Document:

Exhibit 10 (d)

		
			Exhibit 10(d)
		

		
			 WD-40 Directors’ Compensation Policy and Election Plan
		

		
			October 9, 2017
		

		
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			The WD-40 Corporate Governance Committee has proposed, and the Board of Directors has adopted, the following Compensation Policy and Election Plan for directors (the “Election Plan”), effective as of October 9, 2017.
		

		
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			RESTRICTED STOCK UNITS
		

		
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			Each new non-employee director joining the Board after the adoption of this Election Plan will receive restricted stock units (“RSUs”) with a fair market value on the date of grant of $70,000 as soon as practicable upon joining the Board.  RSUs  shall be granted by affirmative action of the full Board under the WD-40 Company 2016 Stock Incentive Plan (the “Incentive Plan”).  Vesting will be immediate and the units will be settled in Company stock upon termination of the director’s service on the Board for any reason, including upon death, resignation, retirement or removal from office (“Termination”.)  The RSUs will carry dividend equivalents payable in cash as and when declared on the Company’s stock in accordance with the Incentive Plan.  The Award Agreements issued with respect to the RSUs shall not permit the director to accelerate or otherwise obtain benefits (other than the dividend equivalent payments) with respect to the RSUs until Termination.  All RSUs awarded pursuant to this Election Plan shall be subject to Award Agreements having the same terms and conditions for vesting, time of payment, dividend equivalents and acceleration prohibition as provided for hereinabove and all references to RSUs in this Election Plan shall refer to RSUs subject to such Award Agreements.
		

		
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			Each continuing non-employee director will receive annually an award of RSUs with a fair market value of $70,000 on the date of grant.   The RSUs will be granted by affirmative action of the full Board under the Incentive Plan at the organizational meeting of the Board immediately following the annual meeting of stockholders in December of each year.
		

		
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			The award of RSUs to directors at the December meeting shall represent, in part, the full measure of compensation earned by each director for services rendered in the month of December from and after such meeting.
		

		
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			ELECTION PLAN FOR PAYMENT OF ANNUAL BASE COMPENSATION IN CASH AND/OR BY AWARD OF RESTRICTED STOCK UNITS
		

		
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			Annual base compensation for directors for services rendered during the calendar year beginning on January 1st following the Company’s annual meeting of stockholders through the date of the next annual meeting shall be $45,000.  Such amount does not include board committee fees, director contribution fund donation or reimbursement for travel expenses.  No separate compensation shall be payable for special meetings of the directors. 
		

		
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			Compensation for Directors to be Elected at the Annual Meeting
		

		
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			Annual base compensation for each non-employee director will be paid in a combination of cash and/or RSUs.  Each director may elect to receive all or a portion of the annual base compensation in cash in increments of $1,000 and shall make this election by the date of the annual meeting.  The cash compensation to be paid, if any, shall be paid on March 1 of the following year.  RSUs having a fair market value as of the date of grant equal to the amount of annual base compensation not elected to be received in cash will be granted by affirmative action of the full Board under the Incentive Plan immediately following the annual shareholders meeting in December, at which time, the director’s election shall become irrevocable.
		

		
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			Compensation for Directors Appointed During Year
		

		
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			Directors appointed during the year to fill a vacancy on the Board will receive annual base compensation according to the following schedule: 
		

		
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						Appointment at or prior to the second quarter meeting:

					
					
						 

					
					
						$       45,000

					
					
						 

				
	
					
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						Appointment at or prior to the third quarter meeting:

					
					
						 

					
					
						$       34,000

					
					
						 

				
	
					
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						Appointment at or prior to the fourth quarter meeting:

					
					
						 

					
					
						$       22,500

					
					
						 

				
	
					
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		Payment of such compensation shall be made on or about the first day of the second month following appointment to the Board.   Prior to the effective date of the new director’s election to the Board, the director may elect to receive all or part of such compensation in cash in increments of $1,000 and RSUs shall be awarded in the manner provided for elections with respect to the receipt of annual base compensation as set forth above.  The RSUs are to be granted by the full Board under the Incentive Plan at the next meeting of the Board following receipt of the director’s election in the same manner in which RSUs are awarded to directors pursuant to their annual compensation elections.  The new director’s election shall be irrevocable upon the effective date of his or her service as a director.
		

		
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			Compensation for Directors Leaving During Year
		

		
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			If deemed practical by the Corporate Governance Committee, a departing director will be paid for the pro-rata portion of time actually served and may be required to return a pro rata portion of compensation received or to forfeit a pro rata portion of RSUs awarded pursuant to the foregoing election provisions, as such required return of compensation or forfeiture may be determined by the Corporate Governance Committee in its reasonable discretion.  
		

		
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			IRC SECTION 409A PLAN
		

		
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			The foregoing provisions relating to the grant of RSUs under the Incentive Plan and a director’s election to receive all or part of the annual base compensation in cash are intended to constitute a binding plan for purposes of Section 409A of the Internal Revenue Code.
		

