no material effect. Management has not yet assessed the potential impact the adoption of the remaining provisions of this guidance will have on the Plan’s net assets, results of operations or financial statement disclosures.

6

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 3. Investments

The Plan’s investments that represented 5% or more of the Plan’s net assets available for benefits as of September 30, are as follows:

	2009		2008
Cash and cash equivalents:
Federated Prime Cash Obligations Fund		**	$	2,659,633
Shares of registered investment companies:
BlackRock Global Allocation Fund	$	307,822		**
Lazard Emerging Markets Open Fund	$	248,658		**
Common stock:
American Pacific Corporation common stoc k	$	642,387	$	908,846
Participant loans	$	391,979	$	246,941

** These investments are below 5% of the Plan’s net assets at September 30, 2009 or September 30, 2008.

7

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 3. Investments (continued)

The Plan’s investments including gains and losses on investments bought and sold, as well as held during the year, appreciated (depreciated) in value during the year ended September 30, 2009 as follows:

Cash and cash equivalents:
Federated Prime Cash Obligations Fund	$	683
Shares of registered investment companies:
Lazard Emerging Markets Open Fund	$	64,513
BlackRock Global Allocation Fund		35,583
BlackRock U.S. Opportunites Inv Fund		35,118
American Funds Growth Fund of America		31,842
Templeton Global Bond Fund		31,168
American Funds Europacific Growth Fund		22,757
Artisian Mid Cap Value Fund		19,295
Columbia Energy and Natural Resources Fund		19,033
Ivy Science and Technology Fund		17,792
BlackRock Small Cap Growth Equity Fund		15,806
American Funds Fundamental Inv Fund		13,352
Alliance Bernstein 2040 Retirement Str R Fund		12,013
Alliance Bernstein 2015 Retirement Str R Fund		11,320
DWS Equity 500 Index Fund		9,826
Alliance Bernstein 2030 Retirement Str R Fund		9,458
Alliance Bernstein 2035 Retirement Str R Fund		9,440
MFS Utilities Fund		9,017
Alliance Bernstein 2045 Retirement Str R Fund		7,693
BlackRock Equity Dividend Fund		7,693
Alliance Bernstein 2050 Retirement Str R Fund		7,521
American Funds High Income Fund		6,884
Allianz NFJ Small Cap Value Fund		5,601
Dreyfus Small Cap Stock Index Fund		5,571
Artio Total Return Bond Fund		4,840
Hartford Global Health Fund		3,744
PIMCO GNMA Fund		3,352
Alliance Bernstein 2025 Retirement Str R Fund		1,625
JP Morgan U.S. Real Estate Fund		1,430
Alliance Bernstein 2055 Retirement Str R Fund		1,176
Alliance Bernstein 2005 Retirement Str R Fund		916
Alliance Bernstein 2000 Retirement Str R Fund		677
Alliance Bernstein 2010 Retirement Str R Fund		243
Alliance Bernstein 2020 Retirement Str R Fund		(3,980	)
		422,319
Common stock:
American Pacific Corporation common stock		(427,706	)
Net depreciation in fair value of investments	$	(4,704	)

8

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 4. Fair Value Measurements

Effective October 1, 2008, the Plan adopted new accounting guidance related to fair value measurements which provides a framework for measuring fair value under generally accepted accounting principles. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under the new guidance are described below:

•	Level 1:	Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
•	Level 2:	Inputs to the valuation methodology include:

•	Quoted prices for similar assets or liabilities in active markets;
•	Quoted prices for identical or similar assets or liabilities in inactive markets;
•	Inputs other than quoted prices that are observable for the asset or liability;
•	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

• Level 3:  Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at September 30, 2009 and 2008.

Cash equivalents: Valued at cost, which approximates fair value.

Registered investment companies: Valued at the net asset value (NAV) of shares held by the plan at year end.

American Pacific Corporation common stocks: Valued at the closing price reported in the active market in which the individual securities are traded.

Participant loans: Valued at amortized cost, which approximates fair value.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

9

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 4. Fair Value Measurements (continued)

The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of September 30, 2009.

	Investments at Fair Value as of September 30, 2009
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	218,168	$	—	$	—	$	218,168
Shares of registered investment companies		3,362,241		—		—		3,362,241
American Pacific Corporation common stock		642,387		—		—		642,387
Participant loans		—		—		391,979		391,979
Total investments at fair value	$	4,222,796	$	—	$	391,979	$	4,614,775

Level 3 gains and losses:

The table below sets forth a summary of changes in the fair value of the Plan’s level 3 investments for the year ended September 30, 2009.

	Participant
	loans
Balance, beginning of year	$	246,941
Issuances and settlements (net)		145,038
Balance, end of year	$	391,979

Note 5. Plan Termination

Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their accounts.

Note 6. Income Tax Status

Effective October 1, 2008, the Plan was adopted from a non-standardized prototype plan document offered by Orchard. The Internal Revenue Service (“IRS”) has determined and informed the prototype sponsor by a letter dated November 27, 2001 that the prototype plan is designed in accordance with applicable sections of the Internal Revenue Code (“IRC”).

