exv10w23



 





EXHIBIT 10.23




EXECUTIVE OFFICER AND DIRECTOR COMPENSATION




     Executive Officers:



     The following table sets forth the current annual base salaries and certain other compensation
information of the executive officers of American Pacific Corporation (the “Company”) as of
September 30, 2007:



	 	 	 	 	 	 	 	 	 
	 	 	 	 	Base
Salary as of	 	 
	 	 	 	 	October 	 	September 	 	Potential Bonus (1)
	Name	 	Current Position	 	 1, 2006	 	 30, 2007	 	Potential Bonus (1)
	 
	John R. Gibson

	 	Chief Executive
Officer and
Chairman of the
Board
	 	$436,550 	 	$458,375 	 	For the fiscal year
ended September 30,
2007 (“fiscal
2007”), up to 100%
of Base Salary as
of October 1, 2006
	 
	Dr. Joseph Carleone

	 	President and Chief
Operating Officer
	 	$290,000 	 	$298,700 	 	For fiscal 2007, up
to 100% of Base
Salary as of
October 15, 2006
	 
	Linda G. Ferguson

	 	Vice
President-Administration and Secretary
	 	$186,000 	 	$191,580 	 	For fiscal 2007, up
to 50% of Base
Salary as of
October 1, 2006
	 
	Dana M. Kelley

	 	Vice President,
Chief Financial
Officer and
Treasurer
	 	$185,000 	 	$190,550 	 	For fiscal 2007, up
to 50% of Base
Salary as of
October 1, 2006
	 
	Dr. Aslam Malik

	 	President of Ampac
Fine Chemicals, LLC
	 	$232,872 	 	$239,856 	 	For fiscal 2007, up
to 114% of Base
Salary as of
October 1, 2006 (2)
	 
	Robert Huebner

	 	Vice President -

Ampac-ISP Operations
	 	$155,952 	 	$160,631 	 	For fiscal 2007, up
to 21% of Base
Salary as of
October 1, 2006 (3)
	 




In addition to base salary and potential bonus, the executive officers may receive equity and/or
certain other compensation, bonus and benefits under the Company’s equity incentive and other
benefit plans and programs, as applicable.







 




			
	(1)	 	Except for Dr. Malik and Mr. Huebner, each of the executive officers of the Company is a
participant in a discretionary executive incentive compensation program established by the
Company’s Corporate Governance Committee and Board of Directors pursuant to which participants may
earn up to a specified percentage of their respective base salaries, subject to the Company
achieving certain targets for the fiscal year. Payment of any bonus amount remains entirely at the
discretion of the Company’s Corporate Governance Committee and Board of Directors, notwithstanding
the achievement of such financial targets and any other bonus requirements.
	 
	(2)	 	Dr. Malik participates in the AMPAC Fine Chemicals incentive compensation plan pursuant to
which he may earn up to a specified percentage of his base salary, subject to the Company achieving
certain targets for the fiscal year. Payment of any bonus amount remains entirely at the
discretion of the Company’s Corporate Governance Committee and Board of Directors, notwithstanding
the achievement of such financial targets and any other bonus requirements.
	 
	(3)	 	Mr. Huebner participates in the incentive compensation plan for the Company’s Aerospace
Equipment segment pursuant to which he may earn up to a specified percentage of his base salary,




 









 








			
	 	 	subject to the Company achieving certain targets for the fiscal year. Payment of any bonus amount
remains entirely at the discretion of the Company’s Corporate Governance Committee and Board of
Directors, notwithstanding the achievement of such financial targets and any other bonus
requirements.





Directors:



Directors of the Company (other than directors who are also employees of the Company) are
compensated at the rate of $5,000 per quarter, plus $1,100 per meeting of the Company’s Board of
Directors meeting attended, and $800 per committee meeting attended, and are reimbursed for
expenses incurred in attending such meetings. Committee chairmen receive an additional $300 per
committee meeting attended.



Directors of the Company (who are neither full-time or part-time employees of the Company) may be
granted from time to time stock options under the 2002 Directors Stock Option Plan, to the extent
shares remain authorized and available under such plan.



In addition, one director, Mr. C. Keith Rooker, bills the Company at his customary rates for legal
services rendered to the Company and expenses incurred in connection therewith.