		
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			BOARD CHAIRMAN COMPENSATION 
		

		
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			The Chairman of the Board will receive $22,000 as additional cash compensation annually. This amount will be pro-rated for partial year service as Chairman.
		

		
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			COMMITTEE COMPENSATION 
		

		
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			Annual Committee service fees are as stated below: 
		

		
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			Audit Committee 
		

		
			$8,000 per member 
		

		
			Chairman $16,000
		

		
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			Compensation Committee 
		

		
			$4,000 per member 
		

		
			Chairman $10,000 
		

		
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			Corporate Governance Committee 
		

		
			$4,000 per member 
		

		
			Chairman $8,000 
		

		
			 
		

		
			Finance Committee 
		

		
			$4,000 per member 
		

		
			Chairman $8,000
		

		
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			Payment of annual committee service fees shall be made in lump sum on or about March 1 of each year covering committee services provided from the beginning of the calendar year following each annual meeting to the next annual meeting.  Amounts will be pro-rated for partial year service.
		

		
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			ADDITIONAL BENEFITS 
		

		
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			Charitable Donations 
		

		
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			Each director is allowed to designate $6,000 annually from WD-40 Company Director Contributions Fund to a qualified (501(c)(3)) charitable organization.  Newly elected directors will be eligible to make charitable funding designations for 
		

		 

 

		the fiscal year following the fiscal year in which they are elected. Any continuing director who serves any part of a fiscal year shall be entitled to designate $6,000 for that year. 
		

		
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			Continuing Education 
		

		
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			Each director will be reimbursed up to a total of $3,000 per year for education expenses, including appropriate travel costs.  There will be no “carry-forward” if the amount is not utilized during the year.  Reimbursement shall be up to a total of $10,000 in any year if a director engages in international travel to visit company worksites or travel with company personnel.  Directors are encouraged to share their learning from educational programs with the Board.
		

		
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			Adopted by the Board of Directors, October 9,  2017
		

		
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			/s/ RICHARD T. CLAMPITT
		

		
			Richard T. Clampitt
		

		
			WD-40 Company Corporate SecretaryExhibit 10 (g)

		
			Exhibit 10(g)
		

		
			WD-40 COMPANY 
		

		
			2007 STOCK INCENTIVE PLAN
		

		
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			FY 2017 RESTRICTED STOCK UNIT AWARD GRANT NOTICE AND ACCEPTANCE
		

		
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			Number of RSU Shares:  The Total “Vest Quantity” Shown Above
		

		
			Period of Restriction:  Three Year Vesting
		

		
			Vesting Dates:  For Each “Vest Quantity”, Not Later Than the “Vest Dates” Shown Above
		

		
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			FY 2017 RESTRICTED STOCK UNIT AWARD AGREEMENT
		

		
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			Pursuant to your RSU Award Grant Notice and Acceptance (“Grant Notice”) and this Restricted Stock Unit Award Agreement (“Agreement”), WD-40 Company, a Delaware corporation, (the “Company”) has awarded to you Restricted Stock Units (“RSUs”) under the WD-40 Company 2007 Stock Incentive Plan (the “Plan”) with respect to the number of shares of the Company’s Common Stock indicated in your Grant Notice.  Defined terms not explicitly defined in this Agreement but defined in the Plan shall have the same definitions as in the Plan.
		

		
			The details of your RSUs are as follows:
		

			
	
			
				1.
			Number of Shares.  The number of Shares to be issued to you upon payment of your RSUs (your “RSU Shares”) as referenced in your Grant Notice may be adjusted from time to time upon changes in capitalization of the Company pursuant to Section 18 of the Plan.

			
	
			
				2.
			No Payment of Dividend Equivalents.  Dividend Equivalents are not payable with respect to your RSUs.  Upon issuance of your RSU Shares at the time of vesting or otherwise as provided for herein, you will then be entitled to receive dividends as and when declared upon the Shares by the Company.

			
	
			
				3.
			Vesting.  Your RSUs vest over a period of three years from the Date of Grant.  The number of RSUs vesting on each vesting date is set forth on your Grant Notice.  The vesting date for each fiscal year (the “vesting year”) will be the earlier of the date that is the 3rd business day following the Company’s public release of its annual earnings for the immediately preceding fiscal year or November 15 of the vesting year as specified in your Grant Notice.  Except as otherwise provided for herein, RSUs that are not vested as of the effective date of the termination of your employment with the Company or a Subsidiary for any reason, including death, resignation or termination by the Company or Subsidiary (“Termination of Employment”), shall be forfeited.

			
	
			
				4.
			Payment in Shares upon Vesting.    Your vested RSUs shall be payable solely in an equivalent number of Shares immediately as of the vesting date as set forth in Paragraph 3 above.  Subject to the provisions of Paragraphs 8 and 11 of this Agreement, the RSU Shares shall be issued and delivered to you or to your designated Beneficiary (as hereinafter defined) on the vesting date.  Issuance of the RSU Shares may not be accelerated, deferred or otherwise claimed by you for any reason or at any time other than upon vesting or otherwise as provided for herein.