The Plan’s adoption agreement under the prototype plan sponsored by Orchard is in the process of being submitted to the IRS for a determination that the Plan as adopted is designed in accordance with the IRC. The Plan has not yet received approval from the IRS regarding the determination letter application. However, the Plan administrator and the Plan’s management believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC and the related trust was exempt from taxation as of the financial statement date.

10

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Notes to the Financial Statements

Note 7. Exempt Party-In-Interest Transactions

Certain Plan investments are shares of registered investment companies managed by Orchard or its affiliates. Orchard is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. Fees paid by the Plan to Orchard totaled $1,702 for the year ended September 30, 2009.

At September 30, 2009 and 2008, the Plan held 82,782 and 69,590 shares of common stock of American Pacific Corporation, respectively, with a cost basis of $940,669 and $846,506, respectively. At September 30, 2009 and 2008, the Plan held 25 and 1,231 units in the Employer Stock Awaiting Purchase Fund, respectively, with a cost basis of $25 and $1,231, respectively.

Note 8. Risk and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statement of Net Assets Available for Benefits.

Note 9. Subsequent Event

Subsequent to year end the Plan is being amended and restated to adopt various required IRS and Pension Protection Act of 2006 provisions.

11

Ampac Fine Chemicals LLC Bargaining Unit 401(k) Plan

Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets Held at End of Year
September 30, 2009

	Identity of issuer, borrower, lessor, or similar	Description of investment, including
	party	maturity date, collateral and maturity value	Cost	Current Value
	Cash and cash equivalents:
	Federated Prime Cash Obligations Fund	Mutual fund		$	218,141
*	Employer Stock Awaiting Purchase Fund		**		27
					218,168
	Shares of registered investment companies:
*	BlackRock Global Allocation Fund	Mutual fund	**		307,822
*	Lazard Emerging Markets Open Fund	Mutual fund	**		248,658
*	American Funds Growth Fund of America	Mutual fund	**		225,970
*	BlackRock Equity Dividend Fund	Mutual fund	**		190,582
*	BlackRock U.S. Opportunites Inv Fund	Mutual fund	**		189,159
*	Columbia Energy and Natural Resources Fund	Mutual fund	**		177,126
*	Templeton Global Bond Fund	Mutual fund	**		170,454
*	American Funds Europacific Growth Fund	Mutual fund	**		140,406
*	Allianz NFJ Small Cap Value Fund	Mutual fund	**		134,847
*	Dreyfus Small Cap Stock Index Fund	Mutual fund	**		118,418
*	BlackRock Small Cap Growth Equity Fund	Mutual fund	**		117,580
*	American Funds Fundamental Inv Fund	Mutual fund	**		107,306
*	Artio Total Return Bond Fund	Mutual fund	**		103,035
*	Ivy Science and Technology Fund	Mutual fund	**		103,024
*	Artisian Mid Cap Value Fund	Mutual fund	**		101,715
*	DWS Equity 500 Index Fund	Mutual fund	**		101,164
*	PIMCO GNMA Fund	Mutual fund	**		90,699
*	Alliance Bernstein 2040 Retirement Str R Fund	Mutual fund	**		90,429
*	Alliance Bernstein 2030 Retirement Str R Fund	Mutual fund	**		77,227
*	Alliance Bernstein 2015 Retirement Str R Fund	Mutual fund	**		71,098
*	Alliance Bernstein 2020 Retirement Str R Fund	Mutual fund	**		68,489
*	Alliance Bernstein 2045 Retirement Str R Fund	Mutual fund	**		60,730
*	Alliance Bernstein 2035 Retirement Str R Fund	Mutual fund	**		58,872
*	American Funds High Income Fund	Mutual fund	**		53,476
*	Alliance Bernstein 2050 Retirement Str R Fund	Mutual fund	**		48,731
*	MFS Utilities Fund	Mutual fund	**		48,717
*	Hartford Global Health Fund	Mutual fund	**		44,071
*	JP Morgan U.S. Real Estate Fund	Mutual fund	**		41,825
*	Alliance Bernstein 2010 Retirement Str R Fund	Mutual fund	**		23,073
*	Alliance Bernstein 2025 Retirement Str R Fund	Mutual fund	**		22,273
*	Alliance Bernstein 2005 Retirement Str R Fund	Mutual fund	**		11,236
*	Alliance Bernstein 2055 Retirement Str R Fund	Mutual fund	**		7,331
*	Alliance Bernstein 2000 Retirement Str R Fund	Mutual fund	**		6,698
					3,362,241
*	American Pacific Corporation Common Stock	Common Stock (82,782 shares)	**		642,387
*	Participant Loans Receivable	Interest rates ranging from 4.25% - 9.25%, maturing through June 2023	**		391,979
	Total investments			$	4,614,775

*	Represents a party-in-interest to the Plan.
**	Cost information is not required for participant-directed investments and, therefore, is not included.

12

SIGNATURES

The Plan. Pursuant to the requirements of the Securities and Exchange Act of 1934, the trustees have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

	Ampac LLC Fine Chemicals Bargaining Unit 401(k) Plan
	By:	American Pacific Corporation, as Plan
		Administrator
Date: March 29, 2010	By:	/s/ JOSEPH CARLEONE
		Joseph Carleone
		President & Chief Executive Officer

13

EXHIBIT INDEX

Exhibit
Index		Description
	23.1	Consent of Independent Registered Public Accounting Firm