		 

		

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				5.
			Retirement Vesting.  Notwithstanding the provisions of Paragraph 3 above and except as provided in Paragraph 7 below, all of your RSUs shall be immediately vested and, subject to the provisions of Paragraphs 8 and 11 of this Agreement, the RSU Shares shall be issued to you as of a date that is thirty (30) days following the effective date of your Retirement (as hereinafter defined).  “Retirement”, for purposes of this Agreement, means Termination of Employment (for any reason other than termination by the Company or a Subsidiary for Cause): (i) after attainment of age sixty-five (65), or (ii) after attainment of age fifty-five (55) provided that you have been in Continuous Service with the Company or a Subsidiary for not less than ten (10) years.

			
	
			
				6.
			Change of Control Vesting.  The provisions of Section 19 of the Plan shall apply in the event of a Change of Control of the Company.   Vesting of your RSUs upon Termination of Employment for “good reason” following a Change of Control shall also be provided for if specifically provided for in a written employment or severance agreement between you and the Company.  In the event your RSUs are vested pursuant to Section 19 of the Plan, subject to the provisions of Paragraphs 7, 8 and 11 of this Agreement, the RSU Shares shall be issued to you as of a date that is thirty (30) days following the effective date of the Change of Control of the Company or the effective date of your Termination of Employment without Cause, as the case may be.

			
	
			
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			Six Month Delay in Issuance of Shares on Termination of Employment for Certain Officers.  If, at the time of your Retirement or other Termination of Employment, you are a “specified employee” as that term is defined in Section 409A of the Internal Revenue Code of 1986, as amended, subject to the provisions of Paragraphs 8 and 11 of this Agreement, the RSU Shares to be issued to you as provided for in Paragraphs 5 or 6 above shall be issued and delivered to you or to your designated Beneficiary (as hereinafter defined) six (6) months following the day after the effective date of your Termination of Employment.

			
	
			
				8.
			Securities Law Compliance.  Notwithstanding anything to the contrary contained herein, your RSU Shares may not be issued unless the RSU Shares are then registered under the Securities Act of 1933, as amended (the “Securities Act”) or, if such Shares are not then so registered, the Committee or the Board has determined that such issuance would be exempt from the registration requirements of the Securities Act.  The issuance of your RSU Shares must also comply with other applicable laws and regulations governing your RSU Shares, and the issuance of your RSU Shares may be delayed if the Committee or the Board determines that such issuance would not be in material compliance with such laws and regulations.

			
	
			
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			Transferability.  Your RSUs are not transferable, except by will or by the laws of descent and distribution.  Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party (your “Beneficiary”) who, in the event of your death, shall then be entitled to receive the RSU Shares payable as of the date of your death.

			
	
			
				10.
			Agreement Not a Service Contract or Obligation to Continue Service.   This Agreement is not an employment or service contract, and nothing in this Agreement shall be deemed to create in any way whatsoever any obligation on your part to continue in the service of the Company or Subsidiary as an employee for any period of time.  In addition, nothing in this Agreement shall obligate the Company or a Subsidiary to continue your employment for any period of time.

			
	
			
				11.
			Withholding of RSU Shares to Cover Tax Withholding Obligations.

			
	
			
				 (a)
			At the time of issuance of your RSU Shares, to the extent required by law or applicable regulation,  the Company shall withhold from the RSU Shares otherwise issuable to you a number 
		

		 

		

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			of whole Shares having a Fair Market Value as of the date of vesting, or as of the date of issuance in the case of the issuance of RSU Shares following your Retirement, equal to the minimum amount of taxes required to be withheld by law.  The Fair Market Value of the withheld whole number of RSU Shares that is in excess of the minimum amount of taxes required to be withheld shall be added to the deposit for your U.S. federal income tax withholding or, if you are an international taxpayer, such amount shall be added to the largest deposit of withheld tax required to be made by the Company on your behalf.

			
	
			
				 (b)
			Your RSU Shares may not be issued unless the tax withholding obligations of the Company, if any, are satisfied.  Accordingly, the RSU Shares may not be issued within the time specified in Paragraphs 4, 5, 6 or 7 above and the Company shall have no obligation to issue a certificate for such Shares until such tax withholding obligations are satisfied or otherwise provided for.

			
	
			
				12.
			Notices.   Any notices provided for in the Plan or this Agreement shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company.

			
	
			
				13.
			Governing Plan Document.   This Agreement is subject to all the provisions of the Plan, the provisions of which are incorporated by reference in this Agreement.  This Agreement is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan.  In the event of any conflict between the provisions of this Agreement and those of the Plan, the provisions of the Plan shall control.

		
			END OF RESTRICTED STOCK UNIT AGREEMENT
		

		
			(Refer to RSU Award Grant Notice and Acceptance for Specific Grant Information)
		

		 

		

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